CPI Card Group Inc. $PMTS Shares Newly Purchased by Inspire Investing LLC

Key Points

• Inspire Investing LLC acquired 102,858 CPI Card Group shares worth approximately $2.52 million, giving it a 0.89% stake. Institutional investors collectively own 22.08% of the company.
• PMTS shares opened at $26.89, with a market capitalization of approximately $311.7 million and a 12-month trading range of $10.81 to $31.25.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $30.25.

Inspire Investing LLC acquired a new position in CPI Card Group Inc. (NASDAQ:PMTS - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 102,858 shares of the company's stock, valued at approximately $2,521,000. Inspire Investing LLC owned about 0.89% of CPI Card Group at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. USA Financial Formulas bought a new position in shares of CPI Card Group during the third quarter valued at $47,000. Ancora Advisors LLC purchased a new position in CPI Card Group during the second quarter valued at $41,000. Lazard Asset Management LLC bought a new position in shares of CPI Card Group during the 1st quarter valued at approximately $157,000. Janney Montgomery Scott LLC raised its position in CPI Card Group by 10.1% during the first quarter. Janney Montgomery Scott LLC now owns 14,736 shares of the company's stock valued at $214,000 after purchasing an additional 1,346 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of CPI Card Group during the first quarter valued at approximately $358,000. 22.08% of the stock is owned by institutional investors.

CPI Card Group Price Performance

PMTS stock opened at $26.89 on Monday. The company has a market cap of $311.66 million, a price-to-earnings ratio of 23.38 and a beta of 1.13. CPI Card Group Inc. has a 12 month low of $10.81 and a 12 month high of $31.25. The company has a fifty day moving average price of $26.32 and a 200 day moving average price of $21.63.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PMTS. B. Riley Financial reaffirmed a "buy" rating on shares of CPI Card Group in a research note on Friday, August 7th. DA Davidson boosted their target price on shares of CPI Card Group from $30.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Weiss Ratings raised CPI Card Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Zacks Research downgraded CPI Card Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Roth Capital reaffirmed a "buy" rating and set a $32.00 target price on shares of CPI Card Group in a report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, CPI Card Group currently has an average rating of "Moderate Buy" and an average price target of $30.25.

Insider Activity

In other CPI Card Group news, Chairman H. Riley acquired 13,953 shares of the stock in a transaction dated Monday, September 14th. The stock was acquired at an average price of $21.50 per share, with a total value of $299,989.50. Following the completion of the transaction, the chairman directly owned 277,232 shares in the company, valued at approximately $5,960,488. This trade represents a 5.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Equity Ulc Parallel49 sold 2,687,921 shares of the business's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $20.43, for a total transaction of $54,914,226.03. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have acquired 31,232 shares of company stock valued at $671,488. 5.80% of the stock is owned by corporate insiders.

CPI Card Group Company Profile

CPI Card Group Inc is a payment technology company that designs, manufactures and distributes payment cards and related services in North America. Its customers include banks, credit unions, fintech companies and other financial institutions that issue credit, debit, prepaid and commercial payment cards.

The company's products and services include EMV chip cards, contactless and dual-interface cards, prepaid cards, card personalization, fulfillment and packaging. CPI Card Group also provides instant-issuance solutions that allow financial institutions to produce payment cards at branch locations, along with digital and physical card programs designed to support modern payment experiences.

Founded in 1995, CPI Card Group serves customers across the United States and Canada through manufacturing, personalization and service operations.

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