CPI Card Group (NASDAQ:PMTS) Director Marc Sheinbaum Acquires 4,651 Shares of Stock

CPI Card Group Inc. (NASDAQ:PMTS) Director Marc Sheinbaum purchased 4,651 shares of CPI Card Group stock in a transaction dated Monday, September 14th. The stock was bought at an average price of $21.50 per share, for a total transaction of $99,996.50. Following the completion of the transaction, the director directly owned 26,500 shares in the company, valued at $569,750. The trade was a 21.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

CPI Card Group Trading Up 7.8%

NASDAQ PMTS opened at $24.26 on Tuesday. The stock has a 50-day simple moving average of $24.52 and a 200 day simple moving average of $19.43. The company has a market capitalization of $279.72 million, a PE ratio of 21.10 and a beta of 0.97. CPI Card Group Inc. has a 12 month low of $10.81 and a 12 month high of $31.25.

Key Stories Impacting CPI Card Group

Here are the key news stories impacting CPI Card Group this week:

• Positive Sentiment: Company insiders made approximately $671,500 in combined purchases at $21.50 per share. Chairman H. Riley, directors Nicholas Peters and Ravi Mallela, and director Marc Sheinbaum all increased their holdings, signaling confidence in CPI Card Group’s valuation and prospects. Insider purchase filing
• Neutral Sentiment: CPI Card Group completed a secondary public share offering involving existing stockholders. Because the shares were sold by current holders rather than issued by the company, the transaction does not directly raise capital for CPI Card Group, but it can increase the public float and improve trading liquidity. Secondary share offering announcement
• Negative Sentiment: Major shareholder Equity Ulc Parallel49 sold 2.69 million PMTS shares for approximately $54.9 million at an average price of $20.43. The sizable disposition may create an overhang or raise concerns about a large investor reducing its exposure, although it also expands the stock’s available float. Parallel49 SEC filing

Institutional Investors Weigh In On CPI Card Group

A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in shares of CPI Card Group during the 2nd quarter valued at about $910,000. Creek Drive Management Group LLC bought a new stake in CPI Card Group during the 4th quarter worth approximately $440,000. Walleye Capital LLC bought a new stake in CPI Card Group during the 1st quarter worth approximately $358,000. Potomac Capital Management Inc. acquired a new stake in CPI Card Group during the 4th quarter worth approximately $337,000. Finally, Janney Montgomery Scott LLC raised its holdings in CPI Card Group by 10.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,736 shares of the company’s stock worth $214,000 after buying an additional 1,346 shares during the period. Institutional investors and hedge funds own 22.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. B. Riley Financial reiterated a “buy” rating on shares of CPI Card Group in a research report on Friday, August 7th. Zacks Research downgraded shares of CPI Card Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings raised shares of CPI Card Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of CPI Card Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Finally, DA Davidson lifted their price target on shares of CPI Card Group from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, CPI Card Group has an average rating of “Moderate Buy” and an average target price of $30.25.

About CPI Card Group

CPI Card Group Inc is a payment technology company that produces and supports payment cards for financial institutions, fintech companies, government agencies and other organizations. The company’s offerings include credit, debit and prepaid cards, along with card programs designed for consumer, commercial and government payments.

Its products and services include EMV chip cards, contactless and dual-interface cards, metal cards, environmentally focused card products, card personalization and fulfillment.