Short Interest in CPI Card Group Inc. (NASDAQ:PMTS) Drops By 29.2%

CPI Card Group Inc. (NASDAQ:PMTS) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 71,600 shares, a decline of 29.2% from the January 15th total of 101,200 shares. Based on an average trading volume of 37,200 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. DA Davidson assumed coverage on CPI Card Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $36.00 price objective on the stock. Lake Street Capital lifted their price objective on CPI Card Group from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $37.67.

CPI Card Group Trading Down 0.3 %

Shares of NASDAQ PMTS traded down $0.10 during trading hours on Friday, hitting $29.08. 10,305 shares of the company traded hands, compared to its average volume of 29,990. The stock has a market capitalization of $324.53 million, a price-to-earnings ratio of 22.20 and a beta of 1.43. The company’s 50 day moving average price is $30.77 and its 200 day moving average price is $28.03. CPI Card Group has a 12 month low of $15.00 and a 12 month high of $35.19.

Insiders Place Their Bets

In other news, Director H Sanford Riley acquired 2,000 shares of CPI Card Group stock in a transaction on Monday, December 2nd. The shares were acquired at an average price of $32.51 per share, with a total value of $65,020.00. Following the purchase, the director now directly owns 9,500 shares in the company, valued at $308,845. The trade was a 26.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On CPI Card Group

Several large investors have recently modified their holdings of the stock. Barclays PLC increased its position in shares of CPI Card Group by 5.2% during the 4th quarter. Barclays PLC now owns 7,712 shares of the company’s stock valued at $230,000 after purchasing an additional 382 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in CPI Card Group by 44.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,503 shares of the company’s stock valued at $75,000 after acquiring an additional 776 shares during the period. IFP Advisors Inc boosted its holdings in CPI Card Group by 96.6% during the 4th quarter. IFP Advisors Inc now owns 3,048 shares of the company’s stock valued at $91,000 after acquiring an additional 1,498 shares during the period. Russell Investments Group Ltd. boosted its holdings in CPI Card Group by 1,635.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,649 shares of the company’s stock valued at $49,000 after acquiring an additional 1,554 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in CPI Card Group by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 2,939 shares of the company’s stock valued at $82,000 after acquiring an additional 1,656 shares during the period. Institutional investors own 22.08% of the company’s stock.

CPI Card Group Company Profile

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.