Jacobs Levy Equity Management Inc. Decreases Stock Holdings in CPI Card Group Inc. $PMTS

Jacobs Levy Equity Management Inc. trimmed its stake in shares of CPI Card Group Inc. (NASDAQ:PMTS) by 15.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,531 shares of the company’s stock after selling 7,742 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in CPI Card Group were worth $1,270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PMTS. US Bancorp DE purchased a new position in shares of CPI Card Group during the first quarter valued at approximately $33,000. Virtus Investment Advisers Inc. purchased a new position in shares of CPI Card Group during the fourth quarter valued at approximately $84,000. Virtus Advisers LLC purchased a new position in shares of CPI Card Group during the first quarter valued at approximately $101,000. Russell Investments Group Ltd. raised its holdings in shares of CPI Card Group by 130.4% during the first quarter. Russell Investments Group Ltd. now owns 3,800 shares of the company’s stock valued at $111,000 after purchasing an additional 2,151 shares during the last quarter. Finally, Deutsche Bank AG grew its position in CPI Card Group by 4,014.4% during the fourth quarter. Deutsche Bank AG now owns 4,279 shares of the company’s stock valued at $128,000 after buying an additional 4,175 shares during the period. 22.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PMTS has been the subject of several recent research reports. Zacks Research upgraded shares of CPI Card Group to a “hold” rating in a research report on Monday, August 11th. DA Davidson cut their target price on shares of CPI Card Group from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Lake Street Capital cut their target price on shares of CPI Card Group from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Finally, Wall Street Zen lowered shares of CPI Card Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, CPI Card Group currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Buying and Selling at CPI Card Group

In other news, Chairman H Sanford Riley purchased 10,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $15.75 per share, for a total transaction of $157,500.00. Following the completion of the transaction, the chairman directly owned 31,033 shares in the company, valued at $488,769.75. This trade represents a 47.54% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.80% of the stock is currently owned by insiders.

CPI Card Group Price Performance

PMTS opened at $15.19 on Friday. The firm has a market cap of $172.25 million, a P/E ratio of 13.56 and a beta of 1.46. CPI Card Group Inc. has a 1-year low of $12.52 and a 1-year high of $35.19. The company has a 50 day simple moving average of $18.11 and a two-hundred day simple moving average of $22.77.

CPI Card Group (NASDAQ:PMTS) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.52). The firm had revenue of $129.75 million during the quarter, compared to the consensus estimate of $132.96 million. CPI Card Group had a negative return on equity of 58.00% and a net margin of 2.66%. Equities analysts anticipate that CPI Card Group Inc. will post 1.63 earnings per share for the current year.

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.