BlackRock Inc. purchased a new stake in shares of Payoneer Global Inc. (NASDAQ:PAYO – Free Report) during the second quarter, Holdings Channel reports. The fund purchased 39,055,605 shares of the company’s stock, valued at approximately $278,076,000. BlackRock Inc. owned about 0.12% of Payoneer Global as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Leonteq Securities AG lifted its stake in Payoneer Global by 72.0% in the first quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock valued at $31,000 after buying an additional 2,720 shares during the period. Osaic Holdings Inc. raised 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 valued at $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% during the second quarter. GAMMA Investing LLC now owns 5,777 shares of the company’s stock valued at $41,000 after purchasing an additional 2,453 shares in the last quarter. Resonant Capital Advisors LLC bought a new position in shares of Payoneer Global during the first quarter valued at about $49,000. Finally, CWM LLC boosted its holdings in Payoneer Global by 178.6% during the fourth quarter. CWM LLC now owns 9,384 shares of the company’s stock worth $53,000 after purchasing an additional 6,016 shares during the last quarter. 82.22% of the stock is owned by institutional investors.
Insider Activity
In other news, CFO Beatrice Ordonez sold 25,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the sale, the chief financial officer directly owned 2,887,266 shares of the company’s stock, valued at approximately $20,239,734.66. This represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.06% of the company’s stock.
Payoneer Global Stock Performance
Payoneer Global (NASDAQ:PAYO – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.The company had revenue of $274.26 million for the quarter, compared to analysts’ expectations of $270.98 million. During the same period last year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts predict that Payoneer Global Inc. will post 0.2 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Citigroup lowered shares of Payoneer Global from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $10.00 to $7.40 in a research note on Tuesday, June 16th. Wall Street Zen raised Payoneer Global from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. William Blair downgraded Payoneer Global from an “outperform” rating to a “hold” rating in a research report on Monday, June 15th. Weiss Ratings lowered Payoneer Global from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Northland Securities set a $7.40 price objective on Payoneer Global in a research report on Monday, June 15th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.40.
Read Our Latest Research Report on PAYO
Payoneer Global Company 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.
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