Renaissance Technologies LLC Sells 576,307 Shares of Payoneer Global Inc. $PAYO

Renaissance Technologies LLC cut its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 19.2% during the first quarter, Holdings Channel reports. The fund owned 2,432,300 shares of the company’s stock after selling 576,307 shares during the period. Renaissance Technologies LLC’s holdings in Payoneer Global were worth $11,748,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PAYO. Van ECK Associates Corp boosted its stake in Payoneer Global by 2.4% in the fourth quarter. Van ECK Associates Corp now owns 84,678 shares of the company’s stock worth $476,000 after purchasing an additional 1,977 shares in the last quarter. Susquehanna International Group LLP grew its holdings in shares of Payoneer Global by 9.5% during the third quarter. Susquehanna International Group LLP now owns 24,637 shares of the company’s stock worth $149,000 after purchasing an additional 2,144 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Payoneer Global by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 54,909 shares of the company’s stock valued at $309,000 after buying an additional 2,145 shares in the last quarter. LPL Financial LLC increased its stake in shares of Payoneer Global by 5.8% in the fourth quarter. LPL Financial LLC now owns 42,211 shares of the company’s stock valued at $237,000 after buying an additional 2,304 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Payoneer Global by 8.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 31,677 shares of the company’s stock valued at $178,000 after buying an additional 2,368 shares during the last quarter. Institutional investors own 82.22% of the company’s stock.

Payoneer Global Stock Up 0.1%

Shares of PAYO stock opened at $7.17 on Friday. The stock has a 50-day moving average price of $6.62 and a 200 day moving average price of $5.66. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 0.81 and a beta of 0.95. Payoneer Global Inc. has a 12 month low of $4.08 and a 12 month high of $7.66.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $261.60 million during the quarter, compared to analysts’ expectations of $255.12 million. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 EPS. Sell-side analysts predict that Payoneer Global Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity at Payoneer Global

In related news, CFO Beatrice Ordonez sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction 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. The trade was a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup downgraded shares of Payoneer Global from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $10.00 to $7.40 in a research report on Tuesday, June 16th. Weiss Ratings upgraded shares of Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 25th. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $7.40 target price on shares of Payoneer Global in a research report on Tuesday, June 16th. Finally, Needham & Company LLC cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Monday, June 15th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Payoneer Global presently has an average rating of “Hold” and a consensus price target of $7.40.

About Payoneer Global

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.