CompoSecure (NASDAQ:CMPO) Shares Gap Up Following Insider Buying Activity

Shares of CompoSecure, Inc. (NASDAQ:CMPO) gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $10.88, but opened at $11.58. CompoSecure shares last traded at $11.33, with a volume of 91,410 shares.

Specifically, Director Joseph J. Deangelo purchased 45,045 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were purchased at an average cost of $11.12 per share, with a total value of $500,900.40. Following the transaction, the director now directly owns 45,045 shares in the company, valued at $500,900.40. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

A number of brokerages have recently commented on CMPO. TD Cowen began coverage on CompoSecure in a research report on Wednesday, December 18th. They issued a “buy” rating and a $20.00 price target on the stock. Lake Street Capital decreased their price objective on shares of CompoSecure from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Needham & Company LLC decreased their price objective on shares of CompoSecure from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CompoSecure from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.19.

CompoSecure Trading Up 4.6 %

The company has a market capitalization of $1.16 billion, a PE ratio of -25.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.77. The business’s fifty day moving average is $14.30 and its two-hundred day moving average is $14.54.

Institutional Investors Weigh In On CompoSecure

Hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC purchased a new stake in CompoSecure during the 3rd quarter valued at $798,000. Geode Capital Management LLC raised its stake in CompoSecure by 34.1% during the 3rd quarter. Geode Capital Management LLC now owns 585,746 shares of the company’s stock valued at $8,214,000 after buying an additional 148,833 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in CompoSecure during the 4th quarter valued at $526,000. JPMorgan Chase & Co. raised its stake in CompoSecure by 555.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 51,949 shares of the company’s stock valued at $728,000 after buying an additional 44,018 shares during the last quarter. Finally, Truist Financial Corp raised its stake in CompoSecure by 286.9% during the 4th quarter. Truist Financial Corp now owns 48,368 shares of the company’s stock valued at $741,000 after buying an additional 35,868 shares during the last quarter. 37.56% of the stock is currently owned by hedge funds and other institutional investors.

CompoSecure Company Profile

CompoSecure, Inc manufactures and designs metal, composite, and proprietary financial transaction cards in the United States and internationally. Its primary metal form factors include embedded, metal veneer lite, metal veneer, and full metal products. The company also offers Arculus Cold Storage Wallet, a three-factor authentication solution, which supports specific digital assets, including Bitcoin, Ethereum, non-fungible tokens and others.