CPI Card Group Inc. (NASDAQ:PMTS) Short Interest Update

CPI Card Group Inc. (NASDAQ:PMTS) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 92,100 shares, a growth of 26.0% from the April 30th total of 73,100 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 46,500 shares, the days-to-cover ratio is currently 2.0 days.

CPI Card Group Price Performance

Shares of PMTS stock opened at $22.31 on Tuesday. The business has a fifty day moving average of $24.28 and a 200 day moving average of $28.31. The firm has a market capitalization of $251.68 million, a price-to-earnings ratio of 17.03 and a beta of 1.77. CPI Card Group has a 1 year low of $18.46 and a 1 year high of $35.19.

CPI Card Group (NASDAQ:PMTS) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The company had revenue of $122.76 million for the quarter, compared to analysts’ expectations of $120.90 million. CPI Card Group had a net margin of 3.38% and a negative return on equity of 46.90%. As a group, equities research analysts expect that CPI Card Group will post 1.63 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on PMTS shares. Roth Mkm reissued a “buy” rating and issued a $40.00 price objective on shares of CPI Card Group in a research report on Wednesday, March 5th. Lake Street Capital reduced their target price on CPI Card Group from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. DA Davidson raised their target price on CPI Card Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Wall Street Zen lowered CPI Card Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 9th. Finally, B. Riley raised their target price on CPI Card Group from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, CPI Card Group currently has a consensus rating of “Buy” and a consensus target price of $36.75.

Insider Transactions at CPI Card Group

In other CPI Card Group news, Chairman H Sanford Riley acquired 15,000 shares of the stock in a transaction dated Friday, May 9th. The stock was purchased at an average price of $21.51 per share, with a total value of $322,650.00. Following the transaction, the chairman now directly owns 19,966 shares of the company’s stock, valued at $429,468.66. This trade represents a 302.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On CPI Card Group

A number of institutional investors have recently modified their holdings of PMTS. SG Americas Securities LLC purchased a new position in shares of CPI Card Group during the 4th quarter valued at about $104,000. Kornitzer Capital Management Inc. KS purchased a new position in shares of CPI Card Group in the 4th quarter valued at about $1,046,000. Pembroke Management LTD increased its stake in shares of CPI Card Group by 44.5% in the 4th quarter. Pembroke Management LTD now owns 38,481 shares of the company’s stock valued at $1,150,000 after purchasing an additional 11,854 shares in the last quarter. IFP Advisors Inc increased its stake in shares of CPI Card Group by 96.6% in the 4th quarter. IFP Advisors Inc now owns 3,048 shares of the company’s stock valued at $91,000 after purchasing an additional 1,498 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CPI Card Group by 10.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,412 shares of the company’s stock valued at $700,000 after purchasing an additional 2,178 shares in the last quarter. Hedge funds and other institutional investors own 22.08% of the company’s stock.

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.