Ravi Mallela Acquires 1,000 Shares of CPI Card Group (NASDAQ:PMTS) Stock

CPI Card Group Inc. (NASDAQ:PMTS) Director Ravi Mallela acquired 1,000 shares of CPI Card Group stock in a transaction on Monday, September 14th. The shares were purchased at an average price of $21.50 per share, for a total transaction of $21,500.00. Following the completion of the acquisition, the director directly owned 12,471 shares in the company, valued at $268,126.50. This trade represents a 8.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

CPI Card Group Trading Up 0.1%

Shares of PMTS stock opened at $24.29 on Wednesday. CPI Card Group Inc. has a twelve month low of $10.81 and a twelve month high of $31.25. The stock has a fifty day simple moving average of $24.62 and a two-hundred day simple moving average of $19.51. The stock has a market capitalization of $281.52 million, a price-to-earnings ratio of 21.12 and a beta of 0.97.

Institutional Trading of CPI Card Group

Several hedge funds have recently modified their holdings of PMTS. Bank of New York Mellon Corp acquired a new position in shares of CPI Card Group during the second quarter worth $910,000. Creek Drive Management Group LLC purchased a new stake in CPI Card Group in the fourth quarter valued at about $440,000. Walleye Capital LLC acquired a new stake in CPI Card Group in the first quarter worth about $358,000. Potomac Capital Management Inc. acquired a new stake in CPI Card Group in the fourth quarter worth about $337,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of CPI Card Group during the first quarter worth about $157,000. 22.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings raised shares of CPI Card Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Roth Capital reiterated a “buy” rating and set a $32.00 price objective on shares of CPI Card Group in a research note on Tuesday, August 11th. B. Riley Financial reissued a “buy” rating on shares of CPI Card Group in a report on Friday, August 7th. Wall Street Zen raised shares of CPI Card Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Finally, Zacks Research lowered CPI Card Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.25.

Key CPI Card Group News

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

• Positive Sentiment: Chairman H. Sanford Riley and directors Nicholas Peters, Ravi Mallela, and Marc Sheinbaum collectively purchased approximately $671,500 of PMTS stock at $21.50 per share. The broad-based insider buying may signal that company leadership views the shares as undervalued or expects continued business strength. CPI Card Group insider purchase reports
• Positive Sentiment: The stock was a major recent mover on trading volume well above its average. The momentum follows a strong advance from its 52-week low, while analysts maintain a generally favorable outlook, including a consensus “Moderate Buy” rating and an average price target of $30.25. Zacks PMTS stock analysis
• Neutral Sentiment: CPI Card Group completed a secondary public offering involving shares sold by existing stockholders. Since the company did not issue new shares, it did not receive new capital; the transaction may nevertheless increase the public float and improve liquidity. Secondary 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 exit could create selling pressure or investor concern about shareholder conviction, despite potentially expanding the stock’s float. Parallel49 SEC filing
• Negative Sentiment: Zacks cautioned that recent earnings-estimate revision trends may not support continued near-term gains. This presents a fundamental risk to the rally, particularly with PMTS trading substantially above its 200-day moving average. Yahoo Finance PMTS analysis

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.