Royce & Associates LP Grows Position in Payoneer Global Inc. (NASDAQ:PAYO)

Royce & Associates LP raised its holdings in Payoneer Global Inc. (NASDAQ:PAYO) by 49.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,010 shares of the company’s stock after purchasing an additional 77,232 shares during the period. Royce & Associates LP’s holdings in Payoneer Global were worth $1,762,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blue Trust Inc. grew its stake in Payoneer Global by 135.2% in the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after buying an additional 2,552 shares in the last quarter. Quarry LP purchased a new position in shares of Payoneer Global in the second quarter valued at $29,000. GAMMA Investing LLC raised its stake in shares of Payoneer Global by 438.5% during the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after purchasing an additional 4,736 shares during the period. FSC Wealth Advisors LLC purchased a new stake in Payoneer Global during the 3rd quarter worth about $68,000. Finally, Sage Rhino Capital LLC bought a new position in Payoneer Global in the 2nd quarter worth about $56,000. Institutional investors own 82.22% of the company’s stock.

Insiders Place Their Bets

In other news, insider Crossover Managemen Technology sold 7,500,000 shares of Payoneer Global stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $10.32, for a total value of $77,400,000.00. Following the transaction, the insider now owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. The trade was a 17.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott H. Galit sold 150,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the sale, the director now owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. This represents a 7.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,658,000 shares of company stock valued at $78,524,500. 5.57% of the stock is currently owned by corporate insiders.

Payoneer Global Stock Performance

Shares of NASDAQ:PAYO opened at $10.83 on Wednesday. The firm has a market capitalization of $3.86 billion, a PE ratio of 30.94 and a beta of 0.82. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $10.90. The firm has a fifty day moving average of $8.48 and a 200 day moving average of $6.88.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $248.30 million during the quarter, compared to analysts’ expectations of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 EPS. On average, sell-side analysts forecast that Payoneer Global Inc. will post 0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

PAYO has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods boosted their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Benchmark upped their price target on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group lifted their price objective on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $10.79.

About Payoneer Global

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.