CPI Card Group Inc. (NASDAQ:PMTS) Short Interest Up 31.6% in September

CPI Card Group Inc. (NASDAQ:PMTS) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 100,900 shares, a growth of 31.6% from the September 15th total of 76,700 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 34,400 shares, the short-interest ratio is presently 2.9 days.

Insider Activity at CPI Card Group

In related news, Director Marc Sheinbaum bought 2,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $25.26 per share, with a total value of $50,520.00. Following the purchase, the director now directly owns 10,390 shares of the company’s stock, valued at $262,451.40. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of CPI Card Group stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.00, for a total transaction of $28,980,000.00. Following the completion of the transaction, the insider now directly owns 4,813,977 shares of the company’s stock, valued at approximately $101,093,517. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Marc Sheinbaum purchased 2,000 shares of CPI Card Group stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $25.26 per share, for a total transaction of $50,520.00. Following the acquisition, the director now directly owns 10,390 shares of the company’s stock, valued at approximately $262,451.40. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On CPI Card Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PMTS. Rhumbline Advisers boosted its holdings in shares of CPI Card Group by 32.8% in the second quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock valued at $172,000 after acquiring an additional 1,555 shares in the last quarter. Privium Fund Management UK Ltd acquired a new stake in CPI Card Group in the 2nd quarter valued at about $257,000. Denali Advisors LLC grew its stake in shares of CPI Card Group by 19.0% in the 1st quarter. Denali Advisors LLC now owns 16,300 shares of the company’s stock worth $291,000 after purchasing an additional 2,600 shares during the last quarter. Ritholtz Wealth Management acquired a new position in CPI Card Group in the third quarter worth approximately $449,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of CPI Card Group by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 23,979 shares of the company’s stock worth $653,000 after acquiring an additional 5,783 shares during the last quarter. 22.08% of the stock is owned by institutional investors.

CPI Card Group Trading Up 0.1 %

CPI Card Group stock traded up $0.03 during mid-day trading on Tuesday, reaching $23.81. The company’s stock had a trading volume of 16,056 shares, compared to its average volume of 28,410. CPI Card Group has a twelve month low of $12.65 and a twelve month high of $31.00. The business has a 50 day moving average price of $26.20 and a 200-day moving average price of $25.01. The firm has a market cap of $264.81 million, a price-to-earnings ratio of 15.17 and a beta of 1.15.

CPI Card Group (NASDAQ:PMTS) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The company had revenue of $118.82 million for the quarter, compared to analyst estimates of $111.85 million. CPI Card Group had a negative return on equity of 35.79% and a net margin of 4.11%. During the same quarter in the previous year, the company posted $0.55 earnings per share. On average, equities analysts expect that CPI Card Group will post 2.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Lake Street Capital lifted their target price on shares of CPI Card Group from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. StockNews.com raised shares of CPI Card Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 19th.

About CPI Card Group

CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through Debit and Credit, and Prepaid Debit segments. The Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing financial institutions.