Lesaka Technologies (NASDAQ:LSAK) Major Shareholder Finance Corp International Sells 32,807 Shares

Lesaka Technologies, Inc. (NASDAQ:LSAK) major shareholder Finance Corp International sold 32,807 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $5.02, for a total transaction of $164,691.14. Following the completion of the transaction, the insider directly owned 5,687,809 shares of the company’s stock, valued at approximately $28,552,801.18. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Finance Corp International also recently made the following trade(s):

• On Thursday, April 2nd, Finance Corp International sold 9,928 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.99, for a total transaction of $49,540.72.
• On Wednesday, April 1st, Finance Corp International sold 18,663 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.97, for a total value of $92,755.11.
• On Wednesday, March 25th, Finance Corp International sold 11,104 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.04, for a total value of $55,964.16.
• On Tuesday, March 24th, Finance Corp International sold 16,179 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.02, for a total value of $81,218.58.
• On Monday, March 23rd, Finance Corp International sold 2,162 shares of Lesaka Technologies stock. The shares were sold at an average price of $5.03, for a total value of $10,874.86.
• On Thursday, March 19th, Finance Corp International sold 34,607 shares of Lesaka Technologies stock. The shares were sold at an average price of $5.06, for a total value of $175,111.42.
• On Wednesday, March 18th, Finance Corp International sold 4,819 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.38, for a total value of $25,926.22.
• On Tuesday, March 17th, Finance Corp International sold 87,041 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.31, for a total value of $462,187.71.
• On Monday, March 16th, Finance Corp International sold 27,389 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.94, for a total value of $135,301.66.
• On Friday, March 13th, Finance Corp International sold 60,000 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.85, for a total value of $291,000.00.

Lesaka Technologies Price Performance

Shares of LSAK traded up $0.10 during midday trading on Thursday, hitting $5.02. 53,877 shares of the company traded hands, compared to its average volume of 88,246. Lesaka Technologies, Inc. has a one year low of $3.39 and a one year high of $5.54. The firm has a market cap of $421.28 million, a P/E ratio of -7.97 and a beta of 0.39. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.57 and a quick ratio of 1.43. The stock has a 50-day moving average of $4.71 and a 200-day moving average of $4.41.

Lesaka Technologies (NASDAQ:LSAK) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. The company had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $166.00 million. Lesaka Technologies had a negative net margin of 7.87% and a negative return on equity of 28.23%. As a group, sell-side analysts predict that Lesaka Technologies, Inc. will post -0.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on LSAK shares. Zacks Research upgraded shares of Lesaka Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Wall Street Zen upgraded Lesaka Technologies to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lesaka Technologies in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce”.

Institutional Investors Weigh In On Lesaka Technologies

A number of large investors have recently added to or reduced their stakes in the company. Rathbones Group PLC lifted its stake in Lesaka Technologies by 6.6% during the fourth quarter. Rathbones Group PLC now owns 3,644,420 shares of the company’s stock worth $17,384,000 after purchasing an additional 225,000 shares during the last quarter. Potomac Capital Management Inc. bought a new position in shares of Lesaka Technologies during the 4th quarter valued at about $4,766,000. Barclays PLC raised its holdings in shares of Lesaka Technologies by 13,359.8% during the 4th quarter. Barclays PLC now owns 141,866 shares of the company’s stock valued at $677,000 after buying an additional 140,812 shares in the last quarter. 9823 Capital L.P. bought a new stake in Lesaka Technologies in the 4th quarter worth approximately $94,000. Finally, Citadel Advisors LLC lifted its position in Lesaka Technologies by 26.4% in the 3rd quarter. Citadel Advisors LLC now owns 18,977 shares of the company’s stock worth $79,000 after buying an additional 3,959 shares during the last quarter. Hedge funds and other institutional investors own 24.19% of the company’s stock.

About Lesaka Technologies

Lesaka Technologies, Inc operates as a Fintech company that utilizes its proprietary banking and payment technologies to deliver financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. It offers cash management solutions, growth capital, card acquiring, bill payment technologies, and value-added services to formal and informal retail merchants, as well as banking, lending, and insurance solutions to consumers across Southern Africa. The company also engages in the sale of POS devices, SIM cards, and other consumables; and license of rights to use certain technology developed by the company, as well as offers related technology services.