Insight Wealth Strategies LLC Cuts Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

Insight Wealth Strategies LLC lowered its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 8.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 331,167 shares of the company’s stock after selling 31,924 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Payoneer Global were worth $2,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Payoneer Global in the 2nd quarter worth approximately $29,000. SageView Advisory Group LLC bought a new stake in shares of Payoneer Global in the 1st quarter worth $39,000. GAMMA Investing LLC increased its holdings in shares of Payoneer Global by 438.5% in the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock worth $44,000 after purchasing an additional 4,736 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after purchasing an additional 2,074 shares in the last quarter. Finally, Sage Rhino Capital LLC bought a new stake in shares of Payoneer Global in the 2nd quarter worth $56,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Benchmark reissued a “buy” rating and issued a $9.00 target price on shares of Payoneer Global in a report on Thursday, August 8th. Northland Securities lifted their target price on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Keefe, Bruyette & Woods lifted their target price on Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Finally, Citigroup raised their price target on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $8.64.

Payoneer Global Trading Down 0.3 %

NASDAQ PAYO traded down $0.02 on Tuesday, hitting $7.66. 128,849 shares of the company traded hands, compared to its average volume of 2,612,783. The business’s 50 day moving average price is $7.05 and its 200-day moving average price is $5.97. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $7.86. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 25.60 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The business had revenue of $239.50 million for the quarter, compared to the consensus estimate of $223.12 million. During the same period in the previous year, the business earned $0.12 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts predict that Payoneer Global Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Payoneer Global

In related news, Director Scott H. Galit sold 400,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $5.34, for a total value of $2,137,602.00. Following the completion of the sale, the director now owns 2,122,421 shares in the company, valued at approximately $11,333,728.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the sale, the director now directly owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott H. Galit sold 400,300 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $5.34, for a total value of $2,137,602.00. Following the sale, the director now directly owns 2,122,421 shares in the company, valued at $11,333,728.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 560,901 shares of company stock worth $3,256,620 over the last 90 days. Company insiders own 5.57% of the company’s stock.

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.