DA Davidson Initiates Coverage on CPI Card Group (NASDAQ:PMTS)

Stock analysts at DA Davidson started coverage on shares of CPI Card Group (NASDAQ:PMTS) in a report issued on Friday, MarketBeat reports. The firm set a “buy” rating and a $36.00 price target on the stock. DA Davidson’s price objective would suggest a potential upside of 21.01% from the company’s previous close.

Separately, Lake Street Capital boosted their target price on CPI Card Group from $22.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $36.33.

CPI Card Group Price Performance

Shares of CPI Card Group stock opened at $29.75 on Friday. The firm has a 50 day simple moving average of $25.28 and a 200 day simple moving average of $26.36. CPI Card Group has a fifty-two week low of $15.00 and a fifty-two week high of $31.00. The firm has a market cap of $332.01 million, a P/E ratio of 22.71 and a beta of 1.21.

Insider Activity at CPI Card Group

In related news, major shareholder Equity Ulc Parallel49 sold 1,380,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $21.00, for a total value of $28,980,000.00. Following the completion of the sale, the insider now owns 4,813,977 shares in the company, valued at approximately $101,093,517. This represents a 22.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sonya Vollmer sold 3,660 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.10, for a total value of $91,866.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of CPI Card Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in CPI Card Group by 3.1% during the first quarter. Vanguard Group Inc. now owns 340,945 shares of the company’s stock valued at $6,089,000 after purchasing an additional 10,265 shares during the period. Vector Capital Management L.P. boosted its position in shares of CPI Card Group by 77.7% during the second quarter. Vector Capital Management L.P. now owns 248,737 shares of the company’s stock worth $6,778,000 after purchasing an additional 108,756 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CPI Card Group by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 108,629 shares of the company’s stock valued at $3,024,000 after buying an additional 2,828 shares during the period. State Street Corp increased its position in shares of CPI Card Group by 9.3% in the 3rd quarter. State Street Corp now owns 73,150 shares of the company’s stock valued at $2,036,000 after buying an additional 6,214 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in CPI Card Group by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 44,773 shares of the company’s stock worth $1,220,000 after buying an additional 3,158 shares during the period. 22.08% of the stock is owned by institutional investors.

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.