Gallacher Capital Management LLC Takes $171,000 Position in Payoneer Global Inc. (NASDAQ:PAYO)

Gallacher Capital Management LLC acquired a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 30,805 shares of the company’s stock, valued at approximately $171,000.

A number of other institutional investors have also recently bought and sold shares of the company. SageView Advisory Group LLC acquired a new position in Payoneer Global in the 1st quarter worth about $39,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock valued at $46,000 after buying an additional 2,074 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in Payoneer Global in the fourth quarter worth approximately $56,000. Sage Rhino Capital LLC bought a new position in Payoneer Global during the second quarter valued at approximately $56,000. Finally, Fulcrum Equity Management bought a new position in Payoneer Global during the first quarter valued at approximately $57,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Payoneer Global news, Director Scott H. Galit sold 400,300 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $5.34, for a total value of $2,137,602.00. Following the completion of the sale, the director now directly owns 2,122,421 shares of the company’s stock, valued at approximately $11,333,728.14. 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 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the sale, the director now directly owns 1,809,674 shares in the company, valued at $12,794,395.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Scott H. Galit sold 400,300 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $5.34, for a total value of $2,137,602.00. Following the completion of the transaction, the director now directly owns 2,122,421 shares of the company’s stock, valued at $11,333,728.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,890,082 shares of company stock valued at $10,516,245. 5.57% of the stock is owned by company insiders.

Payoneer Global Stock Performance

Shares of NASDAQ:PAYO opened at $7.14 on Tuesday. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $7.57. The company has a market cap of $2.73 billion, a P/E ratio of 23.80 and a beta of 0.85. The stock’s 50-day moving average is $6.21 and its 200-day moving average is $5.57.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The firm had revenue of $239.50 million for the quarter, compared to analyst estimates of $223.12 million. During the same quarter last year, the firm posted $0.12 EPS. The company’s revenue was up 15.9% on a year-over-year basis. As a group, equities analysts predict that Payoneer Global Inc. will post 0.25 EPS for the current year.

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.