Fmr LLC Cuts Stake in Paysafe Limited (NYSE:PSFE)

Fmr LLC decreased its holdings in Paysafe Limited (NYSE:PSFE) by 43.8% in the third quarter, Holdings Channel reports. The firm owned 1,901 shares of the company’s stock after selling 1,480 shares during the period. Fmr LLC’s holdings in Paysafe were worth $43,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd acquired a new stake in Paysafe during the 3rd quarter worth about $176,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Paysafe in the second quarter valued at about $222,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Paysafe in the third quarter worth about $225,000. SG Americas Securities LLC lifted its holdings in shares of Paysafe by 107.7% during the third quarter. SG Americas Securities LLC now owns 13,149 shares of the company’s stock worth $295,000 after purchasing an additional 6,817 shares during the period. Finally, Sei Investments Co. purchased a new stake in Paysafe in the second quarter valued at approximately $325,000. 54.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PSFE shares. Susquehanna cut their price objective on shares of Paysafe from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Royal Bank of Canada cut their price target on Paysafe from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Paysafe has an average rating of “Hold” and a consensus target price of $19.40.

Paysafe Stock Performance

NYSE PSFE opened at $17.46 on Thursday. The company has a market cap of $1.06 billion, a PE ratio of -45.95, a price-to-earnings-growth ratio of 0.61 and a beta of 1.86. The stock’s 50 day simple moving average is $20.05 and its 200-day simple moving average is $20.29. Paysafe Limited has a 1-year low of $11.94 and a 1-year high of $26.25. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.14 and a quick ratio of 1.14.

About Paysafe

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.