CPI Card Group Inc. $PMTS Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in CPI Card Group by 51.1%, owning 46,624 shares after selling 48,772 shares in the 1st quarter, which valued their holding at approximately $1.36 million.
• Wall Street analysts have downgraded CPI Card Group's rating from "buy" to "hold", with a consensus price target now set at $34.00.
• CPI Card Group reported a net margin of 2.66% for the last quarter, significantly missing earnings expectations with reported earnings of $0.04 per share compared to a consensus estimate of $0.56.

Goldman Sachs Group Inc. reduced its position in CPI Card Group Inc. (NASDAQ:PMTS - Free Report) by 51.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 46,624 shares of the company's stock after selling 48,772 shares during the period. Goldman Sachs Group Inc. owned 0.41% of CPI Card Group worth $1,360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of CPI Card Group in the 1st quarter valued at about $1,685,000. Northern Trust Corp lifted its holdings in shares of CPI Card Group by 16.3% in the 4th quarter. Northern Trust Corp now owns 49,081 shares of the company's stock valued at $1,467,000 after purchasing an additional 6,886 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of CPI Card Group by 127.1% in the 4th quarter. Millennium Management LLC now owns 46,412 shares of the company's stock valued at $1,387,000 after purchasing an additional 25,971 shares during the last quarter. Crown Advisors Management Inc. purchased a new stake in shares of CPI Card Group in the 1st quarter valued at about $1,195,000. Finally, Linden Thomas Advisory Services LLC lifted its holdings in shares of CPI Card Group by 12.0% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 40,186 shares of the company's stock valued at $1,172,000 after purchasing an additional 4,316 shares during the last quarter. 22.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on PMTS shares. Wall Street Zen downgraded CPI Card Group from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Lake Street Capital reduced their price objective on CPI Card Group from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Zacks Research raised CPI Card Group to a "hold" rating in a research note on Monday, August 11th. Finally, DA Davidson reduced their price objective on CPI Card Group from $38.00 to $32.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

CPI Card Group Price Performance

Shares of PMTS stock traded up $0.22 during trading hours on Tuesday, reaching $15.93. 13,886 shares of the company's stock were exchanged, compared to its average volume of 47,193. The company has a market cap of $180.65 million, a P/E ratio of 14.21 and a beta of 1.46. The company's 50 day moving average is $17.00 and its two-hundred day moving average is $21.89. CPI Card Group Inc. has a 1 year low of $12.52 and a 1 year high of $35.19.

CPI Card Group (NASDAQ:PMTS - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.52). The firm had revenue of $129.75 million during 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%. As a group, analysts predict that CPI Card Group Inc. will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling at CPI Card Group

In other news, Chairman H Sanford Riley purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $15.75 per share, for a total transaction of $157,500.00. Following the acquisition, the chairman directly owned 31,033 shares in the company, valued at approximately $488,769.75. The trade was a 47.54% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is currently owned by corporate insiders.

CPI Card Group Profile

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.