Pentwater Capital Management LP Purchases New Position in Payoneer Global Inc. $PAYO

Pentwater Capital Management LP acquired a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,888,410 shares of the company’s stock, valued at approximately $70,405,000. Payoneer Global makes up approximately 0.4% of Pentwater Capital Management LP’s investment portfolio, making the stock its 26th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in PAYO. BlackRock Inc. bought a new stake in Payoneer Global during the 2nd quarter worth $278,076,000. Bank of America Corp DE bought a new position in Payoneer Global during the second quarter worth $26,398,000. Invesco Ltd. lifted its holdings in Payoneer Global by 137.3% in the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock valued at $38,104,000 after buying an additional 3,218,917 shares during the period. Bank of New York Mellon Corp bought a new stake in Payoneer Global during the second quarter valued at $10,549,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Payoneer Global by 2,061.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,013,014 shares of the company’s stock worth $4,893,000 after acquiring an additional 966,146 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

Insider Buying and Selling

In other news, CFO Beatrice Ordonez sold 25,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the sale, the chief financial officer directly owned 2,887,266 shares of the company’s stock, valued at $20,239,734.66. This represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Benchmark lowered Payoneer Global from a “buy” rating to a “hold” rating in a research report on Thursday, June 18th. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Citigroup lowered shares of Payoneer Global from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $10.00 to $7.40 in a research note on Tuesday, June 16th. Needham & Company LLC lowered shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Monday, June 15th. Finally, William Blair downgraded shares of Payoneer Global from an “outperform” rating to a “hold” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.40.

Payoneer Global Trading Up 0.1%

Shares of PAYO stock opened at $7.12 on Thursday. The firm has a market capitalization of $2.41 billion, a PE ratio of 50.86, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96. The firm has a fifty day simple moving average of $7.10 and a two-hundred day simple moving average of $5.82. Payoneer Global Inc. has a 12 month low of $4.08 and a 12 month high of $7.18.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). The business had revenue of $274.26 million for the quarter, compared to analyst estimates of $270.98 million. Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 earnings per share. On average, equities analysts predict that Payoneer Global Inc. will post 0.2 earnings per share for the current fiscal year.

Payoneer Global Company Profile

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.