Mutual Advisors LLC Acquires New Holdings in Pagaya Technologies Ltd. $PGY

Mutual Advisors LLC purchased a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,104 shares of the company’s stock, valued at approximately $1,095,000.

A number of other large investors also recently modified their holdings of the company. Arizona State Retirement System grew its position in Pagaya Technologies by 17.7% during the 3rd quarter. Arizona State Retirement System now owns 13,989 shares of the company’s stock worth $415,000 after acquiring an additional 2,105 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Pagaya Technologies by 315.1% in the 3rd quarter. New York State Common Retirement Fund now owns 58,941 shares of the company’s stock valued at $1,750,000 after buying an additional 44,741 shares during the last quarter. Federated Hermes Inc. boosted its position in Pagaya Technologies by 40.8% during the 3rd quarter. Federated Hermes Inc. now owns 600,140 shares of the company’s stock worth $17,818,000 after buying an additional 174,033 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in Pagaya Technologies during the 3rd quarter worth approximately $2,494,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Pagaya Technologies during the 3rd quarter worth approximately $98,000. 57.14% of the stock is currently owned by institutional investors.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 7,561 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $30.73, for a total value of $232,349.53. Following the transaction, the insider owned 37,544 shares in the company, valued at approximately $1,153,727.12. This represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Sanjiv Das sold 3,945 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $90,695.55. Following the completion of the sale, the president directly owned 129,986 shares of the company’s stock, valued at $2,988,378.14. This trade represents a 2.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,256 shares of company stock valued at $547,198 in the last 90 days. 47.59% of the stock is currently owned by corporate insiders.

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $18.14 on Thursday. The firm has a 50 day moving average of $22.63 and a 200-day moving average of $28.11. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -6.79 and a beta of 5.85. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 1.16. Pagaya Technologies Ltd. has a 52 week low of $8.50 and a 52 week high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Monday, November 10th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.46. Pagaya Technologies had a negative net margin of 15.32% and a positive return on equity of 31.59%. The business had revenue of $350.17 million for the quarter, compared to analyst estimates of $338.86 million. During the same period in the prior year, the firm earned $0.44 earnings per share. Pagaya Technologies’s revenue was up 36.3% on a year-over-year basis. On average, equities analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Analysts Set New Price Targets

PGY has been the subject of several analyst reports. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday. Freedom Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Tuesday. Canaccord Genuity Group lifted their target price on Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Keefe, Bruyette & Woods decreased their price target on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, January 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.25.

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.