Deerfield Management Company L.P. Series C Purchases 78,239 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Deerfield Management Company L.P. Series C lifted its position in Payoneer Global Inc. (NASDAQ:PAYO) by 489.8% in the second quarter, Holdings Channel.com reports. The firm owned 94,213 shares of the company’s stock after purchasing an additional 78,239 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Payoneer Global were worth $522,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Payoneer Global by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock worth $148,897,000 after purchasing an additional 787,509 shares during the period. AXA S.A. increased its holdings in shares of Payoneer Global by 1,394.5% in the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after buying an additional 13,227,884 shares during the period. Wellington Management Group LLP lifted its stake in shares of Payoneer Global by 68.4% in the 4th quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock valued at $40,014,000 after acquiring an additional 3,161,509 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Payoneer Global by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock valued at $23,283,000 after acquiring an additional 178,842 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Payoneer Global by 22.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock worth $25,446,000 after acquiring an additional 849,680 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors.

Payoneer Global Trading Down 0.7 %

Shares of Payoneer Global stock opened at $7.61 on Friday. Payoneer Global Inc. has a 12-month low of $4.22 and a 12-month high of $7.73. The company has a market cap of $2.84 billion, a P/E ratio of 25.37 and a beta of 0.85. The company’s fifty day simple moving average is $6.79 and its two-hundred day simple moving average is $5.82.

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

Insider Transactions at Payoneer Global

In related news, Director Scott H. Galit sold 400,300 shares of Payoneer Global stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $5.34, for a total transaction 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Scott H. Galit sold 400,300 shares of Payoneer Global stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $5.34, for a total transaction of $2,137,602.00. Following the completion of the transaction, the director now directly owns 2,122,421 shares of the company’s stock, valued at approximately $11,333,728.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Scott H. Galit sold 390,000 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $5.44, for a total transaction of $2,121,600.00. Following the completion of the sale, the director now owns 2,122,421 shares in the company, valued at approximately $11,545,970.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,890,082 shares of company stock valued at $10,516,245. Corporate insiders own 5.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PAYO. Northland Securities lifted their price target on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods increased their price target on shares of Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $9.00 price objective on shares of Payoneer Global in a research report on Thursday, August 8th. Finally, Citigroup upped their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the company 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 given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $8.50.

Payoneer Global Company 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.