Ritholtz Wealth Management Sells 9,051 Shares of CPI Card Group Inc. $PMTS

Ritholtz Wealth Management lowered its stake in CPI Card Group Inc. (NASDAQ:PMTS) by 27.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,119 shares of the company’s stock after selling 9,051 shares during the period. Ritholtz Wealth Management’s holdings in CPI Card Group were worth $572,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE bought a new position in CPI Card Group in the first quarter valued at about $33,000. Virtus Advisers LLC bought a new position in CPI Card Group in the first quarter valued at about $101,000. IFP Advisors Inc grew its position in CPI Card Group by 52.5% in the second quarter. IFP Advisors Inc now owns 4,342 shares of the company’s stock valued at $103,000 after acquiring an additional 1,494 shares during the last quarter. Russell Investments Group Ltd. grew 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, Rhumbline Advisers grew its position in CPI Card Group by 7.3% in the first quarter. Rhumbline Advisers now owns 6,948 shares of the company’s stock valued at $203,000 after acquiring an additional 474 shares during the last quarter. Institutional investors own 22.08% of the company’s stock.

Insider Buying and Selling

In related news, Chairman H Sanford Riley bought 10,000 shares of CPI Card Group stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $15.75 per share, for a total transaction of $157,500.00. Following the completion of the acquisition, the chairman directly owned 31,033 shares of the company’s stock, valued at approximately $488,769.75. The trade was a 47.54% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. DA Davidson decreased their target price on CPI Card Group from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Lake Street Capital decreased their target price on CPI Card Group from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Zacks Research upgraded CPI Card Group to a “hold” rating in a research report on Monday, August 11th. Wall Street Zen cut CPI Card Group from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Weiss Ratings cut CPI Card Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CPI Card Group has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

CPI Card Group Trading Down 1.2%

NASDAQ:PMTS opened at $15.09 on Monday. The stock has a market cap of $171.12 million, a P/E ratio of 13.47 and a beta of 1.38. The stock’s 50-day moving average is $15.26 and its 200-day moving average is $20.09. CPI Card Group Inc. has a 1-year low of $12.52 and a 1-year high of $35.19.

CPI Card Group (NASDAQ:PMTS) last released its quarterly earnings results on Friday, August 8th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.52). The firm had revenue of $129.75 million for the quarter, compared to the consensus estimate of $132.96 million. CPI Card Group had a negative return on equity of 58.00% and a net margin of 2.66%. As a group, equities analysts forecast that CPI Card Group Inc. will post 1.63 EPS for the current year.

CPI Card Group Company Profile

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.