Legal & General Group Plc Makes New Investment in Payoneer Global Inc. $PAYO

Legal & General Group Plc bought a new position in Payoneer Global Inc. (NASDAQ:PAYO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 641,383 shares of the company’s stock, valued at approximately $4,567,000.

Several other institutional investors also recently bought and sold shares of the stock. Leonteq Securities AG boosted its holdings in shares of Payoneer Global by 72.0% during the 1st quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock valued at $31,000 after purchasing an additional 2,720 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Payoneer Global by 246.5% in the second quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after purchasing an additional 3,298 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Payoneer Global by 73.8% in the second quarter. GAMMA Investing LLC now owns 5,777 shares of the company’s stock worth $41,000 after buying an additional 2,453 shares in the last quarter. Resonant Capital Advisors LLC purchased a new stake in shares of Payoneer Global in the first quarter worth about $49,000. Finally, CWM LLC boosted its stake in Payoneer Global by 178.6% during the fourth quarter. CWM LLC now owns 9,384 shares of the company’s stock valued at $53,000 after buying an additional 6,016 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PAYO. Weiss Ratings raised Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft downgraded Payoneer Global from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Keefe, Bruyette & Woods downgraded shares of Payoneer Global from a “moderate buy” rating to a “hold” rating in a research note on Monday, June 15th. Needham & Company LLC lowered Payoneer Global from a “buy” rating to a “hold” rating in a research note on Monday, June 15th. Finally, William Blair lowered Payoneer Global from an “outperform” rating to a “hold” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.40.

Insider Transactions at Payoneer Global

In related news, CFO Beatrice Ordonez sold 25,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $7.01, for a total transaction of $175,250.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is currently owned by insiders.

Payoneer Global Price Performance

Shares of NASDAQ PAYO opened at $7.18 on Friday. The company has a market cap of $2.43 billion, a P/E ratio of 51.29, a PEG ratio of 1.49 and a beta of 0.94. Payoneer Global Inc. has a 1 year low of $4.08 and a 1 year high of $7.18. The firm has a 50-day simple moving average of $7.11 and a two-hundred day simple moving average of $5.88.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.07). The business 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 firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. As a group, equities research analysts expect that Payoneer Global Inc. will post 0.2 EPS for the current 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.