CPI Card Group (PMTS) Sees Large Volume Increase

CPI Card Group Inc. (NASDAQ:PMTS) (TSE:PNT) shares saw unusually-high trading volume on Friday . Approximately 2,260,200 shares traded hands during trading, an increase of 556% from the previous session’s volume of 344,434 shares.The stock last traded at $0.90 and had previously closed at $0.80.

Separately, BMO Capital Markets lowered their target price on shares of CPI Card Group from $2.20 to $1.30 and set a “market perform” rating on the stock in a research report on Thursday, November 9th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. CPI Card Group currently has a consensus rating of “Hold” and a consensus price target of $1.30.

The company has a debt-to-equity ratio of -2.87, a current ratio of 2.68 and a quick ratio of 2.09.

CPI Card Group (NASDAQ:PMTS) (TSE:PNT) last released its quarterly earnings results on Tuesday, November 7th. The credit services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $68.00 million during the quarter, compared to analyst estimates of $74.73 million. CPI Card Group had a negative net margin of 4.44% and a negative return on equity of 1.51%. The firm’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 earnings per share. sell-side analysts forecast that CPI Card Group Inc. will post -0.08 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC grew its position in shares of CPI Card Group by 21.3% in the second quarter. Teachers Advisors LLC now owns 43,683 shares of the credit services provider’s stock valued at $124,000 after purchasing an additional 7,658 shares during the last quarter. QS Investors LLC grew its position in shares of CPI Card Group by 40.2% in the second quarter. QS Investors LLC now owns 53,178 shares of the credit services provider’s stock valued at $152,000 after purchasing an additional 15,260 shares during the last quarter. CIBC World Markets Inc. grew its position in shares of CPI Card Group by 28.9% in the second quarter. CIBC World Markets Inc. now owns 135,875 shares of the credit services provider’s stock valued at $387,000 after purchasing an additional 30,450 shares during the last quarter. Federated Investors Inc. PA lifted its stake in shares of CPI Card Group by 8.6% during the second quarter. Federated Investors Inc. PA now owns 426,371 shares of the credit services provider’s stock valued at $1,215,000 after buying an additional 33,600 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of CPI Card Group during the second quarter valued at approximately $109,000. Institutional investors and hedge funds own 11.51% of the company’s stock.

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About CPI Card Group

CPI Card Group Inc, formerly CPI Holdings I, Inc, provides Financial Payment Card solutions in North America. The Company is engaged in the design, production, data personalization, packaging and fulfillment of Financial Payment Cards, which it defines as credit cards, debit cards and prepaid debit cards issued on the networks of the Payment Card Brands in the United States, Europe and Canada.

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