Legal & General Group Plc Purchases New Shares in Payoneer Global Inc. $PAYO

Legal & General Group Plc acquired a new stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 641,383 shares of the company’s stock, valued at approximately $4,567,000. Legal & General Group Plc owned 0.19% of Payoneer Global at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PAYO. BlackRock Inc. purchased a new stake in Payoneer Global in the second quarter worth about $278,076,000. Invesco Ltd. lifted its position in Payoneer Global by 137.3% during the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock valued at $38,104,000 after buying an additional 3,218,917 shares during the period. Bank of New York Mellon Corp bought a new stake in Payoneer Global during the second quarter worth about $10,549,000. Allspring Global Investments Holdings LLC raised its stake in Payoneer Global by 2,061.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,013,014 shares of the company’s stock valued at $4,893,000 after buying an additional 966,146 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Payoneer Global by 238.5% in the 4th quarter. Marshall Wace LLP now owns 1,362,962 shares of the company’s stock worth $7,660,000 after purchasing an additional 960,371 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PAYO shares. Citigroup downgraded shares of Payoneer Global from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $7.40 in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods lowered shares of Payoneer Global from a “moderate buy” rating to a “hold” rating in a report on Monday, June 15th. Northland Securities set a $7.40 price objective on Payoneer Global in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft cut Payoneer Global from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Weiss Ratings raised Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.40.

Payoneer Global Stock Up 0.8%

PAYO stock opened at $7.18 on Friday. The business’s 50-day moving average price is $7.11 and its 200-day moving average price is $5.88. The stock has a market cap of $2.43 billion, a P/E ratio of 51.29, a PEG ratio of 1.49 and a beta of 0.94. Payoneer Global Inc. has a twelve month low of $4.08 and a twelve month high of $7.18.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.The firm had revenue of $274.26 million for the quarter, compared to the consensus estimate of $270.98 million. During the same quarter in the previous year, the business posted $0.05 EPS. Payoneer Global’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts expect that Payoneer Global Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Payoneer Global

In related news, CFO Beatrice Ordonez sold 25,000 shares of Payoneer Global stock in a transaction on Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the transaction, the chief financial officer owned 2,887,266 shares in the company, valued at approximately $20,239,734.66. The trade was a 0.86% decrease in their position. The transaction was disclosed in a filing 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. Company insiders own 2.06% of the company’s stock.

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.