Algert Global LLC Trims Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

Algert Global LLC lessened its position in Payoneer Global Inc. (NASDAQ:PAYO) by 22.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,607 shares of the company’s stock after selling 51,180 shares during the period. Algert Global LLC’s holdings in Payoneer Global were worth $1,368,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its position in shares of Payoneer Global by 135.2% in the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after buying an additional 2,552 shares during the last quarter. Quarry LP acquired a new position in shares of Payoneer Global in the second quarter valued at approximately $29,000. GAMMA Investing LLC raised its position in shares of Payoneer Global by 438.5% in the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after buying an additional 4,736 shares during the last quarter. FSC Wealth Advisors LLC acquired a new position in shares of Payoneer Global in the third quarter valued at approximately $68,000. Finally, Sage Rhino Capital LLC acquired a new position in shares of Payoneer Global in the second quarter valued at approximately $56,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

Insider Activity

In other news, insider Crossover Managemen Technology sold 7,500,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $10.32, for a total value of $77,400,000.00. Following the completion of the transaction, the insider now directly owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. This represents a 17.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Itai Perry sold 4,100 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total transaction of $32,800.00. Following the completion of the transaction, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at $1,829,904. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,562,402 shares of company stock worth $78,043,152. 5.57% of the stock is currently owned by company insiders.

Payoneer Global Stock Down 1.6 %

Payoneer Global stock opened at $10.87 on Friday. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $11.29. The firm has a fifty day moving average of $8.90 and a 200-day moving average of $7.09. The firm has a market capitalization of $3.88 billion, a P/E ratio of 31.06 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. On average, research analysts expect that Payoneer Global Inc. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PAYO has been the subject of a number of analyst reports. Benchmark boosted their price objective on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Northland Securities upped their price target on shares of Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group upped their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Needham & Company LLC upped their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $10.79.

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.