CPI Card Group Inc. (PMTS) Sees Large Volume Increase
Shares of CPI Card Group Inc. (NASDAQ:PMTS) saw unusually-strong trading volume on Wednesday . Approximately 377,425 shares traded hands during trading, an increase of 107% from the previous session’s volume of 182,401 shares.The stock last traded at $4.17 and had previously closed at $4.44.
A number of analysts have recently issued reports on PMTS shares. Zacks Investment Research downgraded CPI Card Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 27th. Goldman Sachs Group Inc. downgraded CPI Card Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $15.00 to $7.00 in a research report on Thursday, May 12th. Robert W. Baird reiterated a “hold” rating on shares of CPI Card Group in a research report on Monday, May 16th. CIBC downgraded CPI Card Group from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, May 12th. Finally, Craig Hallum started coverage on CPI Card Group in a research report on Monday, June 27th. They set a “buy” rating and a $8.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. CPI Card Group presently has a consensus rating of “Hold” and an average price target of $9.25.
The stock has a market capitalization of $235.78 million and a P/E ratio of 19.76. The firm has a 50 day moving average price of $4.73 and a 200-day moving average price of $6.48.
CPI Card Group (NASDAQ:PMTS) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by $0.01. The company earned $73.70 million during the quarter, compared to the consensus estimate of $69.45 million. CPI Card Group’s revenue was down 22.8% on a year-over-year basis. Analysts expect that CPI Card Group Inc. will post $0.50 earnings per share for the current fiscal year.
In related news, Director Doug Pearce purchased 8,300 shares of CPI Card Group stock in a transaction on Monday, June 13th. The stock was acquired at an average price of $4.49 per share, for a total transaction of $37,267.00. Following the completion of the transaction, the director now directly owns 5,125 shares in the company, valued at approximately $23,011.25. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Chris Bakke purchased 18,292 shares of CPI Card Group stock in a transaction on Monday, May 16th. The stock was bought at an average price of $4.23 per share, with a total value of $77,375.16. Following the transaction, the chief accounting officer now owns 18,292 shares of the company’s stock, valued at $77,375.16. 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 186,980 shares of the company’s stock, valued at approximately $1,993,000. Bank of Montreal Can owned 0.33% of CPI Card Group as of its most recent filing with the SEC.
CPI Card Group Inc, formerly CPI Holdings I, Inc, provides Financial Payment Card solutions in North America. The Company is engaged in the design, production, data personalization, packaging and fulfillment of Financial Payment Cards, which it defines as credit cards, debit cards and prepaid debit cards issued on the networks of the Payment Card Brands in the United States, Europe and Canada.
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