Ravi Mallela Acquires 623 Shares of CPI Card Group Inc. (NASDAQ:PMTS) Stock

Key Points

• Director Ravi Mallela of CPI Card Group Inc. acquired 623 shares at an average price of $16.11, increasing his ownership by 13.54%.
• CPI Card Group reported a loss in earnings for the last quarter, with EPS of $0.04, missing the expected $0.56, alongside a revenue of $129.75 million.
• The company's stock has been rated as a "Buy" by several analysts, with an average target price of $34.00 despite recent downward trading activity.

CPI Card Group Inc. (NASDAQ:PMTS - Get Free Report) Director Ravi Mallela acquired 623 shares of the business's stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of $16.11 per share, with a total value of $10,036.53. Following the acquisition, the director owned 5,225 shares in the company, valued at $84,174.75. The trade was a 13.54% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

CPI Card Group Stock Performance

Shares of NASDAQ PMTS traded up $0.22 during midday trading on Tuesday, reaching $15.83. 2,255 shares of the stock were exchanged, compared to its average volume of 48,030. The company has a 50 day simple moving average of $21.03 and a 200 day simple moving average of $24.48. The stock has a market capitalization of $179.46 million, a P/E ratio of 14.13 and a beta of 1.31. CPI Card Group Inc. has a twelve month low of $12.52 and a twelve month high of $35.19.

CPI Card Group (NASDAQ:PMTS - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.52). The firm had revenue of $129.75 million for the quarter, compared to analyst estimates of $132.96 million. CPI Card Group had a negative return on equity of 58.00% and a net margin of 2.66%. On average, research analysts expect that CPI Card Group Inc. will post 1.63 earnings per share for the current year.

Institutional Trading of CPI Card Group

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE acquired a new stake in CPI Card Group in the 1st quarter valued at approximately $33,000. Russell Investments Group Ltd. increased its holdings in CPI Card Group by 1,635.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,649 shares of the company's stock valued at $49,000 after purchasing an additional 1,554 shares during the last quarter. Lazard Asset Management LLC increased its holdings in CPI Card Group by 100.4% in the 2nd quarter. Lazard Asset Management LLC now owns 2,928 shares of the company's stock valued at $69,000 after purchasing an additional 1,467 shares during the last quarter. Wells Fargo & Company MN increased its holdings in CPI Card Group by 44.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,503 shares of the company's stock valued at $75,000 after purchasing an additional 776 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in CPI Card Group by 355.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,665 shares of the company's stock valued at $80,000 after purchasing an additional 2,080 shares during the last quarter. Institutional investors and hedge funds own 22.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PMTS. DA Davidson cut their price objective on shares of CPI Card Group from $38.00 to $32.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Wall Street Zen downgraded shares of CPI Card Group from a "buy" rating to a "hold" rating in a report on Saturday. Lake Street Capital cut their price target on shares of CPI Card Group from $35.00 to $30.00 and set a "buy" rating for the company in a report on Monday, August 11th. Finally, Zacks Research upgraded shares of CPI Card Group to a "hold" rating in a report on Monday, August 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.00.

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.