Aristeia Capital L.L.C. Makes New Investment in CPI Card Group Inc. (NASDAQ:PMTS)

Aristeia Capital L.L.C. purchased a new stake in CPI Card Group Inc. (NASDAQ:PMTS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,803 shares of the company's stock, valued at approximately $622,000. Aristeia Capital L.L.C. owned approximately 0.19% of CPI Card Group as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in shares of CPI Card Group in the 3rd quarter valued at $305,000. Geode Capital Management LLC grew its holdings in shares of CPI Card Group by 2.7% during the third quarter. Geode Capital Management LLC now owns 108,629 shares of the company's stock worth $3,024,000 after purchasing an additional 2,828 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of CPI Card Group by 16.9% during the fourth quarter. Ritholtz Wealth Management now owns 18,840 shares of the company's stock worth $563,000 after purchasing an additional 2,723 shares in the last quarter. Barclays PLC lifted its holdings in shares of CPI Card Group by 251.2% in the 3rd quarter. Barclays PLC now owns 7,330 shares of the company's stock valued at $205,000 after purchasing an additional 5,243 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position 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 during the period. 22.08% of the stock is currently owned by hedge funds and other institutional investors.

CPI Card Group Stock Performance

NASDAQ PMTS traded down $0.78 during mid-day trading on Tuesday, reaching $25.34. 51,713 shares of the stock were exchanged, compared to its average volume of 34,127. CPI Card Group Inc. has a 1-year low of $18.01 and a 1-year high of $35.19. The business's fifty day simple moving average is $27.38 and its 200 day simple moving average is $28.72. The stock has a market capitalization of $285.46 million, a PE ratio of 19.34 and a beta of 1.77.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PMTS. B. Riley increased their price target on shares of CPI Card Group from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. DA Davidson increased their target price on shares of CPI Card Group from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, Roth Mkm restated a "buy" rating and issued a $40.00 price target on shares of CPI Card Group in a research report on Wednesday, March 5th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, CPI Card Group presently has an average rating of "Buy" and a consensus target price of $37.25.

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.