PNC Financial Services Group Inc. Cuts Stock Position in Payoneer Global Inc. $PAYO

PNC Financial Services Group Inc. trimmed its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 42.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,565 shares of the company’s stock after selling 7,671 shares during the period. PNC Financial Services Group Inc.’s holdings in Payoneer Global were worth $77,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PAYO. Quarry LP purchased a new stake in shares of Payoneer Global during the fourth quarter worth about $29,000. Farther Finance Advisors LLC acquired a new stake in Payoneer Global in the 1st quarter worth about $25,000. Versant Capital Management Inc increased its stake in Payoneer Global by 420.6% during the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company’s stock worth $37,000 after buying an additional 4,067 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Payoneer Global by 47,800.0% during the first quarter. IFP Advisors Inc now owns 6,227 shares of the company’s stock valued at $46,000 after acquiring an additional 6,214 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Payoneer Global by 559.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company’s stock valued at $62,000 after acquiring an additional 7,195 shares during the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Stock Down 0.9%

NASDAQ PAYO opened at $6.65 on Thursday. The business’s fifty day simple moving average is $6.74 and its 200-day simple moving average is $7.35. The firm has a market cap of $2.40 billion, a PE ratio of 25.58, a P/E/G ratio of 8.83 and a beta of 0.97. Payoneer Global Inc. has a 52 week low of $5.71 and a 52 week high of $11.29.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The firm had revenue of $260.61 million during the quarter, compared to analysts’ expectations of $253.17 million. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Research analysts expect that Payoneer Global Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a research note on Thursday, July 17th. They issued a “buy” rating and a $8.00 price target on the stock. Jefferies Financial Group raised 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. Keefe, Bruyette & Woods raised shares of Payoneer Global from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $7.00 to $9.00 in a report on Tuesday, May 13th. Needham & Company LLC increased their target price on shares of Payoneer Global from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Citigroup reissued a “buy” rating and issued a $10.00 price target (down from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Payoneer Global presently has an average rating of “Moderate Buy” and a consensus price target of $10.06.

Insider Activity

In other news, Director Susanna Morgan sold 16,180 shares of Payoneer Global 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 2.58% of the stock is owned by corporate insiders.

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.