Polar Asset Management Partners Inc. Takes Position in Payoneer Global Inc. $PAYO

Polar Asset Management Partners Inc. bought a new position in Payoneer Global Inc. (NASDAQ:PAYO) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 105,354 shares of the company’s stock, valued at approximately $750,000.

Other hedge funds also recently made changes to their positions in the company. Jupiter Topco LLC bought a new position in Payoneer Global during the second quarter valued at approximately $3,313,000. Hsbc Holdings PLC bought a new stake in Payoneer Global in the 2nd quarter worth approximately $2,340,000. Canada Pension Plan Investment Board purchased a new stake in shares of Payoneer Global during the 2nd quarter worth approximately $634,000. Legal & General Group Plc purchased a new stake in shares of Payoneer Global during the 2nd quarter worth approximately $4,567,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Payoneer Global during the 2nd quarter valued at approximately $956,000. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PAYO shares. Citigroup lowered shares of Payoneer Global from a “buy” rating to a “neutral” rating and cut their target price for the company from $10.00 to $7.40 in a report on Tuesday, June 16th. Weiss Ratings lowered shares of Payoneer Global from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Benchmark cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Thursday, June 18th. Needham & Company LLC cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Keefe, Bruyette & Woods downgraded shares of Payoneer Global from a “moderate buy” rating to a “hold” rating in a report on Monday, June 15th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.40.

Insiders Place Their Bets

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer owned 2,887,266 shares in the company, 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 legal 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 owned by company insiders.

Payoneer Global Stock Performance

Shares of Payoneer Global stock opened at $7.12 on Thursday. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 50.86, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96. The stock has a 50 day moving average price of $7.10 and a 200-day moving average price of $5.82. Payoneer Global Inc. has a one year low of $4.08 and a one year high of $7.18.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). The company had revenue of $274.26 million for the quarter, compared to analysts’ expectations of $270.98 million. Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. Sell-side analysts predict that Payoneer Global Inc. will post 0.2 earnings per share for the current fiscal year.

Payoneer Global 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.