CPI Card Group Inc. (NASDAQ:PMTS) Short Interest Up 26.0% in May

CPI Card Group Inc. (NASDAQ:PMTS - Get Free Report) was the target of a large increase in short interest in 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 daily volume of 46,500 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.6% of the shares of the stock are sold short.

Insider Transactions at CPI Card Group

In related news, Chairman H Sanford Riley purchased 15,000 shares of the stock in a transaction dated Friday, May 9th. The shares were acquired at an average cost of $21.51 per share, with a total value of $322,650.00. Following the purchase, the chairman now directly owns 19,966 shares in the company, valued at $429,468.66. This trade represents a 302.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE purchased a new position in CPI Card Group in the 1st quarter valued at about $33,000. Russell Investments Group Ltd. lifted 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 in the last quarter. Wells Fargo & Company MN lifted 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 in the last quarter. Tower Research Capital LLC TRC lifted 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 in the last quarter. Finally, Virtus Investment Advisers Inc. purchased a new position in CPI Card Group in the 4th quarter valued at about $84,000. 22.08% of the stock is currently owned by hedge funds and other institutional investors.

CPI Card Group Stock Performance

NASDAQ PMTS traded up $0.07 during trading hours on Friday, reaching $21.79. The company's stock had a trading volume of 24,662 shares, compared to its average volume of 37,089. The stock has a market cap of $245.81 million, a PE ratio of 16.63 and a beta of 1.36. CPI Card Group has a fifty-two week low of $18.46 and a fifty-two week high of $35.19. The company's 50-day moving average is $23.69 and its two-hundred day moving average is $28.16.

CPI Card Group (NASDAQ:PMTS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.16). The business had revenue of $122.76 million during the quarter, compared to analyst estimates of $120.90 million. CPI Card Group had a net margin of 3.38% and a negative return on equity of 46.90%. Equities analysts expect that CPI Card Group will post 1.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PMTS. Lake Street Capital lowered their price target on shares of CPI Card Group from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen cut shares of CPI Card Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 9th. DA Davidson upped their price target 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. B. Riley increased their price objective on shares of CPI Card Group from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Finally, Roth Mkm reissued a "buy" rating and issued a $40.00 price objective on shares of CPI Card Group in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $36.75.

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.