Insider Buying: CPI Card Group (NASDAQ:PMTS) Director Purchases 1,000 Shares of Stock

CPI Card Group Inc. (NASDAQ:PMTS) Director Ravi Mallela bought 1,000 shares of the stock in a transaction dated Monday, September 14th. The shares were bought at an average cost of $21.50 per share, with a total value of $21,500.00. Following the completion of the purchase, the director directly owned 12,471 shares of the company’s stock, valued at approximately $268,126.50. This trade represents a 8.72% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

CPI Card Group Stock Up 7.8%

PMTS stock traded up $1.76 during trading on Monday, hitting $24.26. The company had a trading volume of 612,736 shares, compared to its average volume of 162,742. CPI Card Group Inc. has a 52-week low of $10.81 and a 52-week high of $31.25. The company has a 50 day simple moving average of $24.44 and a 200-day simple moving average of $19.35. The firm has a market capitalization of $279.72 million, a P/E ratio of 21.10 and a beta of 0.97.

Institutional Trading of CPI Card Group

Several institutional investors have recently modified their holdings of PMTS. California State Teachers Retirement System raised its position in shares of CPI Card Group by 453.8% in the second quarter. California State Teachers Retirement System now owns 2,265 shares of the company’s stock valued at $47,000 after buying an additional 1,856 shares during the last quarter. Ancora Advisors LLC purchased a new position in CPI Card Group during the second quarter worth approximately $41,000. Bank of New York Mellon Corp acquired a new position in CPI Card Group during the second quarter worth $910,000. Lazard Asset Management LLC purchased a new stake in CPI Card Group in the 1st quarter valued at $157,000. Finally, Walleye Capital LLC purchased a new stake in shares of CPI Card Group in the first quarter valued at about $358,000. Institutional investors and hedge funds own 22.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. DA Davidson boosted their price target on CPI Card Group from $30.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded CPI Card Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Weiss Ratings raised CPI Card Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Roth Capital reissued a “buy” rating and set a $32.00 price target on shares of CPI Card Group in a research report on Tuesday, August 11th. Finally, B. Riley Financial restated a “buy” rating on shares of CPI Card Group in a report on Friday, August 7th. Four equities research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.25.

CPI Card Group Company Profile

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.