CPI Card Group (NASDAQ:PMTS) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded CPI Card Group from “strong buy” to “buy.” Despite the change, analyst coverage overall remains “Moderate Buy,” with a consensus price target of $31.
• Shares opened at $24.93 and were down 0.9%; the stock’s reported 52-week range is $10.81 to $31.25.
• Chairman H. Riley bought 13,953 shares at an average $21.50, while major shareholder Equity Ulc Parallel49 sold about 2.69 million shares for approximately $54.9 million.

CPI Card Group (NASDAQ:PMTS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

PMTS has been the topic of a number of other reports. DA Davidson lifted their price objective on shares of CPI Card Group from $30.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Weiss Ratings reissued a "hold (c)" rating on shares of CPI Card Group in a research note on Wednesday, November 4th. B. Riley Financial reissued a "buy" rating on shares of CPI Card Group in a research report on Friday, August 7th. Finally, Roth Capital reiterated a "buy" rating and set a $32.00 price target on shares of CPI Card Group in a report on Tuesday, August 11th. 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 company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

CPI Card Group Stock Down 0.9%

Shares of NASDAQ:PMTS opened at $24.93 on Friday. The company's 50-day moving average price is $25.36 and its 200 day moving average price is $20.02. The company has a market cap of $289.94 million, a PE ratio of 18.20 and a beta of 1.24. CPI Card Group has a fifty-two week low of $10.81 and a fifty-two week high of $31.25.

Insider Transactions at CPI Card Group

In other news, Chairman H. Riley purchased 13,953 shares of CPI Card Group stock in a transaction dated Monday, September 14th. The stock was acquired at an average cost of $21.50 per share, for a total transaction of $299,989.50. Following the acquisition, the chairman directly owned 277,232 shares in the company, valued at $5,960,488. This represents a 5.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Equity Ulc Parallel49 sold 2,687,921 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $20.43, for a total value of $54,914,226.03. The disclosure for this sale is available in the SEC filing. Insiders purchased 31,232 shares of company stock valued at $671,488 over the last 90 days. Company insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Inspire Investing LLC bought a new position in shares of CPI Card Group during the 3rd quarter valued at $2,521,000. Creek Drive Management Group LLC bought a new stake in CPI Card Group in the third quarter worth $1,226,000. Marshall Wace LLP bought a new stake in CPI Card Group in the third quarter worth $1,201,000. Gratia Capital LLC acquired a new position in CPI Card Group during the third quarter worth $980,000. Finally, Bank of New York Mellon Corp acquired a new position in CPI Card Group during the second quarter worth $910,000. Institutional investors and hedge funds own 22.08% of the company's stock.

About CPI Card Group

CPI Card Group is a payments technology company that designs and produces payment cards and related services. Its offerings include debit, credit and prepaid cards, including EMV chip, contactless, metal and sustainably designed card options. The company also provides card personalization, fulfillment and instant-issuance services, as well as digital payment solutions. Its customers include banks, credit unions, fintech companies and prepaid card program managers. Headquartered in Littleton, Colorado, CPI Card Group primarily serves customers in the United States and Canada.

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