Illinois Municipal Retirement Fund Buys 39,322 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Illinois Municipal Retirement Fund raised its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 33.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 157,523 shares of the company’s stock after acquiring an additional 39,322 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Payoneer Global were worth $821,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Handelsbanken Fonder AB boosted its stake in shares of Payoneer Global by 76.4% in the 4th quarter. Handelsbanken Fonder AB now owns 38,100 shares of the company’s stock valued at $199,000 after purchasing an additional 16,500 shares in the last quarter. Federated Hermes Inc. bought a new position in Payoneer Global during the 4th quarter valued at about $29,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Payoneer Global by 23.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,796 shares of the company’s stock valued at $338,000 after buying an additional 12,403 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Payoneer Global during the fourth quarter worth about $679,000. Finally, Insight Wealth Strategies LLC increased its holdings in shares of Payoneer Global by 13.9% during the fourth quarter. Insight Wealth Strategies LLC now owns 129,062 shares of the company’s stock worth $672,000 after buying an additional 15,743 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PAYO. Cantor Fitzgerald decreased their price target on Payoneer Global from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Citigroup decreased their target price on Payoneer Global from $7.50 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Keefe, Bruyette & Woods cut their price target on Payoneer Global from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. The Goldman Sachs Group decreased their price objective on shares of Payoneer Global from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Finally, Needham & Company LLC dropped their target price on shares of Payoneer Global from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, April 1st. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $6.57.

Payoneer Global Price Performance

Payoneer Global stock opened at $4.97 on Tuesday. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 20.71 and a beta of 0.81. Payoneer Global Inc. has a 12-month low of $4.02 and a 12-month high of $6.48. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $4.84 and its 200 day simple moving average is $5.09.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Payoneer Global had a net margin of 11.23% and a return on equity of 14.80%. The company had revenue of $224.32 million for the quarter, compared to analyst estimates of $223.65 million. As a group, research analysts anticipate that Payoneer Global Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 12,447 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $4.88, for a total transaction of $60,741.36. Following the completion of the sale, the director now owns 3,190,571 shares in the company, valued at approximately $15,569,986.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Payoneer Global news, Director Scott H. Galit sold 191,283 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $4.85, for a total value of $927,722.55. Following the transaction, the director now owns 2,476,139 shares of the company’s stock, valued at $12,009,274.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott H. Galit sold 12,447 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $4.88, for a total value of $60,741.36. Following the transaction, the director now owns 3,190,571 shares of the company’s stock, valued at $15,569,986.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,231,650 shares of company stock valued at $5,862,136. 5.57% of the stock is currently owned by insiders.

Payoneer Global Company Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.