CPI Card Group (NASDAQ:PMTS) Director Ravi Mallela Buys 1,000 Shares

by · The Markets Daily

CPI Card Group Inc. (NASDAQ:PMTS – Get Free Report) Director Ravi Mallela bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average price of $21.50 per share, for a total transaction of $21,500.00. Following the acquisition, the director owned 12,471 shares of the company’s stock, valued at $268,126.50. This trade represents a 8.72% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CPI Card Group Trading Up 7.8%

Shares of PMTS opened at $24.26 on Tuesday. The firm’s fifty day simple moving average is $24.52 and its two-hundred day simple moving average is $19.43. CPI Card Group Inc. has a 12 month low of $10.81 and a 12 month high of $31.25. The stock has a market capitalization of $279.72 million, a P/E ratio of 21.10 and a beta of 0.97.

Key CPI Card Group News

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

Institutional Investors Weigh In On CPI Card Group

Several institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its position in CPI Card Group by 453.8% in 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 last quarter. Ancora Advisors LLC bought a new stake in shares of CPI Card Group in the 2nd quarter worth $41,000. Bank of New York Mellon Corp bought a new stake in shares of CPI Card Group in the 2nd quarter worth $910,000. Lazard Asset Management LLC purchased a new stake in shares of CPI Card Group in the first quarter valued at about $157,000. Finally, Walleye Capital LLC purchased a new stake in shares of CPI Card Group in the first quarter valued at about $358,000. Institutional investors own 22.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PMTS shares. B. Riley Financial reiterated a “buy” rating on shares of CPI Card Group in a report on Friday, August 7th. DA Davidson increased their price target on CPI Card Group from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Roth Capital reiterated a “buy” rating and issued a $32.00 price objective on shares of CPI Card Group in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of CPI Card Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Zacks Research cut shares of CPI Card Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.25.

View Our Latest Stock Report on CPI Card Group

About CPI Card Group

(Get Free Report)

CPI Card Group Inc is a payment technology company that produces and supports payment cards for financial institutions, fintech companies, government agencies and other organizations. The company’s offerings include credit, debit and prepaid cards, along with card programs designed for consumer, commercial and government payments.

Its products and services include EMV chip cards, contactless and dual-interface cards, metal cards, environmentally focused card products, card personalization and fulfillment.

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