Insider Selling: Lesaka Technologies (NASDAQ:LSAK) Major Shareholder Sells 66,437 Shares of Stock

Lesaka Technologies, Inc. (NASDAQ:LSAK) major shareholder Finance Corp International sold 66,437 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $4.90, for a total transaction of $325,541.30. Following the completion of the sale, the insider owned 5,244,859 shares in the company, valued at $25,699,809.10. This represents a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Finance Corp International also recently made the following trade(s):

• On Wednesday, April 15th, Finance Corp International sold 19,488 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.90, for a total value of $95,491.20.
• On Tuesday, April 14th, Finance Corp International sold 106,948 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.90, for a total value of $524,045.20.
• On Monday, April 13th, Finance Corp International sold 52,230 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.92, for a total value of $256,971.60.
• On Friday, April 10th, Finance Corp International sold 57,894 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.98, for a total transaction of $288,312.12.
• On Thursday, April 9th, Finance Corp International sold 9,878 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.95, for a total transaction of $48,896.10.
• On Wednesday, April 8th, Finance Corp International sold 19,311 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.93, for a total transaction of $95,203.23.
• On Tuesday, April 7th, Finance Corp International sold 47,954 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.91, for a total transaction of $235,454.14.
• On Monday, April 6th, Finance Corp International sold 34,219 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.95, for a total transaction of $169,384.05.
• On Thursday, April 2nd, Finance Corp International sold 9,928 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.99, for a total value of $49,540.72.
• On Wednesday, April 1st, Finance Corp International sold 18,663 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.97, for a total transaction of $92,755.11.

Lesaka Technologies Stock Down 0.4%

NASDAQ LSAK traded down $0.02 on Thursday, hitting $4.92. 354,768 shares of the company were exchanged, compared to its average volume of 92,502. The company has a current ratio of 1.57, a quick ratio of 1.43 and a debt-to-equity ratio of 1.09. The company has a market cap of $412.89 million, a PE ratio of -7.81 and a beta of 0.39. The stock has a fifty day moving average of $4.77 and a 200-day moving average of $4.46. Lesaka Technologies, Inc. has a 12 month low of $3.39 and a 12 month high of $5.54.

Lesaka Technologies (NASDAQ:LSAK) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04. Lesaka Technologies had a negative net margin of 7.87% and a negative return on equity of 28.23%. The firm had revenue of $93.40 million during the quarter, compared to the consensus estimate of $166.00 million. As a group, analysts forecast that Lesaka Technologies, Inc. will post -0.16 earnings per share for the current year.

Institutional Investors Weigh In On Lesaka Technologies

Large investors have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new position in shares of Lesaka Technologies in the 3rd quarter worth about $74,000. Citadel Advisors LLC increased its holdings in Lesaka Technologies by 26.4% during the third quarter. Citadel Advisors LLC now owns 18,977 shares of the company’s stock worth $79,000 after buying an additional 3,959 shares during the last quarter. 9823 Capital L.P. bought a new stake in Lesaka Technologies in the fourth quarter worth about $94,000. Barclays PLC boosted its stake in Lesaka Technologies by 13,359.8% in the fourth quarter. Barclays PLC now owns 141,866 shares of the company’s stock valued at $677,000 after acquiring an additional 140,812 shares during the last quarter. Finally, Potomac Capital Management Inc. purchased a new position in Lesaka Technologies in the fourth quarter valued at about $4,766,000. 24.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LSAK shares. Wall Street Zen upgraded Lesaka Technologies to a “hold” rating in a research note on Saturday, February 14th. Zacks Research upgraded Lesaka Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lesaka Technologies in a research report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lesaka Technologies currently has an average rating of “Reduce”.

About Lesaka Technologies

Lesaka Technologies, Inc operates as a Fintech company that utilizes its proprietary banking and payment technologies to deliver financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. It offers cash management solutions, growth capital, card acquiring, bill payment technologies, and value-added services to formal and informal retail merchants, as well as banking, lending, and insurance solutions to consumers across Southern Africa. The company also engages in the sale of POS devices, SIM cards, and other consumables; and license of rights to use certain technology developed by the company, as well as offers related technology services.