Point72 Asset Management L.P. Grows Stake in Payoneer Global Inc. (NASDAQ:PAYO)

Point72 Asset Management L.P. increased its holdings in Payoneer Global Inc. (NASDAQ:PAYO) by 13.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 387,864 shares of the company’s stock after acquiring an additional 45,768 shares during the quarter. Point72 Asset Management L.P.’s holdings in Payoneer Global were worth $2,149,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance Inc. increased its stake in Payoneer Global by 12.1% in the 2nd quarter. Xponance Inc. now owns 17,928 shares of the company’s stock worth $99,000 after acquiring an additional 1,942 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Payoneer Global by 27.8% in the first 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 during the last quarter. Y.D. More Investments Ltd increased its position in shares of Payoneer Global by 11.7% in the second quarter. Y.D. More Investments Ltd now owns 22,142 shares of the company’s stock worth $122,000 after purchasing an additional 2,328 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in Payoneer Global by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 227,988 shares of the company’s stock valued at $1,108,000 after purchasing an additional 2,958 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in Payoneer Global by 1.9% during the first quarter. Illinois Municipal Retirement Fund now owns 160,551 shares of the company’s stock valued at $780,000 after purchasing an additional 3,028 shares during the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PAYO shares. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods raised their price target on Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Northland Securities upped their price objective on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Benchmark reissued a “buy” rating and set a $9.00 price objective on shares of Payoneer Global in a report on Thursday, August 8th. Finally, Citigroup boosted their target price on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 12th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $8.50.

Insider Buying and Selling at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 446,104 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $5.50, for a total value of $2,453,572.00. Following the transaction, the director now owns 2,122,421 shares in the company, valued at $11,673,315.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Payoneer Global news, Director Scott H. Galit sold 10,601 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $5.52, for a total value of $58,517.52. Following the completion of the sale, the director now owns 2,122,421 shares in the company, valued at approximately $11,715,763.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Scott H. Galit sold 446,104 shares of Payoneer Global stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.50, for a total value of $2,453,572.00. Following the completion of the sale, the director now owns 2,122,421 shares in the company, valued at $11,673,315.50. The disclosure for this sale can be found here. Insiders sold 1,007,005 shares of company stock valued at $5,710,192 in the last quarter. Company insiders own 5.57% of the company’s stock.

Payoneer Global Price Performance

Shares of PAYO stock opened at $7.67 on Friday. The business has a 50-day moving average of $6.91 and a 200 day moving average of $5.90. Payoneer Global Inc. has a 1-year low of $4.22 and a 1-year high of $7.73. The stock has a market capitalization of $2.86 billion, a PE ratio of 25.57 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The firm had revenue of $239.50 million during the quarter, compared to analyst estimates of $223.12 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Analysts anticipate that Payoneer Global Inc. will post 0.25 EPS for the current year.

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.