Lake Street Capital Raises CPI Card Group (NASDAQ:PMTS) Price Target to $37.00

CPI Card Group (NASDAQ:PMTS) had its target price boosted by analysts at Lake Street Capital from $33.00 to $37.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s target price indicates a potential upside of 11.78% from the stock’s previous close.

Separately, DA Davidson assumed coverage on CPI Card Group in a research report on Friday, November 22nd. They set a “buy” rating and a $36.00 price objective for the company. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $37.67.

CPI Card Group Stock Down 1.9 %

Shares of PMTS stock opened at $33.10 on Wednesday. The stock has a market cap of $369.40 million, a P/E ratio of 25.27 and a beta of 1.39. The business has a fifty day simple moving average of $26.01 and a 200-day simple moving average of $26.84. CPI Card Group has a fifty-two week low of $15.00 and a fifty-two week high of $34.01.

Insider Buying and Selling

In other CPI Card Group news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.00, for a total value of $28,980,000.00. Following the sale, the insider now directly owns 4,813,977 shares of the company’s stock, valued at approximately $101,093,517. This trade represents a 22.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director H Sanford Riley acquired 2,000 shares of CPI Card Group stock in a transaction dated Monday, December 2nd. The stock was purchased at an average cost of $32.51 per share, for a total transaction of $65,020.00. Following the completion of the purchase, the director now directly owns 9,500 shares in the company, valued at approximately $308,845. This represents a 26.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CPI Card Group

Several hedge funds and other institutional investors have recently modified their holdings of PMTS. Vanguard Group Inc. lifted its position in CPI Card Group by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 340,945 shares of the company’s stock worth $6,089,000 after acquiring an additional 10,265 shares in the last quarter. Vector Capital Management L.P. lifted its position in CPI Card Group by 77.7% during the 2nd quarter. Vector Capital Management L.P. now owns 248,737 shares of the company’s stock worth $6,778,000 after acquiring an additional 108,756 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in CPI Card Group by 31.8% during 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 in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in CPI Card Group during the 3rd quarter worth approximately $205,000. Finally, Rhumbline Advisers increased its holdings in CPI Card Group by 32.8% during the 2nd quarter. Rhumbline Advisers now owns 6,302 shares of the company’s stock worth $172,000 after purchasing an additional 1,555 shares during the last quarter. 22.08% of the stock is owned by institutional investors and hedge funds.

CPI Card Group Company Profile

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.