CPI Card Group Inc. (PMTS) Sees Unusually-High Trading Volume
CPI Card Group Inc. (NASDAQ:PMTS) shares saw unusually-strong trading volume on Monday . Approximately 362,591 shares changed hands during trading, an increase of 63% from the previous session’s volume of 222,380 shares.The stock last traded at $4.48 and had previously closed at $4.75.
A number of research analysts have issued reports on PMTS shares. Goldman Sachs Group Inc. lowered shares of CPI Card Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $15.00 to $7.00 in a research note on Thursday, May 12th. Robert W. Baird lowered shares of CPI Card Group from an “outperform” rating to a “neutral” rating and cut their price target for the company from $14.00 to $4.00 in a research note on Thursday, May 12th. Zacks Investment Research upgraded shares of CPI Card Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 18th. CIBC lowered shares of CPI Card Group from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, May 12th. Finally, Craig Hallum started coverage on shares of CPI Card Group in a research note on Monday, June 27th. They set a “buy” rating and a $8.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.25.
The firm has a market cap of $253.31 million and a PE ratio of 21.23. The firm has a 50 day moving average price of $4.55 and a 200-day moving average price of $7.22.
CPI Card Group (NASDAQ:PMTS) last posted its quarterly earnings results on Wednesday, May 11th. The company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $86.39 million for the quarter, compared to analyst estimates of $88.22 million. During the same quarter in the previous year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts forecast that CPI Card Group Inc. will post $0.50 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 7th. Stockholders of record on Thursday, June 16th were paid a dividend of $0.045 per share. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 4.02%.
In related news, CEO Steve Montross purchased 25,000 shares of the stock in a transaction dated Thursday, June 2nd. The shares were acquired at an average cost of $4.36 per share, with a total value of $109,000.00. Following the purchase, the chief executive officer now directly owns 1,544,143 shares in the company, valued at approximately $6,732,463.48. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Doug Pearce purchased 8,300 shares of the stock in a transaction dated Monday, June 13th. The shares were bought at an average cost of $4.49 per share, for a total transaction of $37,267.00. Following the completion of the purchase, the director now owns 5,125 shares in the company, valued at $23,011.25. The disclosure for this purchase can be found here.
An institutional investor recently bought a new position in CPI Card Group stock. Bank of Montreal Can purchased a new position in CPI Card Group Inc. (NASDAQ:PMTS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 186,980 shares of the company’s stock, valued at approximately $1,993,000. Bank of Montreal Can owned about 0.33% of CPI Card Group as of its most recent SEC filing.
Cpi Card Group Inc is a United States-based global provider of payment solutions, including card production, card personalization, mobile technologies and fulfillment services. It manufactures secured contactless smart cards and provides Financial Institutions with a range of products, including, contactless smart card using radio-frequency identification (RFID), contactless RFID stickers, Europay, MasterCard and Visa (EMV) cards, MicroSD, contactless physical access cards and contactless FOB.
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