Seven Eight Capital LP Takes Position in Payoneer Global Inc. (NASDAQ:PAYO)

Seven Eight Capital LP acquired a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 110,321 shares of the company’s stock, valued at approximately $693,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAYO. FMR LLC increased its stake in shares of Payoneer Global by 0.4% in the second quarter. FMR LLC now owns 533,502 shares of the company’s stock valued at $2,091,000 after purchasing an additional 2,039 shares during the period. Arizona State Retirement System increased its stake in shares of Payoneer Global by 3.8% in the first quarter. Arizona State Retirement System now owns 60,882 shares of the company’s stock valued at $382,000 after purchasing an additional 2,228 shares during the period. Wells Fargo & Company MN increased its stake in shares of Payoneer Global by 60.5% in the fourth quarter. Wells Fargo & Company MN now owns 11,511 shares of the company’s stock valued at $63,000 after purchasing an additional 4,341 shares during the period. LPL Financial LLC increased its stake in shares of Payoneer Global by 23.4% in the fourth quarter. LPL Financial LLC now owns 23,840 shares of the company’s stock valued at $130,000 after purchasing an additional 4,525 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Payoneer Global by 91.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,576 shares of the company’s stock valued at $59,000 after purchasing an additional 4,579 shares during the period. Institutional investors and hedge funds own 82.92% of the company’s stock.

Payoneer Global Trading Down 0.5 %

Shares of NASDAQ:PAYO opened at $6.21 on Monday. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 207.00 and a beta of 0.98. Payoneer Global Inc. has a 1-year low of $4.02 and a 1-year high of $8.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10. The company has a 50 day moving average price of $5.50 and a 200 day moving average price of $5.41.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Tuesday, August 8th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $206.70 million during the quarter, compared to analysts’ expectations of $197.24 million. Payoneer Global had a net margin of 2.28% and a return on equity of 4.36%. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. On average, research analysts anticipate that Payoneer Global Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on PAYO. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Payoneer Global in a report on Wednesday, August 9th. Berenberg Bank began coverage on shares of Payoneer Global in a report on Monday, July 10th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Citigroup increased their price objective on shares of Payoneer Global from $9.00 to $10.00 in a report on Wednesday, August 9th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $8.07.

Insider Buying and Selling

In related news, Director Scott H. Galit sold 12,222 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $5.84, for a total transaction of $71,376.48. Following the completion of the sale, the director now directly owns 1,333,528 shares in the company, valued at $7,787,803.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Scott H. Galit sold 12,222 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $5.84, for a total value of $71,376.48. Following the completion of the sale, the director now owns 1,333,528 shares in the company, valued at approximately $7,787,803.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott H. Galit sold 14,073 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $6.17, for a total transaction of $86,830.41. Following the completion of the sale, the director now owns 1,270,938 shares of the company’s stock, valued at approximately $7,841,687.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,859 shares of company stock worth $255,934. Corporate insiders own 5.57% of the company’s stock.

About Payoneer Global

Payoneer Global Inc operates a payment and commerce-enabling platform worldwide. It delivers a suite of services that includes cross-border payments, B2B accounts payable/accounts receivable, multi-currency account, physical and virtual Mastercard cards, working capital, merchant, tax, compliance and risk, and others.