Arrowstreet Capital Limited Partnership Grows Stock Position in CPI Card Group Inc. (NASDAQ:PMTS)

Arrowstreet Capital Limited Partnership raised its stake in CPI Card Group Inc. (NASDAQ:PMTS) by 92.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 68,220 shares of the company’s stock after purchasing an additional 32,784 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in CPI Card Group were worth $2,039,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PMTS. Pacific Ridge Capital Partners LLC acquired a new stake in CPI Card Group in the 4th quarter valued at about $4,401,000. Hillsdale Investment Management Inc. purchased a new stake in CPI Card Group in the 4th quarter valued at $3,240,000. Kornitzer Capital Management Inc. KS acquired a new stake in shares of CPI Card Group during the fourth quarter worth about $1,046,000. JPMorgan Chase & Co. lifted its position in CPI Card Group by 703.0% during the 4th quarter. JPMorgan Chase & Co. now owns 18,188 shares of the company’s stock worth $544,000 after acquiring an additional 15,923 shares during the period. Finally, Pembroke Management LTD lifted its holdings in shares of CPI Card Group by 44.5% during the fourth quarter. Pembroke Management LTD now owns 38,481 shares of the company’s stock worth $1,150,000 after purchasing an additional 11,854 shares during the period. 22.08% of the stock is currently owned by institutional investors and hedge funds.

CPI Card Group Price Performance

NASDAQ:PMTS opened at $23.53 on Friday. CPI Card Group Inc. has a 1-year low of $16.08 and a 1-year high of $35.19. The firm has a 50-day moving average of $28.77 and a two-hundred day moving average of $28.55. The stock has a market cap of $264.50 million, a P/E ratio of 17.96 and a beta of 1.44.

Wall Street Analyst Weigh In

Several analysts have recently commented on PMTS shares. B. Riley raised their price target on CPI Card Group from $33.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. DA Davidson upped their price target on shares of CPI Card Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $40.00 price objective on shares of CPI Card Group in a research note on Wednesday, March 5th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $37.25.

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.