Federated Hermes Inc. Acquires New Stake in Payoneer Global Inc. (NASDAQ:PAYO)

Federated Hermes Inc. bought a new position in Payoneer Global Inc. (NASDAQ:PAYO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,571 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Payoneer Global in the 3rd quarter valued at about $432,000. Bank of New York Mellon Corp grew its stake in Payoneer Global by 14.3% in the third quarter. Bank of New York Mellon Corp now owns 2,024,190 shares of the company’s stock worth $12,388,000 after purchasing an additional 253,195 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Payoneer Global by 52.1% during the 3rd quarter. New York State Teachers Retirement System now owns 167,081 shares of the company’s stock worth $1,023,000 after purchasing an additional 57,200 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Payoneer Global by 2.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 539,323 shares of the company’s stock valued at $3,301,000 after purchasing an additional 15,241 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Payoneer Global by 19.2% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 76,288 shares of the company’s stock worth $467,000 after buying an additional 12,300 shares during the period. 82.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PAYO shares. Benchmark reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Payoneer Global in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods dropped their price objective on shares of Payoneer Global from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Cantor Fitzgerald lowered their target price on Payoneer Global from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, March 1st. The Goldman Sachs Group cut their price target on 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 price objective on Payoneer Global from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $6.57.

Payoneer Global Stock Performance

PAYO opened at $5.22 on Wednesday. The company has a market cap of $1.92 billion, a P/E ratio of 21.75 and a beta of 0.77. 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 firm’s 50-day moving average price is $4.80 and its 200-day moving average price is $5.06. Payoneer Global Inc. has a 52-week low of $4.02 and a 52-week high of $6.48.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Payoneer Global had a net margin of 11.23% and a return on equity of 14.80%. The business had revenue of $224.32 million during the quarter, compared to the consensus estimate of $223.65 million. As a group, equities analysts anticipate that Payoneer Global Inc. will post 0.2 EPS for the current fiscal year.

Insider Activity

In related news, Director Scott H. Galit sold 16,697 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $5.39, for a total value of $89,996.83. Following the sale, the director now owns 3,156,731 shares in the company, valued at $17,014,780.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Scott H. Galit sold 355,717 shares of Payoneer Global stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $4.71, for a total transaction of $1,675,427.07. Following the completion of the transaction, the director now directly owns 3,127,981 shares in the company, valued at $14,732,790.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott H. Galit sold 16,697 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $5.39, for a total value of $89,996.83. Following the completion of the sale, the director now owns 3,156,731 shares in the company, valued at approximately $17,014,780.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,231,424 shares of company stock valued at $5,865,310. Company insiders own 5.57% of the company’s stock.

About Payoneer Global

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.