SPX Gestao de Recursos Ltda Invests $1.48 Million in Pagaya Technologies Ltd. $PGY

SPX Gestao de Recursos Ltda bought a new position in Pagaya Technologies Ltd. (NASDAQ:PGY) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $1,484,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in Pagaya Technologies by 26.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after acquiring an additional 359,099 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Pagaya Technologies by 436.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,385,279 shares of the company’s stock valued at $29,534,000 after purchasing an additional 1,127,242 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after purchasing an additional 961,944 shares during the period. BNP Paribas Financial Markets raised its holdings in Pagaya Technologies by 1,231.6% in the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock valued at $25,591,000 after buying an additional 1,110,208 shares during the period. Finally, American Century Companies Inc. lifted its position in Pagaya Technologies by 113.1% during the third quarter. American Century Companies Inc. now owns 1,094,799 shares of the company’s stock valued at $32,505,000 after buying an additional 581,017 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Insider Activity

In related news, CFO Evangelos Perros sold 9,750 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $22.99, for a total value of $224,152.50. Following the completion of the transaction, the chief financial officer owned 100,212 shares of the company’s stock, valued at approximately $2,303,873.88. This represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Tami Rosen sold 7,561 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $30.73, for a total value of $232,349.53. Following the sale, the insider owned 37,544 shares of the company’s stock, valued at approximately $1,153,727.12. This trade represents a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,256 shares of company stock worth $547,198 over the last ninety days. Corporate insiders own 47.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group dropped their price objective on shares of Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Jefferies Financial Group reduced their target price on shares of Pagaya Technologies from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Keefe, Bruyette & Woods lowered their price target on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, January 2nd. Freedom Capital raised Pagaya Technologies to a “strong-buy” rating in a research report on Tuesday, February 3rd. Finally, Benchmark decreased their target price on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.11.

Pagaya Technologies Price Performance

Shares of PGY stock opened at $11.49 on Friday. The firm has a fifty day simple moving average of $17.85 and a 200-day simple moving average of $25.26. The company has a market capitalization of $923.80 million, a PE ratio of 12.91 and a beta of 5.92. Pagaya Technologies Ltd. has a twelve month low of $8.50 and a twelve month high of $44.99. The company has a current ratio of 10.55, a quick ratio of 11.41 and a debt-to-equity ratio of 1.22.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Monday, February 9th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.05. Pagaya Technologies had a net margin of 6.25% and a return on equity of 44.24%. The firm had revenue of $334.81 million for the quarter, compared to the consensus estimate of $348.75 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. Equities research analysts anticipate that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.