Pacific Ridge Capital Partners LLC Grows Stake in CPI Card Group Inc. $PMTS

by · The Markets Daily

Pacific Ridge Capital Partners LLC grew its stake in shares of CPI Card Group Inc. (NASDAQ:PMTS – Free Report) by 75.0% in the third quarter, Holdings Channel reports. The fund owned 391,325 shares of the company’s stock after acquiring an additional 167,764 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in CPI Card Group were worth $5,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC grew its holdings in CPI Card Group by 100.4% during the second quarter. Lazard Asset Management LLC now owns 2,928 shares of the company’s stock valued at $69,000 after purchasing an additional 1,467 shares during the period. Jane Street Group LLC purchased a new position in shares of CPI Card Group during the 1st quarter valued at $223,000. Corton Capital Inc. bought a new position in shares of CPI Card Group during the 2nd quarter worth $232,000. Acadian Asset Management LLC purchased a new stake in CPI Card Group in the 1st quarter worth about $248,000. Finally, State of Tennessee Department of Treasury purchased a new stake in CPI Card Group in the 2nd quarter worth about $255,000. Institutional investors own 22.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of CPI Card Group in a research report on Wednesday, January 21st. DA Davidson reissued a “buy” rating and issued a $30.00 price target on shares of CPI Card Group in a research report on Wednesday, February 18th. B. Riley Financial dropped their price objective on CPI Card Group from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Zacks Research upgraded shares of CPI Card Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Roth Mkm set a $30.00 price target on CPI Card Group in a research report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.25.

View Our Latest Research Report on PMTS

CPI Card Group Trading Up 1.9%

NASDAQ PMTS opened at $12.78 on Thursday. The firm has a market cap of $145.56 million, a PE ratio of 10.65 and a beta of 1.29. CPI Card Group Inc. has a 1-year low of $10.81 and a 1-year high of $34.25. The stock has a 50-day moving average of $13.49 and a 200-day moving average of $14.54.

Insider Activity at CPI Card Group

In related news, Chairman H Sanford Riley acquired 200,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was purchased at an average price of $13.51 per share, with a total value of $2,702,000.00. Following the completion of the purchase, the chairman owned 252,366 shares in the company, valued at $3,409,464.66. This trade represents a 381.93% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Equity Ulc Parallel49 sold 2,126,056 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $13.51, for a total transaction of $28,723,016.56. Following the completion of the transaction, the insider owned 2,687,921 shares in the company, valued at $36,313,812.71. This represents a 44.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

CPI Card Group Company Profile

(Free Report)

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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