Insider Selling: Lesaka Technologies (NASDAQ:LSAK) Major Shareholder Sells $164,691.14 in Stock

Lesaka Technologies, Inc. (NASDAQ:LSAK) major shareholder Finance Corp International sold 32,807 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $5.02, for a total transaction of $164,691.14. Following the sale, the insider owned 5,687,809 shares of the company’s stock, valued at approximately $28,552,801.18. This represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 transaction of $49,540.72.
• On Wednesday, April 1st, Finance Corp International sold 18,663 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.97, for a total transaction of $92,755.11.
• On Wednesday, March 25th, Finance Corp International sold 11,104 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.04, for a total value of $55,964.16.
• On Tuesday, March 24th, Finance Corp International sold 16,179 shares of Lesaka Technologies stock. The shares were sold at an average price of $5.02, for a total value of $81,218.58.
• On Monday, March 23rd, Finance Corp International sold 2,162 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.03, for a total value of $10,874.86.
• On Thursday, March 19th, Finance Corp International sold 34,607 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.06, for a total value of $175,111.42.
• On Wednesday, March 18th, Finance Corp International sold 4,819 shares of Lesaka Technologies stock. The shares were sold at an average price of $5.38, for a total value of $25,926.22.
• On Tuesday, March 17th, Finance Corp International sold 87,041 shares of Lesaka Technologies stock. The shares were sold at an average price of $5.31, for a total value of $462,187.71.
• On Monday, March 16th, Finance Corp International sold 27,389 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.94, for a total value of $135,301.66.
• On Friday, March 13th, Finance Corp International sold 60,000 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.85, for a total value of $291,000.00.

Lesaka Technologies Stock Performance

Shares of Lesaka Technologies stock opened at $5.02 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.43 and a current ratio of 1.57. The firm has a 50-day moving average of $4.72 and a 200-day moving average of $4.42. Lesaka Technologies, Inc. has a 52-week low of $3.39 and a 52-week high of $5.54. The stock has a market cap of $421.28 million, a PE ratio of -7.97 and a beta of 0.39.

Lesaka Technologies (NASDAQ:LSAK) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. Lesaka Technologies had a negative net margin of 7.87% and a negative return on equity of 28.23%. The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $166.00 million. As a group, sell-side analysts forecast that Lesaka Technologies, Inc. will post -0.16 EPS for the current year.

Institutional Trading of Lesaka Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP acquired a new stake in shares of Lesaka Technologies during the 3rd quarter worth approximately $74,000. Citadel Advisors LLC lifted its stake in 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 purchasing an additional 3,959 shares during the last quarter. 9823 Capital L.P. bought a new stake in Lesaka Technologies during the fourth quarter worth $94,000. Barclays PLC boosted its holdings in shares of Lesaka Technologies by 13,359.8% in the 4th quarter. Barclays PLC now owns 141,866 shares of the company’s stock valued at $677,000 after purchasing an additional 140,812 shares in the last quarter. Finally, Potomac Capital Management Inc. acquired a new stake in shares of Lesaka Technologies in the 4th quarter valued at $4,766,000. Institutional investors own 24.19% of the company’s stock.

Analyst Ratings Changes

LSAK has been the subject of several recent research reports. Wall Street Zen upgraded Lesaka Technologies to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Lesaka Technologies in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded Lesaka Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Lesaka Technologies Company Profile

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.