Insider Selling: Lesaka Technologies (NASDAQ:LSAK) Major Shareholder Sells $524,045.20 in Stock

Lesaka Technologies, Inc. (NASDAQ:LSAK) major shareholder Finance Corp International sold 106,948 shares of Lesaka Technologies stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $4.90, for a total value of $524,045.20. Following the transaction, the insider directly owned 5,330,784 shares of the company’s stock, valued at approximately $26,120,841.60. The trade was a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Finance Corp International also recently made the following trade(s):

• On Thursday, April 16th, Finance Corp International sold 66,437 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.90, for a total value of $325,541.30.
• On Wednesday, April 15th, Finance Corp International sold 19,488 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.90, for a total value of $95,491.20.
• On Monday, April 13th, Finance Corp International sold 52,230 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.92, for a total value of $256,971.60.
• On Friday, April 10th, Finance Corp International sold 57,894 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.98, for a total value of $288,312.12.
• On Thursday, April 9th, Finance Corp International sold 9,878 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.95, for a total value of $48,896.10.
• On Wednesday, April 8th, Finance Corp International sold 19,311 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.93, for a total value of $95,203.23.
• On Tuesday, April 7th, Finance Corp International sold 47,954 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.91, for a total value of $235,454.14.
• On Monday, April 6th, Finance Corp International sold 34,219 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.95, for a total value of $169,384.05.
• On Thursday, April 2nd, Finance Corp International sold 9,928 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.99, for a total value of $49,540.72.
• On Wednesday, April 1st, Finance Corp International sold 18,663 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.97, for a total value of $92,755.11.

Lesaka Technologies Trading Down 0.2%

Shares of LSAK opened at $4.91 on Friday. The stock has a fifty day moving average price of $4.79 and a two-hundred day moving average price of $4.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.43 and a current ratio of 1.57. Lesaka Technologies, Inc. has a 52-week low of $3.39 and a 52-week high of $5.54. The company has a market cap of $412.05 million, a price-to-earnings ratio of -7.79 and a beta of 0.39.

Lesaka Technologies (NASDAQ:LSAK) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. Lesaka Technologies had a negative return on equity of 28.23% and a negative net margin of 7.87%.The firm had revenue of $93.40 million during the quarter, compared to the consensus estimate of $166.00 million. Analysts predict that Lesaka Technologies, Inc. will post -0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LSAK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lesaka Technologies in a research report on Thursday, January 22nd. Zacks Research upgraded Lesaka Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Wall Street Zen upgraded Lesaka Technologies to a “hold” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

Institutional Investors Weigh In On Lesaka Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in LSAK. Citadel Advisors LLC raised its position in shares of Lesaka Technologies by 26.4% during the third quarter. Citadel Advisors LLC now owns 18,977 shares of the company’s stock worth $79,000 after acquiring an additional 3,959 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Lesaka Technologies during the third quarter worth $74,000. Rathbones Group PLC raised its position in shares of Lesaka Technologies by 6.6% during the fourth quarter. Rathbones Group PLC now owns 3,644,420 shares of the company’s stock worth $17,384,000 after acquiring an additional 225,000 shares during the last quarter. Potomac Capital Management Inc. bought a new stake in shares of Lesaka Technologies during the fourth quarter worth $4,766,000. Finally, Barclays PLC raised its position in shares of Lesaka Technologies by 13,359.8% during the fourth quarter. Barclays PLC now owns 141,866 shares of the company’s stock worth $677,000 after acquiring an additional 140,812 shares during the last quarter. Institutional investors own 24.19% of the company’s stock.

About Lesaka Technologies

Lesaka Technologies, Inc operates as a Fintech company that utilizes its proprietary banking and payment technologies to deliver financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. It offers cash management solutions, growth capital, card acquiring, bill payment technologies, and value-added services to formal and informal retail merchants, as well as banking, lending, and insurance solutions to consumers across Southern Africa. The company also engages in the sale of POS devices, SIM cards, and other consumables; and license of rights to use certain technology developed by the company, as well as offers related technology services.