Millennium Management LLC lifted its holdings in CPI Card Group Inc. (NASDAQ:PMTS - Free Report) by 127.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,412 shares of the company's stock after purchasing an additional 25,971 shares during the period. Millennium Management LLC owned approximately 0.42% of CPI Card Group worth $1,387,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Vector Capital Management L.P. grew its holdings in shares of CPI Card Group by 38.4% in the fourth quarter. Vector Capital Management L.P. now owns 360,318 shares of the company's stock valued at $10,770,000 after purchasing an additional 100,000 shares in the last quarter. Wasatch Advisors LP acquired a new position in shares of CPI Card Group in the fourth quarter valued at approximately $10,175,000. Pacific Ridge Capital Partners LLC acquired a new position in shares of CPI Card Group in the fourth quarter valued at approximately $4,401,000. Geode Capital Management LLC grew its holdings in shares of CPI Card Group by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 110,582 shares of the company's stock valued at $3,306,000 after purchasing an additional 1,953 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in CPI Card Group in the fourth quarter worth approximately $3,240,000. Institutional investors and hedge funds own 22.08% of the company's stock.
CPI Card Group Price Performance
Shares of NASDAQ:PMTS traded up $0.07 during trading on Friday, hitting $21.79. 24,662 shares of the company were exchanged, compared to its average volume of 37,089. The stock has a market capitalization of $245.81 million, a P/E ratio of 16.63 and a beta of 1.36. CPI Card Group Inc. has a 12-month low of $18.46 and a 12-month high of $35.19. The firm's 50 day moving average price is $23.69 and its 200-day moving average price 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 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.16). The company had revenue of $122.76 million for the quarter, compared to analysts' expectations of $120.90 million. CPI Card Group had a negative return on equity of 46.90% and a net margin of 3.38%. As a group, equities research analysts anticipate that CPI Card Group Inc. will post 1.63 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on PMTS. Lake Street Capital decreased their price target on shares of CPI Card Group from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Roth Mkm reiterated a "buy" rating and issued a $40.00 price target on shares of CPI Card Group in a research note on Wednesday, March 5th. Wall Street Zen downgraded shares of CPI Card Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 9th. B. Riley lifted their price target on shares of CPI Card Group from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, DA Davidson lifted 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, CPI Card Group currently has a consensus rating of "Buy" and a consensus price target of $36.75.
Read Our Latest Stock Report on PMTS
Insider Activity at CPI Card Group
In other CPI Card Group news, Chairman H Sanford Riley purchased 15,000 shares of CPI Card Group stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average price of $21.51 per share, for a total transaction of $322,650.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.80% of the stock is owned by insiders.
CPI Card Group Profile
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Free Report)
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.
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