Mirae Asset Global Investments Co. Ltd. Buys 7,195 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 559.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,480 shares of the company’s stock after buying an additional 7,195 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Payoneer Global were worth $62,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAYO. Farther Finance Advisors LLC bought a new stake in Payoneer Global during the 1st quarter valued at about $25,000. Quarry LP bought a new stake in Payoneer Global during the 4th quarter valued at about $29,000. Versant Capital Management Inc lifted its holdings in Payoneer Global by 420.6% during the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company’s stock valued at $37,000 after buying an additional 4,067 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Payoneer Global by 405.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock valued at $38,000 after buying an additional 3,064 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Payoneer Global by 86.4% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 11,956 shares of the company’s stock valued at $87,000 after buying an additional 5,542 shares in the last quarter. Institutional investors own 82.22% of the company’s stock.

Payoneer Global Trading Up 1.3%

NASDAQ:PAYO opened at $7.02 on Monday. The company has a market cap of $2.54 billion, a PE ratio of 23.40 and a beta of 0.98. Payoneer Global Inc. has a twelve month low of $5.03 and a twelve month high of $11.29. The company’s 50 day moving average is $6.87 and its two-hundred day moving average is $8.13.

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

Insiders Place Their Bets

In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.77, for a total transaction of $109,538.60. Following the sale, the director owned 80,902 shares of the company’s stock, valued at approximately $547,706.54. The trade was a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.58% of the company’s stock.

Wall Street Analyst Weigh In

PAYO has been the topic of a number of research reports. The Goldman Sachs Group cut their target price 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 target price 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 raised their target price on shares of Payoneer Global from $8.00 to $8.50 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods raised shares of Payoneer Global from a “market perform” rating to an “outperform” rating and raised their target price for the company from $7.00 to $9.00 in a research report on Tuesday, May 13th. Finally, Citigroup reissued a “buy” rating and set a $10.00 target price (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Payoneer Global presently has a consensus rating of “Buy” and an average target price of $10.44.

Payoneer Global 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.