Jane Street Group LLC Reduces Stock Position in Paysign, Inc. (NASDAQ:PAYS)

Jane Street Group LLC reduced its position in shares of Paysign, Inc. (NASDAQ:PAYS) by 67.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,128 shares of the company’s stock after selling 32,800 shares during the period. Jane Street Group LLC’s holdings in Paysign were worth $59,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Paysign by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 85,964 shares of the company’s stock worth $371,000 after purchasing an additional 4,248 shares during the period. Rhumbline Advisers boosted its holdings in shares of Paysign by 25.1% during the second quarter. Rhumbline Advisers now owns 35,835 shares of the company’s stock worth $154,000 after purchasing an additional 7,190 shares during the period. Algert Global LLC purchased a new stake in shares of Paysign during the second quarter worth about $46,000. SG Americas Securities LLC purchased a new stake in shares of Paysign during the third quarter worth about $43,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Paysign during the second quarter worth about $66,000. 25.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Paysign

In related news, insider Topline Capital Management, Ll sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $3.24, for a total value of $388,800.00. Following the completion of the transaction, the insider now directly owns 5,336,146 shares in the company, valued at $17,289,113.04. The trade was a 2.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Newcomer sold 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $3.66, for a total transaction of $131,760.00. Following the completion of the transaction, the chief executive officer now owns 9,336,886 shares of the company’s stock, valued at approximately $34,173,002.76. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 943,447 shares of company stock valued at $3,050,294 in the last ninety days. 23.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PAYS. Barrington Research reiterated an “outperform” rating and set a $7.00 target price on shares of Paysign in a report on Monday, November 4th. Lake Street Capital initiated coverage on Paysign in a research report on Friday, December 20th. They set a “buy” rating and a $6.00 price objective on the stock.

Paysign Stock Down 5.5 %

Shares of PAYS opened at $3.07 on Thursday. The business’s 50 day moving average price is $3.25 and its 200-day moving average price is $3.94. Paysign, Inc. has a 52 week low of $2.48 and a 52 week high of $5.59. The stock has a market cap of $164.39 million, a P/E ratio of 20.47 and a beta of 0.95.

Paysign (NASDAQ:PAYS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Paysign had a return on equity of 30.64% and a net margin of 14.28%. The firm had revenue of $15.26 million for the quarter, compared to analysts’ expectations of $14.96 million. During the same period in the previous year, the firm posted $0.02 EPS. On average, equities analysts anticipate that Paysign, Inc. will post 0.21 EPS for the current year.

About Paysign

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.