Carmignac Gestion Makes New $3.04 Million Investment in Payoneer Global Inc. $PAYO

Carmignac Gestion purchased a new stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 426,354 shares of the company’s stock, valued at approximately $3,036,000. Carmignac Gestion owned about 0.13% of Payoneer Global at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PAYO. Leonteq Securities AG raised its stake in Payoneer Global by 72.0% during the first quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock worth $31,000 after purchasing an additional 2,720 shares during the period. Osaic Holdings Inc. grew its stake in shares of Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock valued at $33,000 after buying an additional 3,298 shares during the period. Nykredit A S acquired a new stake in shares of Payoneer Global during the 2nd quarter worth approximately $39,000. GAMMA Investing LLC raised its position in shares of Payoneer Global by 73.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,777 shares of the company’s stock valued at $41,000 after buying an additional 2,453 shares during the period. Finally, Resonant Capital Advisors LLC purchased a new stake in shares of Payoneer Global during the 1st quarter valued at approximately $49,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PAYO. Northland Securities set a $7.40 target price on Payoneer Global in a research note on Monday, June 15th. William Blair lowered Payoneer Global from an “outperform” rating to a “hold” rating in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft cut Payoneer Global from a “buy” rating to a “hold” rating in a report on Friday, August 7th. Keefe, Bruyette & Woods downgraded Payoneer Global from a “moderate buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Citigroup lowered shares of Payoneer Global from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $7.40 in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.40.

Insiders Place Their Bets

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer directly owned 2,887,266 shares in the company, valued at $20,239,734.66. This represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is currently owned by corporate insiders.

Payoneer Global Stock Down 0.6%

NASDAQ PAYO traded down $0.04 on Tuesday, reaching $7.13. The stock had a trading volume of 2,157,689 shares, compared to its average volume of 5,124,208. The stock has a fifty day moving average price of $7.12 and a two-hundred day moving average price of $5.90. Payoneer Global Inc. has a 12-month low of $4.08 and a 12-month high of $7.18. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 50.93, a P/E/G ratio of 1.50 and a beta of 0.94.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.07). Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.The firm had revenue of $274.26 million for the quarter, compared to analysts’ expectations of $270.98 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Payoneer Global Inc. will post 0.2 earnings per share for the current fiscal year.

Payoneer Global Company Profile

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.