GAMMA Investing LLC Acquires 42,834 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

GAMMA Investing LLC increased its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 519.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,075 shares of the company’s stock after buying an additional 42,834 shares during the period. GAMMA Investing LLC’s holdings in Payoneer Global were worth $373,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its position in Payoneer Global by 420.6% in the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company’s stock valued at $37,000 after acquiring an additional 4,067 shares during the period. Insight Wealth Strategies LLC grew its stake in shares of Payoneer Global by 25.1% in the first quarter. Insight Wealth Strategies LLC now owns 368,599 shares of the company’s stock worth $2,694,000 after purchasing an additional 73,947 shares during the last quarter. California State Teachers Retirement System increased its holdings in Payoneer Global by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 284,558 shares of the company’s stock valued at $2,857,000 after purchasing an additional 6,350 shares during the period. Forum Financial Management LP bought a new position in Payoneer Global during the 4th quarter worth $122,000. Finally, Neo Ivy Capital Management acquired a new position in Payoneer Global during the 4th quarter worth about $1,543,000. 82.22% of the stock is owned by institutional investors.

Payoneer Global Stock Performance

Shares of PAYO opened at $6.49 on Friday. The firm has a market cap of $2.35 billion, a PE ratio of 21.63 and a beta of 0.99. Payoneer Global Inc. has a 52-week low of $5.03 and a 52-week high of $11.29. The business’s 50 day moving average price is $6.80 and its two-hundred day moving average price is $8.40.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $246.62 million for the quarter, compared to analyst estimates of $244.52 million. Payoneer Global had a net margin of 11.32% and a return on equity of 15.70%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 EPS. Research analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity

In related news, Director Susanna Morgan sold 16,180 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 80,902 shares of the company’s stock, valued at approximately $547,706.54. This represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PAYO shares. Jefferies Financial Group increased their price target on Payoneer Global from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Tuesday, May 27th. 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. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $7.00 to $9.00 in a report on Tuesday, May 13th. Needham & Company LLC dropped their price target 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. Finally, The Goldman Sachs Group decreased their price objective on shares of Payoneer Global from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Payoneer Global presently has a consensus rating of “Buy” and a consensus target price of $10.44.

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.