Tricor Pacific Capital Purchases 1.9M Shares of CPI
CPI Card Group announced that Tricor Pacific Capital has purchased 1.9M shares of CPI common stock and Sanford Riley, chairman of the board of CPI, has purchased 0.2M shares of CPI common stock from the company's significant stockholder, Parallel49 Equity in privately negotiated transactions. Following these transactions, Parallel49's ownership position in CPI common stock has been reduced from 4.8M shares to 2.7M shares. Parallel49 originally invested in CPI in 2007 and retained ownership of nearly 60% of outstanding shares following CPI's IPO in 2015. The Tricor Family Office has been an indirect investor in CPI for nearly 20 years through an investment in the Parallel49 funds. In October 2024, the Tricor Family Office initiated a direct position in CPI common stock with a purchase of 0.25M shares in a secondary offering of CPI shares enacted by Parallel49. Following this announced transaction, the Tricor Family Office increased its direct ownership of CPI common stock to 2.2M shares, or nearly 20% of shares outstanding. Pursuant to the transactions, CPI's board of directors has approved the grant of share registration and director nomination rights to the Tricor Family Office. The Tricor Family Office and Sanford Riley have also entered into lock-up agreements with the company, restricting the sale or disposal of shares acquired in this transaction for a one-year period from the date of the agreement.
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Insider Buying Update for Monday, December 8: CRM, PMTS
Salesforce Insider Purchase: G. Mason Morfit, Director of Salesforce, purchased 96,000 shares of CRM for $25.02 million at $260.58 each, with Salesforce's stock up about 0.7% on Monday.
CPI Card Group Investment: Director H. Sanford Riley bought 200,000 shares of CPI Card Group for $2.70 million at $13.51 each, marking his fourth purchase of PMTS in the past year, with an average investment of $17.78 per share.
Riley's Profit: Following the latest purchase, Riley is currently up about 18.4% based on CPI Card Group's trading high of $16.00 on Monday.
Disclaimer: The views expressed in the report are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
CPI Card Group Shareholders Acquire 2.1 Million Shares in Strategic Moves
- Shareholder Acquisition: Tricor Pacific Capital Inc. purchased 1.9 million shares of CPI common stock in private transactions, increasing its direct ownership to approximately 20%, which reflects strong confidence in the company's growth potential.
- Management Investment: CPI's Chairman H. Sanford Riley also acquired 200,000 shares, demonstrating management's solid support for the company's strategy and enhancing market confidence in CPI's future.
- Ownership Structure Change: Parallel49 Equity's stake decreased from 4.8 million shares (about 42%) to 2.7 million shares (approximately 24%), which will help optimize CPI's long-term shareholder structure and improve governance transparency.
- Lock-Up Agreement: Tricor and Riley entered into a one-year lock-up agreement with CPI, restricting the sale of newly acquired shares, which ensures long-term commitment from shareholders and helps stabilize the company's stock price while boosting investor confidence.
CPI and Nymbus Unveil Effortless Integration for Instant Card Issuance
New Partnership Announcement: CPI Card Group has partnered with Nymbus to integrate its Card@Once® instant issuance solution with the Nymbus Core Platform, enabling financial institutions to quickly print and activate payment cards in-branch.
Enhanced Customer Experience: The integration streamlines the card issuance process, reducing wait times and allowing customers to leave with a fully functional debit card within minutes, thus improving overall service efficiency.
Investment in Technology: CPI is focusing on a unified payments issuance strategy by investing in scalable, API-driven platforms that enhance both digital and physical card solutions for fintechs and financial institutions.
Positive Feedback from Clients: Financial institutions like PeoplesBank have reported excellent experiences with the integration, highlighting the ease of use and time-saving benefits for both staff and customers.
DA Davidson Reaffirms Buy Rating on CPI Card, Reduces Price Target to $30
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters for its users.
Community Engagement: Over 10,000 serious traders are part of the Benzinga Pro community, enhancing their trading strategies.
Market Winning Tools: Benzinga Pro is designed to help traders win in the markets every day with accurate stock market intelligence.
CPI Card Group Inc. Sees Increase in Q3 Profits
Third Quarter Profit Increase: CPI Card Group Inc. reported a profit of $2.30 million, or $0.19 per share, for the third quarter, up from $1.29 million, or $0.11 per share, in the previous year.
Revenue Growth: The company's revenue rose by 10.6% to $137.96 million, compared to $124.75 million in the same quarter last year.
CPI Card Group Collaborates with Karta to Provide Innovative Digital Security for Prepaid Cards
Partnership Announcement: CPI Card Group has formed a strategic partnership with Karta, an Australian prepaid program manager, to enhance prepaid card security through Karta's SafeToBuy technology integrated with CPI's U.S. prepaid solutions.
