The Manufacturers Life Insurance Company Buys New Holdings in Payoneer Global Inc. $PAYO

The Manufacturers Life Insurance Company purchased a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 134,274 shares of the company’s stock, valued at approximately $956,000.

Other large investors have also bought and sold shares of the company. Leonteq Securities AG lifted its position in Payoneer Global by 72.0% in the first quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock valued at $31,000 after purchasing an additional 2,720 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Payoneer Global by 246.5% in the second quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after buying an additional 3,298 shares during the period. GAMMA Investing LLC increased its stake in shares of Payoneer Global by 73.8% in the second quarter. GAMMA Investing LLC now owns 5,777 shares of the company’s stock worth $41,000 after buying an additional 2,453 shares during the period. Resonant Capital Advisors LLC bought a new stake in Payoneer Global during the 1st quarter valued at $49,000. Finally, CWM LLC raised its holdings in Payoneer Global by 178.6% during the 4th quarter. CWM LLC now owns 9,384 shares of the company’s stock valued at $53,000 after buying an additional 6,016 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Stock Down 0.1%

Shares of Payoneer Global stock opened at $7.17 on Friday. The business has a 50 day moving average of $7.12 and a 200 day moving average of $5.89. Payoneer Global Inc. has a 52 week low of $4.08 and a 52 week high of $7.18. The company has a market cap of $2.43 billion, a PE ratio of 51.22, 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) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). The company had revenue of $274.26 million during the quarter, compared to the consensus estimate of $270.98 million. Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. On average, research analysts anticipate that Payoneer Global Inc. will post 0.2 earnings per share for the current year.

Insider Activity at Payoneer Global

In other news, CFO Beatrice Ordonez sold 25,000 shares of Payoneer Global 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 owned 2,887,266 shares of the company’s stock, valued at approximately $20,239,734.66. The trade was a 0.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PAYO shares. Weiss Ratings raised shares of Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Citigroup lowered shares of Payoneer Global from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $7.40 in a report on Tuesday, June 16th. Northland Securities set a $7.40 target price on Payoneer Global in a research note on Monday, June 15th. Finally, Benchmark downgraded Payoneer Global from a “buy” rating to a “hold” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.40.

About Payoneer Global

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.