CPI Card Group (NASDAQ:PMTS) Director Ravi Mallela Acquires 1,000 Shares

Key Points

• Director insider purchase: Ravi Mallela bought 1,000 CPI Card Group shares at $21.50 each, investing $21,500 and increasing his stake by 8.72% to 12,471 shares.
• Stock performance: PMTS traded at $24.26, with a market capitalization of approximately $279.7 million. Its 12-month trading range is $10.81 to $31.25.
• Analyst outlook: CPI Card Group has a “Moderate Buy” consensus rating from analysts, with an average price target of $30.25; four analysts rate it Buy and two rate it Hold.

CPI Card Group Inc. (NASDAQ:PMTS - Get Free Report) Director Ravi Mallela bought 1,000 shares of the company's stock in a transaction dated Monday, September 14th. The stock was bought at an average cost of $21.50 per share, with a total value of $21,500.00. Following the completion of the transaction, the director owned 12,471 shares in the company, valued at approximately $268,126.50. This trade represents a 8.72% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

CPI Card Group Stock Performance

Shares of PMTS traded up $1.76 on Monday, reaching $24.26. The stock had a trading volume of 612,736 shares, compared to its average volume of 162,742. CPI Card Group Inc. has a 12-month low of $10.81 and a 12-month high of $31.25. The firm has a market capitalization of $279.72 million, a price-to-earnings ratio of 21.10 and a beta of 0.97. The company has a 50-day simple moving average of $24.44 and a 200-day simple moving average of $19.35.

Analysts Set New Price Targets

A number of brokerages have recently commented on PMTS. Zacks Research cut shares of CPI Card Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Wall Street Zen raised shares of CPI Card Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 25th. Roth Capital reiterated a "buy" rating and set a $32.00 target price on shares of CPI Card Group in a report on Tuesday, August 11th. Weiss Ratings raised CPI Card Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Finally, DA Davidson raised their price target on CPI Card Group from $30.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, CPI Card Group presently has an average rating of "Moderate Buy" and an average target price of $30.25.

Institutional Investors Weigh In On CPI Card Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its stake in CPI Card Group by 10.1% during the 1st 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. California State Teachers Retirement System boosted its stake in CPI Card Group by 453.8% during the second quarter. California State Teachers Retirement System now owns 2,265 shares of the company's stock worth $47,000 after buying an additional 1,856 shares during the period. Ancora Advisors LLC bought a new position in CPI Card Group during the second quarter valued at $41,000. Lazard Asset Management LLC purchased a new stake in shares of CPI Card Group in the first quarter valued at $157,000. Finally, Potomac Capital Management Inc. bought a new stake in shares of CPI Card Group in the 4th quarter worth about $337,000. 22.08% of the stock is currently owned by hedge funds and other institutional investors.

CPI Card Group Company Profile

CPI Card Group, Inc NASDAQ: PMTS is a leading provider of payment, identification and related credential solutions for financial institutions, governments and private enterprises. The company specializes in the design, manufacturing and personalization of secure plastic and metal cards, including EMV chip, magnetic-stripe and contactless cards. CPI Card Group also offers digital credentialing services and cloud-based card management tools that enable real-time controls, mobile wallet integration, fraud monitoring and analytics.

With a focus on security and innovation, CPI Card Group integrates advanced features such as holograms, microprinting, RFID/NFC technology and laser-engraved artwork into its card products.

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