Mark Newcomer Sells 31,500 Shares of Paysign, Inc. (NASDAQ:PAYS) Stock

Paysign, Inc. (NASDAQ:PAYS) CEO Mark Newcomer sold 31,500 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $5.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief executive officer now directly owns 8,670,886 shares in the company, valued at approximately $43,354,430. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Mark Newcomer also recently made the following trade(s):

• On Wednesday, June 11th, Mark Newcomer sold 8,000 shares of Paysign stock. The stock was sold at an average price of $5.00, for a total transaction of $40,000.00.
• On Monday, June 9th, Mark Newcomer sold 46,500 shares of Paysign stock. The shares were sold at an average price of $5.00, for a total transaction of $232,500.00.
• On Thursday, June 5th, Mark Newcomer sold 19,693 shares of Paysign stock. The stock was sold at an average price of $4.51, for a total value of $88,815.43.
• On Monday, June 2nd, Mark Newcomer sold 307 shares of Paysign stock. The shares were sold at an average price of $4.50, for a total value of $1,381.50.
• On Thursday, May 29th, Mark Newcomer sold 168,000 shares of Paysign stock. The shares were sold at an average price of $4.51, for a total value of $757,680.00.

Paysign Stock Performance

Shares of NASDAQ:PAYS opened at $4.86 on Friday. Paysign, Inc. has a 52-week low of $1.80 and a 52-week high of $5.59. The business’s 50 day simple moving average is $3.17 and its two-hundred day simple moving average is $2.91. The firm has a market cap of $263.50 million, a P/E ratio of 32.40 and a beta of 0.60.

Paysign (NASDAQ:PAYS) last issued its earnings results on Thursday, May 8th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Paysign had a return on equity of 30.64% and a net margin of 14.28%. The company had revenue of $18.60 million for the quarter, compared to analyst estimates of $17.49 million. On average, equities analysts forecast that Paysign, Inc. will post 0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on PAYS. DA Davidson lifted their target price on Paysign from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Lake Street Capital raised their price objective on shares of Paysign from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. LADENBURG THALM/SH SH boosted their target price on shares of Paysign from $7.25 to $8.25 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Barrington Research reissued an “outperform” rating and set a $7.00 target price on shares of Paysign in a research note on Wednesday, March 26th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PAYS. PDT Partners LLC acquired a new position in shares of Paysign during the fourth quarter valued at about $39,000. Royce & Associates LP lifted its position in Paysign by 36.5% in the 1st quarter. Royce & Associates LP now owns 19,319 shares of the company’s stock valued at $41,000 after acquiring an additional 5,166 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Paysign by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 15,385 shares of the company’s stock valued at $46,000 after purchasing an additional 5,243 shares during the last quarter. SG Americas Securities LLC increased its holdings in Paysign by 33.5% during the 4th quarter. SG Americas Securities LLC now owns 15,508 shares of the company’s stock worth $47,000 after purchasing an additional 3,895 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Paysign during the 1st quarter worth approximately $51,000. 25.89% of the stock is owned by institutional investors.

Paysign Company Profile

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.