Bank of New York Mellon Corp Sells 107,173 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Bank of New York Mellon Corp lessened its holdings in Payoneer Global Inc. (NASDAQ:PAYO) by 6.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,580,982 shares of the company’s stock after selling 107,173 shares during the quarter. Bank of New York Mellon Corp owned 0.44% of Payoneer Global worth $11,557,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PAYO. Susquehanna Capital Management LLC lifted its position in Payoneer Global by 290.3% during the 4th quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company’s stock worth $253,700,000 after buying an additional 18,794,047 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Payoneer Global by 200.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,470,347 shares of the company’s stock valued at $34,842,000 after acquiring an additional 2,313,481 shares during the last quarter. Deutsche Bank AG raised its holdings in Payoneer Global by 252.8% during the fourth quarter. Deutsche Bank AG now owns 2,779,110 shares of the company’s stock worth $27,902,000 after acquiring an additional 1,991,449 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Payoneer Global during the fourth quarter valued at approximately $19,305,000. Finally, D. E. Shaw & Co. Inc. grew its stake in Payoneer Global by 1,065.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,081,589 shares of the company’s stock valued at $20,899,000 after purchasing an additional 1,902,925 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

Insider Activity

In related news, Director Susanna Morgan sold 16,180 shares of the firm’s 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 sale, the director owned 80,902 shares of the company’s stock, valued at $547,706.54. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PAYO. Jefferies Financial Group increased their price objective on Payoneer Global from $8.00 to $8.50 and gave the company a “buy” rating in a report on Tuesday, May 27th. Needham & Company LLC cut their price target on shares of Payoneer Global from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. 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. Keefe, Bruyette & Woods raised shares of Payoneer Global from a “market perform” rating to an “outperform” rating and upped their target price for the company from $7.00 to $9.00 in a report on Tuesday, May 13th. Finally, Citigroup reiterated a “buy” rating and issued a $10.00 target price (down from $13.00) on shares of Payoneer Global in a research note 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.com, Payoneer Global presently has an average rating of “Buy” and a consensus price target of $9.81.

Payoneer Global Price Performance

Shares of PAYO opened at $6.81 on Monday. The firm has a 50 day simple moving average of $6.85 and a two-hundred day simple moving average of $7.89. Payoneer Global Inc. has a one year low of $5.03 and a one year high of $11.29. The company has a market cap of $2.46 billion, a P/E ratio of 22.70 and a beta of 0.98.

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