The Manufacturers Life Insurance Company Has $1.25 Million Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

The Manufacturers Life Insurance Company raised its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 1.2% in the third quarter, Holdings Channel reports. The institutional investor owned 165,996 shares of the company’s stock after buying an additional 1,907 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Payoneer Global were worth $1,250,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Payoneer Global by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,337,156 shares of the company’s stock valued at $17,599,000 after buying an additional 67,255 shares during the last quarter. Intech Investment Management LLC bought a new position in Payoneer Global during the third quarter valued at about $458,000. Quest Partners LLC acquired a new position in Payoneer Global in the 3rd quarter valued at approximately $415,000. Royce & Associates LP lifted its position in shares of Payoneer Global by 49.3% in the 3rd quarter. Royce & Associates LP now owns 234,010 shares of the company’s stock worth $1,762,000 after acquiring an additional 77,232 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Payoneer Global in the 3rd quarter worth approximately $210,000. 82.22% of the stock is owned by institutional investors.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $10.36 on Thursday. Payoneer Global Inc. has a 52 week low of $4.22 and a 52 week high of $11.29. The stock’s 50 day moving average price is $9.51 and its two-hundred day moving average price is $7.42. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 29.60 and a beta of 0.90.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Needham & Company LLC raised their target price on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Benchmark raised their price objective 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. Keefe, Bruyette & Woods cut shares of Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 target price on the stock. in a research note on Monday. Northland Securities raised their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, December 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 report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $11.36.

Insiders Place Their Bets

In related news, CAO Itai Perry sold 3,900 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total value of $31,200.00. Following the sale, the chief accounting officer now owns 228,738 shares in the company, valued at approximately $1,829,904. This represents a 1.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tsafi Goldman sold 263,873 shares of Payoneer Global stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.10, for a total transaction of $2,665,117.30. Following the transaction, the insider now directly owns 741,748 shares of the company’s stock, valued at approximately $7,491,654.80. This trade represents a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,826,275 shares of company stock valued at $80,708,269 in the last 90 days. 5.57% of the stock is currently owned by insiders.

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.