Zacks Research Downgrades CPI Card Group (NASDAQ:PMTS) to Hold

CPI Card Group (NASDAQ:PMTS) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also commented on PMTS. Lake Street Capital reiterated a “buy” rating and set a $27.00 price objective on shares of CPI Card Group in a research note on Wednesday, May 6th. Roth Capital reissued a “buy” rating and issued a $25.00 price objective on shares of CPI Card Group in a research report on Tuesday, May 5th. Weiss Ratings upgraded CPI Card Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Wall Street Zen lowered CPI Card Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, DA Davidson restated a “buy” rating and set a $30.00 price objective on shares of CPI Card Group in a report on Tuesday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

CPI Card Group Trading Down 6.3%

Shares of NASDAQ:PMTS opened at $19.18 on Monday. The company has a 50-day moving average price of $17.75 and a 200 day moving average price of $15.59. CPI Card Group has a 12 month low of $10.81 and a 12 month high of $24.00. The company has a market cap of $220.19 million, a price-to-earnings ratio of 18.80 and a beta of 1.03.

CPI Card Group (NASDAQ:PMTS) last released its earnings results on Tuesday, May 5th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. CPI Card Group had a negative return on equity of 92.16% and a net margin of 2.15%.The firm had revenue of $147.11 million for the quarter, compared to analysts’ expectations of $134.69 million. As a group, equities analysts forecast that CPI Card Group will post 2.52 EPS for the current year.

Insider Activity

In other news, insider Donna Abbey Carmignani sold 4,870 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $15.32, for a total transaction of $74,608.40. Following the sale, the insider owned 5,478 shares of the company’s stock, valued at $83,922.96. This trade represents a 47.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman H Sanford Riley purchased 5,400 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $86,400.00. Following the completion of the acquisition, the chairman directly owned 5,400 shares of the company’s stock, valued at $86,400. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 5.80% of the stock is owned by company insiders.

Institutional Trading of CPI Card Group

A number of institutional investors and hedge funds have recently made changes to their positions in PMTS. Kestra Advisory Services LLC acquired a new stake in CPI Card Group in the 4th quarter worth about $29,000. Los Angeles Capital Management LLC purchased a new position in shares of CPI Card Group in the fourth quarter valued at approximately $52,000. Lazard Asset Management LLC boosted its stake in shares of CPI Card Group by 100.4% in the second quarter. Lazard Asset Management LLC now owns 2,928 shares of the company’s stock worth $69,000 after acquiring an additional 1,467 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of CPI Card Group by 37.0% in the third quarter. IFP Advisors Inc now owns 5,949 shares of the company’s stock worth $91,000 after acquiring an additional 1,607 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of CPI Card Group by 73.1% during the fourth quarter. Wells Fargo & Company MN now owns 6,769 shares of the company’s stock worth $99,000 after purchasing an additional 2,859 shares in the last quarter. 22.08% of the stock is currently owned by hedge funds and other institutional investors.

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.