Payoneer Global Inc. (NASDAQ:PAYO) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in Payoneer Global Inc. (NASDAQ:PAYO) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 721,340 shares of the company’s stock after selling 8,295 shares during the period. Rhumbline Advisers owned approximately 0.20% of Payoneer Global worth $5,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PAYO. GAMMA Investing LLC boosted its position in Payoneer Global by 519.8% in the 1st quarter. GAMMA Investing LLC now owns 51,075 shares of the company’s stock valued at $373,000 after buying an additional 42,834 shares during the period. Versant Capital Management Inc increased its stake in shares of Payoneer Global by 420.6% during the first quarter. Versant Capital Management Inc now owns 5,034 shares of the company’s stock worth $37,000 after acquiring an additional 4,067 shares during the period. Insight Wealth Strategies LLC grew its position in Payoneer Global by 25.1% during the first quarter. Insight Wealth Strategies LLC now owns 368,599 shares of the company’s stock worth $2,694,000 after buying an additional 73,947 shares during the period. California State Teachers Retirement System grew its position in Payoneer Global by 2.3% during the fourth quarter. California State Teachers Retirement System now owns 284,558 shares of the company’s stock worth $2,857,000 after buying an additional 6,350 shares during the period. Finally, Forum Financial Management LP acquired a new stake in shares of Payoneer Global in the fourth quarter valued at approximately $122,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

Insider Buying and Selling at Payoneer Global

In other news, Director Susanna Morgan sold 16,180 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total transaction of $109,538.60. Following the completion of the transaction, the director now owns 80,902 shares in the company, valued at approximately $547,706.54. This represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.58% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods raised shares of Payoneer Global from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $7.00 to $9.00 in a research note on Tuesday, May 13th. The Goldman Sachs Group reduced their price target on shares of Payoneer Global from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Needham & Company LLC cut their price objective on shares of Payoneer Global from $14.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Jefferies Financial Group boosted their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Finally, Citigroup reiterated a “buy” rating and issued a $10.00 target price (down from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $10.44.

Payoneer Global Trading Down 0.9%

NASDAQ:PAYO opened at $6.90 on Friday. The stock has a market cap of $2.50 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.88 and a beta of 0.99. The stock’s 50-day moving average is $6.77 and its 200-day moving average is $8.58. Payoneer Global Inc. has a 1-year low of $5.03 and a 1-year high of $11.29.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company had revenue of $246.62 million during the quarter, compared to the consensus estimate of $244.52 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current year.

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.