Fraud Prevention Technology: The SafeToBuy technology eliminates printed card numbers on gift card packaging, embedding security features in an EMV chip to reduce the risk of fraud and improve the overall payment experience for customers.
Innovative Payment Solutions: The collaboration allows CPI to produce contactless gift cards that can be validated via mobile devices, enabling a seamless connection between physical cards and digital wallets while ensuring payment data remains secure until card activation.
Future Expansion Plans: The partnership aims to adapt Karta's prepaid program management platform for a U.S. launch in early 2026, with ongoing pilot programs to enhance security and reliability in card programs across various sectors.
Insider Buying Update for Monday, December 8: CRM, PMTS
Salesforce Insider Purchase: G. Mason Morfit, Director of Salesforce, purchased 96,000 shares of CRM for $25.02 million at $260.58 each, with Salesforce's stock up about 0.7% on Monday.
CPI Card Group Investment: Director H. Sanford Riley bought 200,000 shares of CPI Card Group for $2.70 million at $13.51 each, marking his fourth purchase of PMTS in the past year, with an average investment of $17.78 per share.
Riley's Profit: Following the latest purchase, Riley is currently up about 18.4% based on CPI Card Group's trading high of $16.00 on Monday.
Disclaimer: The views expressed in the report are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
CPI Card Group Shareholders Acquire 2.1 Million Shares in Strategic Moves
- Shareholder Acquisition: Tricor Pacific Capital Inc. purchased 1.9 million shares of CPI common stock in private transactions, increasing its direct ownership to approximately 20%, which reflects strong confidence in the company's growth potential.
- Management Investment: CPI's Chairman H. Sanford Riley also acquired 200,000 shares, demonstrating management's solid support for the company's strategy and enhancing market confidence in CPI's future.
- Ownership Structure Change: Parallel49 Equity's stake decreased from 4.8 million shares (about 42%) to 2.7 million shares (approximately 24%), which will help optimize CPI's long-term shareholder structure and improve governance transparency.
- Lock-Up Agreement: Tricor and Riley entered into a one-year lock-up agreement with CPI, restricting the sale of newly acquired shares, which ensures long-term commitment from shareholders and helps stabilize the company's stock price while boosting investor confidence.
CPI and Nymbus Unveil Effortless Integration for Instant Card Issuance
New Partnership Announcement: CPI Card Group has partnered with Nymbus to integrate its Card@Once® instant issuance solution with the Nymbus Core Platform, enabling financial institutions to quickly print and activate payment cards in-branch.
Enhanced Customer Experience: The integration streamlines the card issuance process, reducing wait times and allowing customers to leave with a fully functional debit card within minutes, thus improving overall service efficiency.
Investment in Technology: CPI is focusing on a unified payments issuance strategy by investing in scalable, API-driven platforms that enhance both digital and physical card solutions for fintechs and financial institutions.
Positive Feedback from Clients: Financial institutions like PeoplesBank have reported excellent experiences with the integration, highlighting the ease of use and time-saving benefits for both staff and customers.
DA Davidson Reaffirms Buy Rating on CPI Card, Reduces Price Target to $30
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders to stay updated on market movements.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters for its users.
Community Engagement: Over 10,000 serious traders are part of the Benzinga Pro community, enhancing their trading strategies.
Market Winning Tools: Benzinga Pro is designed to help traders win in the markets every day with accurate stock market intelligence.
CPI Card Group Inc. Sees Increase in Q3 Profits
Third Quarter Profit Increase: CPI Card Group Inc. reported a profit of $2.30 million, or $0.19 per share, for the third quarter, up from $1.29 million, or $0.11 per share, in the previous year.
Revenue Growth: The company's revenue rose by 10.6% to $137.96 million, compared to $124.75 million in the same quarter last year.
CPI Card Group Collaborates with Karta to Provide Innovative Digital Security for Prepaid Cards
Partnership Announcement: CPI Card Group has formed a strategic partnership with Karta, an Australian prepaid program manager, to enhance prepaid card security through Karta's SafeToBuy technology integrated with CPI's U.S. prepaid solutions.
Fraud Prevention Technology: The SafeToBuy technology eliminates printed card numbers on gift card packaging, embedding security features in an EMV chip to reduce the risk of fraud and improve the overall payment experience for customers.
Innovative Payment Solutions: The collaboration allows CPI to produce contactless gift cards that can be validated via mobile devices, enabling a seamless connection between physical cards and digital wallets while ensuring payment data remains secure until card activation.
Future Expansion Plans: The partnership aims to adapt Karta's prepaid program management platform for a U.S. launch in early 2026, with ongoing pilot programs to enhance security and reliability in card programs across various sectors.
