1248 Management LLC Takes Position in Paysign, Inc. (NASDAQ:PAYS)

1248 Management LLC bought a new position in shares of Paysign, Inc. (NASDAQ:PAYS) in the 4th quarter, Holdings Channel.com reports. The fund bought 920,000 shares of the company’s stock, valued at approximately $2,778,000. Paysign accounts for approximately 1.2% of 1248 Management LLC’s investment portfolio, making the stock its 16th largest position.

Several other large investors also recently bought and sold shares of PAYS. PDT Partners LLC acquired a new stake in Paysign in the fourth quarter valued at $39,000. Wells Fargo & Company MN increased its holdings in shares of Paysign by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 15,385 shares of the company’s stock valued at $46,000 after acquiring an additional 5,243 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Paysign by 33.5% during the 4th quarter. SG Americas Securities LLC now owns 15,508 shares of the company’s stock worth $47,000 after acquiring an additional 3,895 shares in the last quarter. Virtu Financial LLC purchased a new stake in Paysign during the fourth quarter worth approximately $78,000. Finally, Bard Associates Inc. boosted its holdings in Paysign by 19.7% in the fourth quarter. Bard Associates Inc. now owns 33,450 shares of the company’s stock valued at $101,000 after purchasing an additional 5,497 shares in the last quarter. Hedge funds and other institutional investors own 25.89% of the company’s stock.

Insider Transactions at Paysign

In other Paysign news, CEO Mark Newcomer sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $2.73, for a total transaction of $273,000.00. Following the completion of the sale, the chief executive officer now directly owns 8,936,886 shares of the company’s stock, valued at $24,397,698.78. This represents a 1.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.40% of the company’s stock.

Paysign Trading Down 4.2 %

Shares of NASDAQ PAYS opened at $2.30 on Friday. The stock has a market cap of $123.62 million, a P/E ratio of 15.33 and a beta of 0.77. The stock has a 50 day moving average of $2.28 and a two-hundred day moving average of $2.89. Paysign, Inc. has a twelve month low of $1.80 and a twelve month high of $5.59.

Paysign (NASDAQ:PAYS) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $15.61 million during the quarter, compared to analysts’ expectations of $15.42 million. Paysign had a net margin of 14.28% and a return on equity of 30.64%. As a group, research analysts predict that Paysign, Inc. will post 0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PAYS shares. Barrington Research restated an “outperform” rating and set a $7.00 price objective on shares of Paysign in a research report on Wednesday, March 26th. DA Davidson restated a “buy” rating and issued a $6.00 price objective on shares of Paysign in a research note on Wednesday, March 26th.

Paysign Profile

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.