CPI Card Group Inc. (NASDAQ:PMTS) Sees Large Growth in Short Interest

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

Analyst Ratings Changes

PMTS has been the topic of a number of recent analyst reports. B. Riley lifted 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 report on Wednesday, March 5th. DA Davidson lifted their target price on CPI Card Group from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Roth Mkm restated a "buy" rating and issued a $40.00 price target on shares of CPI Card Group in a report on Wednesday, March 5th. Lake Street Capital cut their price objective on CPI Card Group from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Wall Street Zen cut CPI Card Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $36.75.

CPI Card Group Price Performance

Shares of PMTS traded down $1.34 during midday trading on Wednesday, hitting $21.43. The stock had a trading volume of 36,663 shares, compared to its average volume of 37,014. The firm has a market cap of $241.75 million, a price-to-earnings ratio of 16.36 and a beta of 1.77. The company has a 50 day simple moving average of $24.13 and a two-hundred day simple moving average of $28.27. CPI Card Group has a twelve month low of $18.46 and a twelve month high of $35.19.

CPI Card Group (NASDAQ:PMTS - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.16). The firm had revenue of $122.76 million during the quarter, compared to the consensus estimate of $120.90 million. CPI Card Group had a net margin of 3.38% and a negative return on equity of 46.90%. Analysts forecast that CPI Card Group will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling at CPI Card Group

In other CPI Card Group news, Chairman H Sanford Riley bought 15,000 shares of the company's stock in a transaction on Friday, May 9th. The stock was bought at an average price of $21.51 per share, for a total transaction of $322,650.00. Following the transaction, the chairman now owns 19,966 shares of the company's stock, valued at approximately $429,468.66. The trade was a 302.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.80% of the company's stock.

Institutional Trading of CPI Card Group

A number of institutional investors have recently made changes to their positions in the business. US Bancorp DE bought a new position in CPI Card Group in the first quarter valued at $33,000. Russell Investments Group Ltd. grew its holdings in shares of 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 acquiring an additional 1,554 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of CPI Card Group by 44.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,503 shares of the company's stock valued at $75,000 after acquiring an additional 776 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in CPI Card Group by 355.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,665 shares of the company's stock worth $80,000 after acquiring an additional 2,080 shares in the last quarter. Finally, Virtus Investment Advisers Inc. acquired a new position in CPI Card Group during the fourth quarter valued at approximately $84,000. 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.