CPI Card Group (NASDAQ:PMTS) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of CPI Card Group (NASDAQ:PMTS) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on PMTS. Wall Street Zen cut CPI Card Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. DA Davidson reissued a “buy” rating and set a $30.00 price objective on shares of CPI Card Group in a research report on Tuesday. Roth Capital restated a “buy” rating and issued a $25.00 price objective on shares of CPI Card Group in a report on Tuesday, May 5th. Weiss Ratings raised shares of CPI Card Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Finally, Lake Street Capital reiterated a “buy” rating and set a $27.00 price target on shares of CPI Card Group in a research report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, CPI Card Group presently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

CPI Card Group Price Performance

NASDAQ:PMTS opened at $19.18 on Monday. The firm has a market capitalization of $220.19 million, a price-to-earnings ratio of 18.80 and a beta of 1.03. The company’s 50-day moving average is $17.75 and its two-hundred day moving average is $15.59. CPI Card Group has a 1-year low of $10.81 and a 1-year high of $24.00.

CPI Card Group (NASDAQ:PMTS) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.32 by $0.06. CPI Card Group had a net margin of 2.15% and a negative return on equity of 92.16%. The firm had revenue of $147.11 million for the quarter, compared to analyst estimates of $134.69 million. As a group, equities analysts anticipate that CPI Card Group will post 2.52 earnings per share for the current fiscal year.

Insider Activity at CPI Card Group

In other CPI Card Group news, Chairman H Sanford Riley purchased 6,500 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $104,000.00. Following the completion of the purchase, the chairman directly owned 259,938 shares in the company, valued at approximately $4,159,008. The trade was a 2.56% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donna Abbey Carmignani sold 4,870 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $15.32, for a total value of $74,608.40. Following the sale, the insider directly owned 5,478 shares in the company, valued at $83,922.96. This represents a 47.06% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacific Ridge Capital Partners LLC raised its position in CPI Card Group by 13.1% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 442,464 shares of the company’s stock valued at $6,495,000 after purchasing an additional 51,139 shares in the last quarter. Creek Drive Management Group LLC acquired a new stake in CPI Card Group in the fourth quarter valued at approximately $440,000. Trexquant Investment LP raised its holdings in CPI Card Group by 118.4% in the fourth quarter. Trexquant Investment LP now owns 32,991 shares of the company’s stock valued at $484,000 after acquiring an additional 17,886 shares in the last quarter. First Trust Advisors LP lifted its stake in CPI Card Group by 5.5% in the second quarter. First Trust Advisors LP now owns 14,987 shares of the company’s stock worth $355,000 after acquiring an additional 782 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in CPI Card Group in the second quarter worth approximately $255,000. 22.08% of the stock is owned by institutional investors and hedge funds.

About CPI Card Group

CPI Card Group, Inc (NASDAQ: PMTS) is a leading provider of payment, identification and related credential solutions for financial institutions, governments and private enterprises. The company specializes in the design, manufacturing and personalization of secure plastic and metal cards, including EMV chip, magnetic-stripe and contactless cards. CPI Card Group also offers digital credentialing services and cloud-based card management tools that enable real-time controls, mobile wallet integration, fraud monitoring and analytics.

With a focus on security and innovation, CPI Card Group integrates advanced features such as holograms, microprinting, RFID/NFC technology and laser-engraved artwork into its card products.