Arrowstreet Capital Limited Partnership Buys 2,313,481 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Arrowstreet Capital Limited Partnership raised its position in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 200.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,470,347 shares of the company’s stock after purchasing an additional 2,313,481 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Payoneer Global were worth $34,842,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Payoneer Global by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,337,156 shares of the company’s stock worth $17,599,000 after buying an additional 67,255 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Payoneer Global by 1.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 165,996 shares of the company’s stock worth $1,250,000 after acquiring an additional 1,907 shares during the period. FMR LLC raised its position in shares of Payoneer Global by 17.2% in the 3rd quarter. FMR LLC now owns 1,129,312 shares of the company’s stock worth $8,504,000 after acquiring an additional 165,913 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Payoneer Global by 28.6% in the 3rd quarter. Verition Fund Management LLC now owns 142,207 shares of the company’s stock valued at $1,071,000 after purchasing an additional 31,646 shares during the period. Finally, Centiva Capital LP bought a new stake in shares of Payoneer Global during the 3rd quarter valued at about $121,000. Institutional investors own 82.22% of the company’s stock.

Payoneer Global Trading Up 1.1 %

Payoneer Global stock opened at $7.55 on Thursday. The firm’s fifty day moving average price is $9.03 and its two-hundred day moving average price is $9.31. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 2.88 and a beta of 0.97. Payoneer Global Inc. has a 1-year low of $4.69 and a 1-year high of $11.29.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $261.74 million during the quarter, compared to the consensus estimate of $242.14 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. During the same period in the previous year, the business posted $0.05 EPS. On average, research analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current year.

Insider Activity at Payoneer Global

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of Payoneer Global stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total transaction of $884,000.00. Following the transaction, the chief financial officer now directly owns 2,305,245 shares of the company’s stock, valued at $23,974,548. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PAYO shares. Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a report on Monday, February 3rd. They issued a “buy” rating and a $13.00 target price for the company. Wolfe Research downgraded shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group reduced their price target on shares of Payoneer Global from $11.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup upped their price objective on shares of Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods reduced their target price on Payoneer Global from $10.00 to $8.00 and set a “market perform” rating for the company in a research note on Monday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.36.

Payoneer Global Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.