Nuveen LLC Makes New Investment in CPI Card Group Inc. $PMTS

Key Points

• Nuveen LLC has made a new investment of approximately $1.69 million in CPI Card Group Inc., acquiring 57,778 shares and increasing its ownership to 0.51% of the company.
• In institutional investor activity, several firms such as Ancora Advisors, Citadel Advisors, and Millennium Management have recently increased their stakes or purchased new shares in CPI Card Group during the fourth quarter, contributing to a overall institutional ownership of 22.08%.
• CPI Card Group's stock missed earnings expectations* in its last report, posting only $0.04 EPS against a consensus estimate of $0.56, along with a revenue of $129.75 million which fell short of the anticipated $132.96 million.

Nuveen LLC purchased a new stake in CPI Card Group Inc. (NASDAQ:PMTS - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 57,778 shares of the company's stock, valued at approximately $1,685,000. Nuveen LLC owned about 0.51% of CPI Card Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rhumbline Advisers grew its holdings in CPI Card Group by 7.3% during the 1st quarter. Rhumbline Advisers now owns 6,948 shares of the company's stock worth $203,000 after acquiring an additional 474 shares during the period. Citadel Advisors LLC grew its holdings in shares of CPI Card Group by 317.4% during the fourth quarter. Citadel Advisors LLC now owns 34,540 shares of the company's stock worth $1,032,000 after buying an additional 26,264 shares in the last quarter. Deutsche Bank AG lifted its position in shares of CPI Card Group by 4,014.4% in the fourth quarter. Deutsche Bank AG now owns 4,279 shares of the company's stock worth $128,000 after purchasing an additional 4,175 shares in the last quarter. Bank of America Corp DE lifted its position in CPI Card Group by 154.1% during the 4th quarter. Bank of America Corp DE now owns 8,378 shares of the company's stock worth $250,000 after buying an additional 5,081 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in CPI Card Group by 10.7% during the fourth quarter. BNP Paribas Financial Markets now owns 5,844 shares of the company's stock valued at $175,000 after purchasing an additional 563 shares during the last quarter. Institutional investors and hedge funds own 22.08% of the company's stock.

Insider Activity at CPI Card Group

In other news, Chairman H Sanford Riley acquired 10,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average price of $15.75 per share, for a total transaction of $157,500.00. Following the completion of the transaction, the chairman owned 31,033 shares of the company's stock, valued at $488,769.75. The trade was a 47.54% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.80% of the company's stock.

CPI Card Group Trading Down 3.6%

Shares of PMTS stock traded down $0.55 during trading hours on Wednesday, hitting $14.68. 10,313 shares of the company were exchanged, compared to its average volume of 47,360. The stock has a market capitalization of $166.41 million, a price-to-earnings ratio of 13.11 and a beta of 1.46. The firm has a fifty day simple moving average of $19.41 and a 200 day simple moving average of $23.49. CPI Card Group Inc. has a 52-week low of $12.52 and a 52-week high of $35.19.

CPI Card Group (NASDAQ:PMTS - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.52). The company had revenue of $129.75 million for the quarter, compared to the consensus estimate of $132.96 million. CPI Card Group had a net margin of 2.66% and a negative return on equity of 58.00%. Sell-side analysts anticipate that CPI Card Group Inc. will post 1.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PMTS. Wall Street Zen cut 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 shares of CPI Card Group from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. DA Davidson decreased their target price 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. Finally, Zacks Research upgraded CPI Card Group to a "hold" rating in a report on Monday, August 11th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

About CPI Card Group

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.