Wedge Capital Management L L P NC Invests $1.51 Million in Payoneer Global Inc. (NASDAQ:PAYO)

Wedge Capital Management L L P NC bought a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO) in the third quarter, Holdings Channel.com reports. The fund bought 200,452 shares of the company’s stock, valued at approximately $1,509,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis bought a new position in shares of Payoneer Global in the 1st quarter worth about $3,106,000. Tidal Investments LLC bought a new stake in Payoneer Global in the first quarter worth approximately $986,000. Janus Henderson Group PLC lifted its stake in Payoneer Global by 131.6% in the first quarter. Janus Henderson Group PLC now owns 358,940 shares of the company’s stock valued at $1,744,000 after buying an additional 203,943 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Payoneer Global by 17.1% during the 2nd quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock worth $24,475,000 after buying an additional 645,887 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Payoneer Global by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 53,333 shares of the company’s stock valued at $259,000 after acquiring an additional 3,730 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Stock Up 0.9 %

PAYO stock opened at $8.10 on Thursday. Payoneer Global Inc. has a twelve month low of $4.22 and a twelve month high of $8.11. The stock’s 50 day moving average is $7.37 and its 200-day moving average is $6.11. The firm has a market capitalization of $3.02 billion, a PE ratio of 27.00 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last posted its earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share 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 company had revenue of $239.50 million for the quarter, compared to analyst estimates of $223.12 million. During the same quarter last year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts anticipate that Payoneer Global Inc. will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on PAYO. Needham & Company LLC raised their price target on shares of Payoneer Global from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods upped their price target on Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Citigroup increased their price target on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Northland Securities increased their price target on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $8.79.

Insider Activity

In other news, CAO Itai Perry sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total value of $31,200.00. Following the transaction, the chief accounting officer now owns 228,738 shares in the company, valued at $1,829,904. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Itai Perry sold 3,900 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total transaction of $31,200.00. Following the completion of the sale, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott H. Galit sold 150,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the sale, the director now directly owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,000 shares of company stock worth $1,124,500 over the last 90 days. 5.57% of the stock is currently owned by corporate 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.