CPI Card Group Inc. (NASDAQ:PMTS) Sees Large Growth in Short Interest

CPI Card Group Inc. (NASDAQ:PMTS) was the recipient of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 295,339 shares, an increase of 15.3% from the February 12th total of 256,059 shares. Based on an average daily trading volume, of 43,986 shares, the days-to-cover ratio is presently 6.7 days. Approximately 2.7% of the company’s shares are short sold. Approximately 2.7% of the company’s shares are short sold. Based on an average daily trading volume, of 43,986 shares, the days-to-cover ratio is presently 6.7 days.

CPI Card Group Stock Performance

Shares of CPI Card Group stock traded down $0.19 during trading hours on Tuesday, reaching $14.68. The company’s stock had a trading volume of 4,801 shares, compared to its average volume of 56,900. The company has a market capitalization of $168.23 million, a P/E ratio of 11.74 and a beta of 1.22. The stock’s fifty day simple moving average is $13.34 and its two-hundred day simple moving average is $14.44. CPI Card Group has a one year low of $10.81 and a one year high of $30.60.

CPI Card Group (NASDAQ:PMTS) last posted its earnings results on Thursday, March 5th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.50 by $0.27. CPI Card Group had a net margin of 2.75% and a negative return on equity of 78.82%. The company had revenue of $153.05 million during the quarter, compared to the consensus estimate of $145.22 million. As a group, research analysts forecast that CPI Card Group will post 1.63 earnings per share for the current year.

Institutional Trading of CPI Card Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacific Ridge Capital Partners LLC raised its stake in shares of CPI Card Group by 75.0% in the third quarter. Pacific Ridge Capital Partners LLC now owns 391,325 shares of the company’s stock worth $5,925,000 after purchasing an additional 167,764 shares during the last quarter. Wasatch Advisors LP boosted its holdings in CPI Card Group by 56.3% during the second quarter. Wasatch Advisors LP now owns 357,754 shares of the company’s stock worth $8,486,000 after purchasing an additional 128,808 shares during the last quarter. Vector Capital Management L.P. grew its position in CPI Card Group by 18.6% in the 3rd quarter. Vector Capital Management L.P. now owns 459,314 shares of the company’s stock worth $6,954,000 after purchasing an additional 71,891 shares in the last quarter. Pembroke Management LTD grew its position in CPI Card Group by 87.9% in the 3rd quarter. Pembroke Management LTD now owns 99,567 shares of the company’s stock worth $1,507,000 after purchasing an additional 46,575 shares in the last quarter. Finally, Aristeia Capital L.L.C. purchased a new stake in CPI Card Group in the 4th quarter valued at about $597,000. 22.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PMTS has been the subject of several recent analyst reports. Zacks Research raised shares of CPI Card Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of CPI Card Group in a research note on Wednesday, January 21st. DA Davidson restated a “buy” rating and issued a $30.00 price target on shares of CPI Card Group in a report on Wednesday, March 11th. Finally, Wall Street Zen raised shares of CPI Card Group from a “hold” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.25.

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.