CPI Card Group (NASDAQ:PMTS) Major Shareholder Sells $54,914,226.03 in Stock

CPI Card Group Inc. (NASDAQ:PMTS) major shareholder Equity Ulc Parallel49 sold 2,687,921 shares of CPI Card Group stock in a transaction on Monday, September 14th. The shares were sold at an average price of $20.43, for a total transaction of $54,914,226.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

CPI Card Group Stock Up 7.8%

PMTS stock traded up $1.76 during trading on Monday, hitting $24.26. The company had a trading volume of 612,736 shares, compared to its average volume of 162,742. The firm has a 50-day moving average price of $24.52 and a 200-day moving average price of $19.43. The firm has a market cap of $279.72 million, a PE ratio of 21.10 and a beta of 0.97. CPI Card Group Inc. has a 1-year low of $10.81 and a 1-year high of $31.25.

Key Headlines Impacting CPI Card Group

Here are the key news stories impacting CPI Card Group this week:

• Positive Sentiment: Company insiders made approximately $671,500 in combined purchases at $21.50 per share. Chairman H. Riley, directors Nicholas Peters and Ravi Mallela, and director Marc Sheinbaum all increased their holdings, signaling confidence in CPI Card Group’s valuation and prospects. Insider purchase filing
• Neutral Sentiment: CPI Card Group completed a secondary public share offering involving existing stockholders. Because the shares were sold by current holders rather than issued by the company, the transaction does not directly raise capital for CPI Card Group, but it can increase the public float and improve trading liquidity. Secondary share offering announcement
• Negative Sentiment: Major shareholder Equity Ulc Parallel49 sold 2.69 million PMTS shares for approximately $54.9 million at an average price of $20.43. The sizable disposition may create an overhang or raise concerns about a large investor reducing its exposure, although it also expands the stock’s available float. Parallel49 SEC filing

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PMTS shares. DA Davidson upped their price target on CPI Card Group from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of CPI Card Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Roth Capital restated a “buy” rating and issued a $32.00 target price on shares of CPI Card Group in a research note on Tuesday, August 11th. Zacks Research lowered shares of CPI Card Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Weiss Ratings raised shares of CPI Card Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.25.

Institutional Investors Weigh In On CPI Card Group

A number of 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% in 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 last quarter. California State Teachers Retirement System boosted its stake in shares of 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 worth $47,000 after purchasing an additional 1,856 shares during the last quarter. Ancora Advisors LLC acquired a new stake in shares of CPI Card Group during the 2nd quarter worth about $41,000. Lazard Asset Management LLC purchased a new stake in shares of CPI Card Group during the first quarter worth about $157,000. Finally, Potomac Capital Management Inc. purchased a new stake in shares of CPI Card Group during the fourth quarter worth about $337,000. 22.08% of the stock is currently owned by institutional investors and hedge funds.

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.