Quantinno Capital Management LP Buys 60,418 Shares of Pagaya Technologies Ltd. $PGY

Quantinno Capital Management LP raised its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 357.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 77,324 shares of the company’s stock after acquiring an additional 60,418 shares during the period. Quantinno Capital Management LP’s holdings in Pagaya Technologies were worth $901,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PGY. SPX Gestao de Recursos Ltda boosted its holdings in Pagaya Technologies by 49.7% in the first quarter. SPX Gestao de Recursos Ltda now owns 180,100 shares of the company’s stock valued at $2,098,000 after acquiring an additional 59,800 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Pagaya Technologies during the 1st quarter valued at approximately $1,426,000. Watershed Asset Management L.L.C. bought a new position in Pagaya Technologies during the 1st quarter worth approximately $463,000. Q Global Advisors LLC raised its holdings in Pagaya Technologies by 324.8% during the 1st quarter. Q Global Advisors LLC now owns 537,551 shares of the company’s stock worth $6,262,000 after purchasing an additional 410,996 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Pagaya Technologies in the 1st quarter worth approximately $452,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

Insider Transactions at Pagaya Technologies

In other news, Director Tami Rosen sold 28,181 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $21.98, for a total transaction of $619,418.38. Following the transaction, the director owned 16,665 shares of the company’s stock, valued at $366,296.70. This represents a 62.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Sanjiv Das sold 21,289 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $22.00, for a total transaction of $468,358.00. Following the transaction, the president directly owned 144,186 shares in the company, valued at $3,172,092. This trade represents a 12.87% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 107,560 shares of company stock valued at $2,011,541. 41.99% of the stock is owned by insiders.

Pagaya Technologies Price Performance

Pagaya Technologies stock opened at $21.56 on Monday. The company has a market capitalization of $1.80 billion, a PE ratio of 15.85 and a beta of 5.33. Pagaya Technologies Ltd. has a 12-month low of $10.40 and a 12-month high of $44.99. The firm’s fifty day moving average is $17.65 and its 200 day moving average is $14.90. The company has a quick ratio of 11.08, a current ratio of 11.08 and a debt-to-equity ratio of 1.12.

Analyst Upgrades and Downgrades

PGY has been the topic of a number of analyst reports. B. Riley Financial upped their price objective on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Citizens Jmp lifted their target price on shares of Pagaya Technologies from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, July 31st. Canaccord Genuity Group boosted their target price on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Texas Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Pagaya Technologies has a consensus rating of “Buy” and a consensus target price of $32.43.

Pagaya Technologies 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.