Louisiana State Employees Retirement System Purchases Shares of 128,000 Payoneer Global Inc. $PAYO

Louisiana State Employees Retirement System acquired a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO) in the 1st quarter, Holdings Channel reports. The fund acquired 128,000 shares of the company’s stock, valued at approximately $618,000.

A number of other hedge funds have also modified their holdings of the company. Osaic Holdings Inc. raised its position in Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock valued at $33,000 after buying an additional 3,298 shares during the last quarter. CWM LLC boosted its position in Payoneer Global by 178.6% during the 4th quarter. CWM LLC now owns 9,384 shares of the company’s stock worth $53,000 after acquiring an additional 6,016 shares during the last quarter. Vident Advisory LLC bought a new position in shares of Payoneer Global during the 4th quarter worth approximately $58,000. Empowered Funds LLC bought a new position in shares of Payoneer Global during the 4th quarter worth approximately $63,000. Finally, Quarry LP raised its holdings in shares of Payoneer Global by 9,273.2% in the third quarter. Quarry LP now owns 10,498 shares of the company’s stock valued at $64,000 after purchasing an additional 10,386 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors.

Payoneer Global Price Performance

Shares of PAYO opened at $7.10 on Wednesday. The company’s 50-day moving average is $5.85 and its 200-day moving average is $5.47. The firm has a market capitalization of $2.38 billion, a PE ratio of 35.50, a PEG ratio of 0.76 and a beta of 0.95. Payoneer Global Inc. has a fifty-two week low of $4.08 and a fifty-two week high of $7.66.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $261.60 million during the quarter, compared to the consensus estimate of $255.12 million. Payoneer Global had a net margin of 6.76% and a return on equity of 11.10%. Payoneer Global’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. Analysts predict that Payoneer Global Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Beatrice Ordonez sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $7.01, for a total value of $175,250.00. Following the transaction, the chief financial officer owned 2,887,266 shares of the company’s stock, valued at approximately $20,239,734.66. This represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on PAYO. Wall Street Zen upgraded shares of Payoneer Global from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. William Blair lowered shares of Payoneer Global from an “outperform” rating to a “hold” rating in a research note on Monday, June 15th. Benchmark cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research report on Thursday, June 18th. Citigroup downgraded shares of Payoneer Global from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $7.40 in a research note on Tuesday, June 16th. Finally, Needham & Company LLC downgraded Payoneer Global from a “buy” rating to a “hold” rating in a research report on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Payoneer Global presently has an average rating of “Hold” and a consensus price target of $7.40.

Payoneer Global Profile

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.