Insider Buying: CPI Card Group (NASDAQ:PMTS) Chairman Acquires $299,989.50 in Stock

Key Points

• CPI Card Group Chairman H. Riley purchased 13,953 shares at $21.50 each, investing approximately $299,990 and increasing his direct ownership by 5.3% to 277,232 shares.
• PMTS shares rose 7.8% to $24.26 during Monday trading, with volume substantially above average. The stock has traded between $10.81 and $31.25 over the past year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $30.25; institutional investors own 22.08% of the company.

CPI Card Group Inc. (NASDAQ:PMTS - Get Free Report) Chairman H. Riley acquired 13,953 shares of the stock in a transaction dated Monday, September 14th. The stock was acquired at an average price of $21.50 per share, for a total transaction of $299,989.50. Following the purchase, the chairman directly owned 277,232 shares in the company, valued at approximately $5,960,488. This trade represents a 5.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

CPI Card Group Stock Up 7.8%

NASDAQ:PMTS traded up $1.76 during mid-day trading on Monday, hitting $24.26. 612,736 shares of the company traded hands, compared to its average volume of 162,742. CPI Card Group Inc. has a one year low of $10.81 and a one year high of $31.25. The firm has a market cap of $279.72 million, a price-to-earnings ratio of 10.77 and a beta of 0.97. The stock's fifty day moving average price is $24.44 and its 200-day moving average price is $19.35.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PMTS shares. Roth Capital reiterated a "buy" rating and issued a $32.00 price target on shares of CPI Card Group in a report on Tuesday, August 11th. B. Riley Financial reissued a "buy" rating on shares of CPI Card Group in a research note on Friday, August 7th. Zacks Research cut CPI Card Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. DA Davidson upped their price objective on CPI Card Group from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded CPI Card Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 25th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.25.

Institutional Investors Weigh In On CPI Card Group

Several institutional investors have recently modified their holdings of PMTS. California State Teachers Retirement System raised its holdings in CPI Card Group by 453.8% during the 2nd quarter. California State Teachers Retirement System now owns 2,265 shares of the company's stock valued at $47,000 after buying an additional 1,856 shares during the period. Ancora Advisors LLC bought a new position in shares of CPI Card Group during the second quarter valued at approximately $41,000. Bank of New York Mellon Corp purchased a new stake in CPI Card Group in the second quarter worth $910,000. Lazard Asset Management LLC purchased a new position in CPI Card Group in the 1st quarter worth about $157,000. Finally, Walleye Capital LLC bought a new stake in shares of CPI Card Group during the first quarter valued at approximately $358,000. 22.08% of the stock is owned by institutional investors.

About CPI Card Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.