Hussman Strategic Advisors Inc. Acquires Shares of 84,000 Pagaya Technologies Ltd. $PGY

Hussman Strategic Advisors Inc. acquired a new position in Pagaya Technologies Ltd. (NASDAQ:PGY) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 84,000 shares of the company’s stock, valued at approximately $2,494,000. Hussman Strategic Advisors Inc. owned 0.11% of Pagaya Technologies as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in Pagaya Technologies by 26.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock worth $17,871,000 after purchasing an additional 359,099 shares during the period. JPMorgan Chase & Co. increased its position in shares of Pagaya Technologies by 436.9% in the second quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock valued at $29,534,000 after buying an additional 1,127,242 shares in the last quarter. Millennium Management LLC raised its stake in shares of Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after buying an additional 961,944 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Pagaya Technologies by 1,231.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock valued at $25,591,000 after buying an additional 1,110,208 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Pagaya Technologies by 40.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 731,454 shares of the company’s stock valued at $15,595,000 after acquiring an additional 209,733 shares during the period. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PGY shares. Keefe, Bruyette & Woods decreased their price objective on shares of Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, January 2nd. Benchmark reaffirmed a “buy” rating and issued a $48.00 price target on shares of Pagaya Technologies in a research note on Wednesday, October 1st. Canaccord Genuity Group lifted their price objective on Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pagaya Technologies in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.25.

Insider Buying and Selling

In other Pagaya Technologies news, CFO Evangelos Perros sold 9,750 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $22.99, for a total transaction of $224,152.50. Following the completion of the sale, the chief financial officer owned 100,212 shares of the company’s stock, valued at $2,303,873.88. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tami Rosen sold 7,561 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $30.73, for a total value of $232,349.53. Following the completion of the transaction, the insider directly owned 37,544 shares in the company, valued at approximately $1,153,727.12. This trade represents a 16.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 21,256 shares of company stock worth $547,198. Company insiders own 47.59% of the company’s stock.

Pagaya Technologies Price Performance

Pagaya Technologies stock opened at $20.77 on Wednesday. Pagaya Technologies Ltd. has a 12-month low of $8.50 and a 12-month high of $44.99. The stock has a market cap of $1.67 billion, a P/E ratio of -7.78 and a beta of 5.86. The company has a 50-day moving average price of $23.01 and a 200 day moving average price of $28.41. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 1.16.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Monday, November 10th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.46. The company had revenue of $350.17 million for the quarter, compared to analyst estimates of $338.86 million. Pagaya Technologies had a negative net margin of 15.32% and a positive return on equity of 31.59%. Pagaya Technologies’s revenue was up 36.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. Sell-side analysts anticipate that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.