Themes Management Co LLC Makes New Investment in Pagaya Technologies Ltd. $PGY

Themes Management Co LLC acquired a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 44,300 shares of the company’s stock, valued at approximately $516,000.

Other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP increased its stake in shares of Pagaya Technologies by 182.7% in the first quarter. Entropy Technologies LP now owns 71,065 shares of the company’s stock worth $828,000 after buying an additional 45,926 shares during the period. State of Wyoming raised its holdings in Pagaya Technologies by 150.3% during the 1st quarter. State of Wyoming now owns 6,532 shares of the company’s stock valued at $76,000 after buying an additional 3,922 shares during the last quarter. Cetera Investment Advisers boosted its position in Pagaya Technologies by 98.6% during the 1st quarter. Cetera Investment Advisers now owns 24,016 shares of the company’s stock valued at $280,000 after buying an additional 11,921 shares during the period. Meeder Asset Management Inc. boosted its position in Pagaya Technologies by 1,274.8% during the 1st quarter. Meeder Asset Management Inc. now owns 7,080 shares of the company’s stock valued at $82,000 after buying an additional 6,565 shares during the period. Finally, SPX Gestao de Recursos Ltda grew its holdings in Pagaya Technologies by 49.7% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 180,100 shares of the company’s stock worth $2,098,000 after acquiring an additional 59,800 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $15.89 on Friday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 14.85 and a beta of 5.32. The stock has a fifty day moving average of $15.80 and a 200 day moving average of $15.28. Pagaya Technologies Ltd. has a 52 week low of $10.40 and a 52 week high of $44.99. The company has a quick ratio of 12.09, a current ratio of 12.09 and a debt-to-equity ratio of 1.25.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. The company had revenue of $91.63 million for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. As a group, research analysts expect that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Insider Transactions at Pagaya Technologies

In related news, insider Evangelos Perros sold 11,558 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $16.23, for a total transaction of $187,586.34. Following the transaction, the insider owned 131,241 shares in the company, valued at $2,130,041.43. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tami Rosen sold 9,944 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $15.20, for a total transaction of $151,148.80. Following the completion of the transaction, the director directly owned 37,544 shares of the company’s stock, valued at approximately $570,668.80. The trade was a 20.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 58,090 shares of company stock worth $923,764. 41.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PGY. Canaccord Genuity Group restated a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a research report on Monday, May 18th. Zacks Research lowered shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Finally, Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $35.86.

Pagaya Technologies Company Profile

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.