CPI Card Group Inc. (PMTS) Stock Price Up 6.7%

CPI Card Group Inc. (NASDAQ:PMTS) (TSE:PNT) shares were up 6.7% during mid-day trading on Wednesday . The company traded as high as $1.34 and last traded at $1.28. Approximately 1,101,012 shares were traded during mid-day trading, an increase of 105% from the average daily volume of 536,678 shares. The stock had previously closed at $1.20.

A number of research analysts have issued reports on PMTS shares. ValuEngine upgraded CPI Card Group from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. BMO Capital Markets cut their price target on CPI Card Group from $4.50 to $2.20 and set a “market perform” rating for the company in a research note on Thursday, August 3rd. Zacks Investment Research downgraded CPI Card Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Barrington Research downgraded CPI Card Group from a “market perform” rating to an “underperform” rating in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. CPI Card Group has a consensus rating of “Hold” and a consensus target price of $2.85.

CPI Card Group (NASDAQ:PMTS) (TSE:PNT) last issued its earnings results on Wednesday, August 2nd. The credit services provider reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). CPI Card Group had a negative net margin of 2.46% and a negative return on equity of 1.51%. The company had revenue of $65.85 million during the quarter, compared to analysts’ expectations of $69.16 million. During the same period last year, the business posted $0.05 earnings per share. The company’s quarterly revenue was down 10.7% on a year-over-year basis.

In other CPI Card Group news, insider Lisa Jacoba purchased 43,475 shares of the stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $1.10 per share, for a total transaction of $47,822.50. Following the completion of the transaction, the insider now directly owns 86,423 shares of the company’s stock, valued at $95,065.30. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Jason Bohrer purchased 28,571 shares of the stock in a transaction dated Monday, August 7th. The stock was acquired at an average price of $1.38 per share, for a total transaction of $39,427.98. Following the completion of the transaction, the vice president now directly owns 28,571 shares of the company’s stock, valued at $39,427.98. The disclosure for this purchase can be found here. Insiders bought 112,046 shares of company stock worth $129,750 over the last quarter. Company insiders own 4.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its position in CPI Card Group by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 3,914,201 shares of the credit services provider’s stock worth $11,155,000 after acquiring an additional 48,610 shares during the last quarter. Bank of New York Mellon Corp boosted its position in CPI Card Group by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 601,304 shares of the credit services provider’s stock worth $2,526,000 after acquiring an additional 18,633 shares during the last quarter. Federated Investors Inc. PA boosted its position in CPI Card Group by 8.6% during the second quarter. Federated Investors Inc. PA now owns 426,371 shares of the credit services provider’s stock worth $1,215,000 after acquiring an additional 33,600 shares during the last quarter. State Street Corp boosted its position in CPI Card Group by 37.0% during the second quarter. State Street Corp now owns 372,496 shares of the credit services provider’s stock worth $1,062,000 after acquiring an additional 100,594 shares during the last quarter. Finally, RMB Capital Management LLC boosted its position in CPI Card Group by 166.8% during the first quarter. RMB Capital Management LLC now owns 346,189 shares of the credit services provider’s stock worth $1,454,000 after acquiring an additional 216,414 shares during the last quarter. Hedge funds and other institutional investors own 19.83% of the company’s stock.

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About CPI Card Group

CPI Card Group Inc, formerly CPI Holdings I, Inc, provides Financial Payment Card solutions in North America. The Company is engaged in the design, production, data personalization, packaging and fulfillment of Financial Payment Cards, which it defines as credit cards, debit cards and prepaid debit cards issued on the networks of the Payment Card Brands in the United States, Europe and Canada.

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