Man Group plc purchased a new position in Payoneer Global Inc. (NASDAQ:PAYO – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 350,000 shares of the company’s stock, valued at approximately $2,492,000. Man Group plc owned 0.10% of Payoneer Global at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of PAYO. BlackRock Inc. bought a new position in shares of Payoneer Global during the second quarter worth $278,076,000. State Street Corp increased its holdings in Payoneer Global by 1.8% in the 4th quarter. State Street Corp now owns 10,772,088 shares of the company’s stock valued at $60,539,000 after acquiring an additional 195,410 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Payoneer Global by 1.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,436,470 shares of the company’s stock worth $58,654,000 after purchasing an additional 182,614 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Payoneer Global by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,544,420 shares of the company’s stock worth $36,438,000 after purchasing an additional 263,030 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Payoneer Global by 137.3% during the 2nd quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock valued at $38,104,000 after purchasing an additional 3,218,917 shares during the last quarter. Institutional investors own 82.22% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut Payoneer Global from a “moderate buy” rating to a “hold” rating in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft cut Payoneer Global from a “buy” rating to a “hold” rating in a report on Friday, August 7th. Citigroup downgraded Payoneer Global from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $7.40 in a research note on Tuesday, June 16th. William Blair cut Payoneer Global from an “outperform” rating to a “hold” rating in a report on Monday, June 15th. Finally, Weiss Ratings downgraded Payoneer Global from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.40.
Payoneer Global Stock Performance
PAYO opened at $7.11 on Tuesday. The stock has a 50-day moving average of $7.11 and a 200 day moving average of $5.85. Payoneer Global Inc. has a 12 month low of $4.08 and a 12 month high of $7.18. The firm has a market cap of $2.41 billion, a P/E ratio of 50.79, a P/E/G ratio of 1.49 and a beta of 0.96.
Payoneer Global (NASDAQ:PAYO – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $274.26 million during the quarter, compared to the consensus estimate of $270.98 million. Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. Payoneer Global’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 earnings per share. On average, research analysts forecast that Payoneer Global Inc. will post 0.2 earnings per share for the current fiscal year.
Insider Transactions at Payoneer Global
In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of Payoneer Global 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 completion of the transaction, the chief financial officer directly owned 2,887,266 shares of the company’s stock, 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 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 corporate insiders.
About Payoneer Global
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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