Geode Capital Management LLC Increases Stake in CPI Card Group

On January 7, 2025, it was reported that Geode Capital Management LLC has increased its investment in CPI Card Group Inc. (NASDAQ:PMTS) by acquiring an additional 2,828 shares during the third quarter of the fiscal year. Following this purchase, Geode Capital Management now holds a total of 108,629 shares of CPI Card Group, with their investment valued at approximately $3,024,000, according to their latest filing with the Securities and Exchange Commission.

Geode's activity is part of a broader trend among institutional investors that have been buying and selling shares in CPI Card Group. For instance, Vector Capital Management L.P. notably boosted its holdings by 77.7% during the preceding quarter, now possessing 248,737 shares valued at $6,778,000 after purchasing an extra 108,756 shares. Similarly, State Street Corp enhanced its position by 9.3%, owning 73,150 shares worth $2,036,000 following the acquisition of an additional 6,214 shares.

Moreover, Bank of New York Mellon Corp increased its stake in CPI Card Group by 7.6%, now holding 44,773 shares valued at $1,220,000 after acquiring 3,158 shares. Marshall Wace LLP significantly raised its shareholding by 139.0%, bringing its total to 39,273 shares worth $1,070,000 after buying 22,841 shares during the same period. Moreover, Jacobs Levy Equity Management Inc. raised its holdings by 109.0%, increasing its shares to 26,655 at a total market value of $742,000 after purchasing 13,901 shares.

Institutional investors collectively own 22.08% of CPI Card Group’s stock.

Analyst Ratings

In recent analyses, several equities analysts have shared their perspectives on CPI Card Group. For instance, Lake Street Capital revised its price target for PMTS shares from $33.00 to $37.00, maintaining a "buy" rating in their report dated December 4th. Additionally, DA Davidson commenced coverage of the company on November 22nd with a "buy" rating and a $36.00 price target. Currently, four investment analysts have categorized the stock as a buy, while one has assigned a strong buy rating. According to MarketBeat.com, CPI Card Group has an average rating of "Buy" with a target price averaging $37.67.

CPI Card Group Stock Overview

As of Tuesday, shares of CPI Card Group (PMTS) opened at $31.62. The stock has faced fluctuations, with a 52-week low recorded at $15.00 and a high at $35.19. For further insights, the 50-day simple moving average stands at $29.92 while the 200-day simple moving average is $27.77. The market cap for CPI Card Group is $352.85 million, with a price-to-earnings ratio of 24.14 and a beta value of 1.46.

Insider Buying Activities

In related news, on December 2nd, H Sanford Riley, a director at CPI Card Group, personally acquired 2,000 shares of the company stock at an average price of $32.51 per share, resulting in a total expenditure of $65,020. Post-transaction, the director’s total holdings in CPI Card Group rose to 9,500 shares, equating to a market value of $308,845, indicating a 26.67% increase in their ownership. This transaction was formally disclosed in a filing with the SEC, which is accessible for further details. Insiders currently hold 2.20% of the company's stock.

CPI Card Group Company Overview

CPI Card Group Inc. is engaged in designing, producing, and personalizing financial payment cards. Operating through distinct segments, including Debit and Credit and Prepaid Debit, the company provides integrated card services to financial institutions that issue cards. This includes design, production, data personalization, packaging, and fulfillment of payment cards.

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