Amalgamated Bank Cuts Stock Holdings in Payoneer Global Inc. (NASDAQ:PAYO)

Amalgamated Bank cut its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 7.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,893 shares of the company’s stock after selling 6,182 shares during the period. Amalgamated Bank’s holdings in Payoneer Global were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in PAYO. Wellington Management Group LLP grew its position in shares of Payoneer Global by 68.4% in the fourth quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock valued at $40,014,000 after purchasing an additional 3,161,509 shares in the last quarter. American Century Companies Inc. lifted its holdings in Payoneer Global by 241.5% in the second quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock valued at $9,106,000 after acquiring an additional 1,162,481 shares during the last quarter. Shell Asset Management Co. acquired a new position in Payoneer Global in the first quarter valued at approximately $5,360,000. Dimensional Fund Advisors LP lifted its holdings in Payoneer Global by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock valued at $25,446,000 after acquiring an additional 849,680 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Payoneer Global by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock valued at $148,897,000 after acquiring an additional 787,509 shares during the last quarter. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

Payoneer Global Stock Performance

Shares of PAYO stock opened at $7.61 on Monday. The stock’s 50-day moving average is $6.79 and its two-hundred day moving average is $5.84. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 25.37 and a beta of 0.85. Payoneer Global Inc. has a 1 year low of $4.22 and a 1 year high of $7.73.

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

Insider Activity at Payoneer Global

In related news, Director Scott H. Galit sold 10,601 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were 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 $11,715,763.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Scott H. Galit sold 10,601 shares of Payoneer Global stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $5.52, for a total transaction of $58,517.52. Following the completion of the sale, the director now directly owns 2,122,421 shares in the company, valued at approximately $11,715,763.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the sale, the director now owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. The disclosure for this sale can be found here. Insiders sold a total of 1,537,917 shares of company stock worth $8,603,989 over the last 90 days. Company insiders own 5.57% of the company’s stock.

Analyst Upgrades and Downgrades

PAYO has been the topic of a number of recent analyst reports. Northland Securities upped their price objective on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Keefe, Bruyette & Woods upped their price objective on Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Needham & Company LLC increased their target price on Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $9.00 target price on shares of Payoneer Global in a report on Thursday, August 8th. Finally, Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Payoneer Global has a consensus rating of “Buy” and an average price target of $8.50.

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.