B. Riley Lowers CPI Card Group (NASDAQ:PMTS) Price Target to $28.00

CPI Card Group (NASDAQ:PMTS) had its price objective decreased by B. Riley from $34.00 to $28.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price would suggest a potential upside of 95.33% from the stock’s previous close.

A number of other brokerages have also weighed in on PMTS. Roth Capital set a $30.00 price target on shares of CPI Card Group in a report on Tuesday, November 4th. Wall Street Zen downgraded shares of CPI Card Group from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Lake Street Capital set a $25.00 target price on CPI Card Group in a research note on Wednesday. Weiss Ratings lowered shares of CPI Card Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of CPI Card Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.60.

CPI Card Group Trading Up 3.9%

NASDAQ:PMTS traded up $0.54 during mid-day trading on Monday, hitting $14.34. The company’s stock had a trading volume of 21,900 shares, compared to its average volume of 49,111. The company has a market capitalization of $163.25 million, a price-to-earnings ratio of 12.82 and a beta of 1.49. CPI Card Group has a fifty-two week low of $12.52 and a fifty-two week high of $35.19. The stock has a fifty day moving average of $15.38 and a 200-day moving average of $19.11.

CPI Card Group (NASDAQ:PMTS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.16). The company had revenue of $137.97 million for the quarter, compared to the consensus estimate of $140.62 million. CPI Card Group had a net margin of 2.66% and a negative return on equity of 58.00%. On average, equities analysts anticipate that CPI Card Group will post 1.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman H Sanford Riley purchased 10,000 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was acquired at an average cost of $14.20 per share, for a total transaction of $142,000.00. Following the completion of the transaction, the chairman directly owned 51,457 shares in the company, valued at approximately $730,689.40. The trade was a 24.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought a total of 20,623 shares of company stock worth $309,537 over the last ninety days. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On CPI Card Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE acquired a new stake in shares of CPI Card Group during the 1st quarter worth about $33,000. Lazard Asset Management LLC grew its position in shares of CPI Card Group by 100.4% in the 2nd quarter. Lazard Asset Management LLC now owns 2,928 shares of the company’s stock valued at $69,000 after buying an additional 1,467 shares during the last quarter. Virtus Advisers LLC acquired a new stake in CPI Card Group during the 1st quarter worth $101,000. Russell Investments Group Ltd. lifted its position in CPI Card Group by 130.4% in the first quarter. Russell Investments Group Ltd. now owns 3,800 shares of the company’s stock valued at $111,000 after acquiring an additional 2,151 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of CPI Card Group by 52.5% during the second quarter. IFP Advisors Inc now owns 4,342 shares of the company’s stock worth $103,000 after purchasing an additional 1,494 shares during the last quarter. Institutional investors and hedge funds own 22.08% of the company’s stock.

About CPI Card Group

CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through Debit and Credit, and Prepaid Debit segments. The Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing financial institutions.