Sage Rhino Capital LLC Takes $56,000 Position in Payoneer Global Inc. (NASDAQ:PAYO)

Sage Rhino Capital LLC bought a new stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,022 shares of the company’s stock, valued at approximately $56,000.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Payoneer Global by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock worth $148,897,000 after purchasing an additional 787,509 shares during the last quarter. Wellington Management Group LLP raised its stake 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 buying an additional 3,161,509 shares during the period. Victory Capital Management Inc. raised its stake in shares of Payoneer Global by 6.0% in the fourth quarter. Victory Capital Management Inc. now owns 5,618,682 shares of the company’s stock valued at $29,273,000 after buying an additional 320,108 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Payoneer Global by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock valued at $23,283,000 after buying an additional 178,842 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Payoneer Global by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,084,799 shares of the company’s stock valued at $10,862,000 after buying an additional 9,660 shares during the period. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PAYO. Keefe, Bruyette & Woods boosted their target price on Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $9.00 price objective on shares of Payoneer Global in a research note on Thursday, August 8th. Needham & Company LLC boosted their price objective on Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Citigroup boosted their price objective on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.25.

Payoneer Global Price Performance

PAYO opened at $7.43 on Friday. The stock’s 50 day simple moving average is $6.02 and its 200 day simple moving average is $5.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 1.09. Payoneer Global Inc. has a 1 year low of $4.22 and a 1 year high of $7.57. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 24.77 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. The business had revenue of $239.50 million for the quarter, compared to analyst estimates of $223.12 million. During the same period last year, the company earned $0.12 EPS. Payoneer Global’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, analysts predict that Payoneer Global Inc. will post 0.23 earnings per share for the current year.

Insider Transactions at Payoneer Global

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 stock was sold at an average price of $5.52, for a total value of $58,517.52. Following the sale, the director now directly owns 2,122,421 shares in the company, valued at approximately $11,715,763.92. The sale was disclosed in a filing with the SEC, which is available through this link. 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 stock was sold at an average price of $5.52, for a total value of $58,517.52. Following the sale, the director now directly owns 2,122,421 shares in the company, valued at approximately $11,715,763.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott H. Galit sold 446,104 shares of Payoneer Global stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.50, for a total value of $2,453,572.00. Following the completion of the sale, the director now owns 2,122,421 shares in the company, valued at $11,673,315.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,904,155 shares of company stock worth $10,598,009. 5.57% of the stock is currently owned by insiders.

Payoneer Global Profile

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.