Quantedge Capital Pte Ltd Buys 84,000 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Quantedge Capital Pte Ltd grew its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 58.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 227,300 shares of the company’s stock after acquiring an additional 84,000 shares during the period. Quantedge Capital Pte Ltd owned about 0.06% of Payoneer Global worth $2,282,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAYO. Occudo Quantitative Strategies LP lifted its stake in shares of Payoneer Global by 55.1% during the 4th quarter. Occudo Quantitative Strategies LP now owns 50,391 shares of the company’s stock valued at $506,000 after buying an additional 17,901 shares in the last quarter. Millennium Management LLC lifted its stake in Payoneer Global by 0.3% in the 4th quarter. Millennium Management LLC now owns 6,523,595 shares of the company’s stock worth $65,497,000 after purchasing an additional 21,149 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Payoneer Global by 5.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 445,474 shares of the company’s stock worth $4,473,000 after purchasing an additional 22,668 shares in the last quarter. Graham Capital Management L.P. lifted its stake in Payoneer Global by 92.6% in the 4th quarter. Graham Capital Management L.P. now owns 51,285 shares of the company’s stock worth $515,000 after purchasing an additional 24,664 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in Payoneer Global by 1,065.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,081,589 shares of the company’s stock worth $20,899,000 after purchasing an additional 1,902,925 shares in the last quarter. 82.22% of the stock is owned by institutional investors.

Payoneer Global Stock Performance

Shares of Payoneer Global stock opened at $7.28 on Thursday. The stock has a market capitalization of $2.62 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03. Payoneer Global Inc. has a 52-week low of $5.03 and a 52-week high of $11.29. The company has a 50-day simple moving average of $6.91 and a two-hundred day simple moving average of $9.03.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The firm had revenue of $246.62 million during the quarter, compared to analysts’ expectations of $244.52 million. During the same period last year, the firm posted $0.08 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PAYO. Deutsche Bank Aktiengesellschaft began coverage on shares of Payoneer Global in a research note on Monday, February 3rd. They issued a “buy” rating and a $13.00 target price on the stock. Needham & Company LLC lowered their target price on shares of Payoneer Global from $14.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Citigroup increased their target price on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $7.00 to $9.00 in a research note on Tuesday. Finally, The Goldman Sachs Group lowered their target price on shares of Payoneer Global from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $11.64.

Payoneer Global Company Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.