Bank of New York Mellon Corp Invests $910,000 in CPI Card Group Inc. $PMTS

Key Points

• Bank of New York Mellon acquired 43,809 shares of CPI Card Group, valued at approximately $910,000, giving it a 0.38% stake. Institutional investors collectively own 22.08% of the company.
• CPI Card Group shares opened at $26.94, with a market capitalization of about $310.6 million, and have traded between $10.81 and $31.25 over the past year.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Holds. The stock has a “Moderate Buy” consensus rating and an average price target of $30.25.

Bank of New York Mellon Corp bought a new stake in shares of CPI Card Group Inc. (NASDAQ:PMTS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 43,809 shares of the company's stock, valued at approximately $910,000. Bank of New York Mellon Corp owned 0.38% of CPI Card Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PMTS. Lazard Asset Management LLC acquired a new position in shares of CPI Card Group during the first quarter valued at about $157,000. Walleye Capital LLC acquired a new position in CPI Card Group during the 1st quarter worth approximately $358,000. Janney Montgomery Scott LLC raised its stake in CPI Card Group by 10.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,736 shares of the company's stock worth $214,000 after buying an additional 1,346 shares during the period. Creek Drive Management Group LLC bought a new position in CPI Card Group in the fourth quarter worth approximately $440,000. Finally, Aristeia Capital L.L.C. acquired a new stake in CPI Card Group in the fourth quarter valued at approximately $597,000. 22.08% of the stock is owned by institutional investors.

CPI Card Group Stock Down 4.6%

PMTS stock opened at $26.94 on Friday. The firm has a market cap of $310.62 million, a PE ratio of 23.43 and a beta of 0.97. The business has a 50 day moving average of $24.40 and a 200-day moving average of $19.27. CPI Card Group Inc. has a 12-month low of $10.81 and a 12-month high of $31.25.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PMTS shares. DA Davidson increased their target price on CPI Card Group from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Weiss Ratings raised shares of CPI Card Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of CPI Card Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 25th. Zacks Research cut shares of CPI Card Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Roth Capital reiterated a "buy" rating and set a $32.00 price target on shares of CPI Card Group in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $30.25.

CPI Card Group Company Profile

CPI Card Group, Inc NASDAQ: PMTS is a leading provider of payment, identification and related credential solutions for financial institutions, governments and private enterprises. The company specializes in the design, manufacturing and personalization of secure plastic and metal cards, including EMV chip, magnetic-stripe and contactless cards. CPI Card Group also offers digital credentialing services and cloud-based card management tools that enable real-time controls, mobile wallet integration, fraud monitoring and analytics.

With a focus on security and innovation, CPI Card Group integrates advanced features such as holograms, microprinting, RFID/NFC technology and laser-engraved artwork into its card products.

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