Goldman Sachs Group Inc. Reduces Stock Position in CPI Card Group Inc. $PMTS

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

Other large investors have also bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of CPI Card Group by 7.3% during the 1st quarter. Rhumbline Advisers now owns 6,948 shares of the company's stock valued at $203,000 after buying an additional 474 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in CPI Card Group by 10.7% during the 4th quarter. BNP Paribas Financial Markets now owns 5,844 shares of the company's stock valued at $175,000 after acquiring an additional 563 shares during the period. Bank of New York Mellon Corp lifted its position in shares of CPI Card Group by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 28,330 shares of the company's stock worth $826,000 after acquiring an additional 746 shares in the last quarter. US Bancorp DE bought a new position in shares of CPI Card Group in the first quarter worth $33,000. Finally, Russell Investments Group Ltd. grew its position in shares of CPI Card Group by 130.4% in the first quarter. Russell Investments Group Ltd. now owns 3,800 shares of the company's stock valued at $111,000 after purchasing an additional 2,151 shares in the last quarter. 22.08% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CPI Card Group

In other news, Chairman H Sanford Riley bought 10,000 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $15.75 per share, with a total value of $157,500.00. Following the completion of the purchase, the chairman directly owned 31,033 shares in the company, valued at $488,769.75. This represents a 47.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PMTS shares. Zacks Research raised CPI Card Group to a "hold" rating in a report on Monday, August 11th. Wall Street Zen downgraded shares of CPI Card Group from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. DA Davidson reduced their price objective on shares of 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. Finally, Lake Street Capital decreased their target price on shares of CPI Card Group from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, CPI Card Group presently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

CPI Card Group Stock Up 0.6%

Shares of NASDAQ PMTS traded up $0.09 during mid-day trading on Monday, reaching $15.71. 27,718 shares of the company were exchanged, compared to its average volume of 47,383. CPI Card Group Inc. has a 52 week low of $12.52 and a 52 week high of $35.19. The company's 50 day moving average price is $17.13 and its 200 day moving average price is $21.98. The stock has a market capitalization of $178.15 million, a PE ratio of 14.03 and a beta of 1.46.

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). CPI Card Group had a net margin of 2.66% and a negative return on equity of 58.00%. The firm had revenue of $129.75 million for the quarter, compared to analysts' expectations of $132.96 million. On average, sell-side analysts predict that CPI Card Group Inc. will post 1.63 earnings per share for the current year.

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.