Gabelli Funds LLC Sells 10,000 Shares of Paysafe Limited (NYSE:PSFE)

Gabelli Funds LLC lessened its holdings in Paysafe Limited (NYSE:PSFE) by 6.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 142,500 shares of the company’s stock after selling 10,000 shares during the period. Gabelli Funds LLC owned 0.23% of Paysafe worth $2,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Cannae Holdings Inc. raised its position in shares of Paysafe by 92.9% in the first quarter. Cannae Holdings Inc. now owns 3,379,887 shares of the company’s stock valued at $53,368,000 after purchasing an additional 1,628,183 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Paysafe by 24.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,633,280 shares of the company’s stock worth $28,876,000 after purchasing an additional 324,207 shares during the period. Acadian Asset Management LLC acquired a new stake in Paysafe during the 2nd quarter worth approximately $3,702,000. CastleKnight Management LP lifted its holdings in Paysafe by 631.6% during the 4th quarter. CastleKnight Management LP now owns 112,241 shares of the company’s stock worth $1,436,000 after purchasing an additional 96,900 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Paysafe by 39.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 302,765 shares of the company’s stock valued at $4,781,000 after purchasing an additional 85,170 shares during the period. Institutional investors and hedge funds own 54.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their target price on Paysafe from $16.20 to $19.00 and gave the stock an “underperform” rating in a report on Tuesday, August 27th. Royal Bank of Canada lifted their price objective on shares of Paysafe from $20.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 14th. Susquehanna increased their target price on shares of Paysafe from $16.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, UBS Group lifted their price target on shares of Paysafe from $16.50 to $17.00 and gave the company a “sell” rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paysafe currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Paysafe Price Performance

PSFE stock opened at $21.73 on Thursday. The company’s 50-day moving average price is $21.24 and its two-hundred day moving average price is $18.20. The firm has a market cap of $1.32 billion, a P/E ratio of -98.77, a P/E/G ratio of 0.57 and a beta of 1.92. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 2.83. Paysafe Limited has a 12 month low of $9.25 and a 12 month high of $23.50.

Paysafe (NYSE:PSFE) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.07). Paysafe had a negative net margin of 0.78% and a positive return on equity of 14.42%. The firm had revenue of $439.92 million for the quarter, compared to analyst estimates of $428.40 million. On average, analysts anticipate that Paysafe Limited will post 1.92 earnings per share for the current fiscal year.

About Paysafe

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.