Geode Capital Management LLC Lowers Stock Position in Paysafe Limited (NYSE:PSFE)

Geode Capital Management LLC reduced its position in shares of Paysafe Limited (NYSE:PSFE) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 390,286 shares of the company’s stock after selling 1,370 shares during the period. Geode Capital Management LLC’s holdings in Paysafe were worth $8,754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new position in shares of Paysafe during the 3rd quarter worth approximately $176,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Paysafe during the second quarter valued at approximately $222,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Paysafe during the third quarter valued at approximately $225,000. Verition Fund Management LLC bought a new stake in Paysafe during the third quarter worth $254,000. Finally, SG Americas Securities LLC boosted its position in Paysafe by 107.7% in 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 last quarter. 54.39% of the stock is currently owned by hedge funds and other institutional investors.

Paysafe Trading Up 1.2 %

Shares of PSFE opened at $17.31 on Friday. Paysafe Limited has a fifty-two week low of $11.94 and a fifty-two week high of $26.25. The business has a 50-day moving average of $19.54 and a 200 day moving average of $20.26. The firm has a market cap of $1.05 billion, a P/E ratio of -45.55, a price-to-earnings-growth ratio of 0.61 and a beta of 1.86. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.14 and a current ratio of 1.14.

Analyst Ratings Changes

PSFE has been the topic of a number of recent analyst reports. Susquehanna lowered their target price on 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 lowered their price objective on shares of 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 analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paysafe presently has a consensus rating of “Hold” and a consensus target price of $19.40.

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.