Renaissance Technologies LLC Sells 576,307 Shares of Payoneer Global Inc. $PAYO

Renaissance Technologies LLC reduced its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 19.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,432,300 shares of the company’s stock after selling 576,307 shares during the quarter. Renaissance Technologies LLC owned 0.71% of Payoneer Global worth $11,748,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Payoneer Global by 1.8% during the 4th quarter. State Street Corp now owns 10,772,088 shares of the company’s stock worth $60,539,000 after purchasing an additional 195,410 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Payoneer Global by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,436,470 shares of the company’s stock valued at $58,654,000 after buying an additional 182,614 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Payoneer Global by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,544,420 shares of the company’s stock valued at $36,438,000 after buying an additional 263,030 shares during the period. Invesco Ltd. lifted its stake in shares of Payoneer Global by 137.3% in 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. Finally, Bank of America Corp DE grew its position in Payoneer Global by 9.3% during the third quarter. Bank of America Corp DE now owns 3,419,039 shares of the company’s stock worth $20,685,000 after buying an additional 289,598 shares in the last quarter. 82.22% of the stock is owned by institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research firms have commented on PAYO. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $7.40 price target on shares of Payoneer Global in a report on Tuesday, June 16th. Citigroup lowered Payoneer Global from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $10.00 to $7.40 in a report on Tuesday, June 16th. Weiss Ratings upgraded Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 25th. Benchmark lowered Payoneer Global from a “buy” rating to a “hold” rating in a research note on Thursday, June 18th. Finally, Northland Securities set a $7.40 target price on Payoneer Global in a research note 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 MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.40.

Payoneer Global Trading Up 0.1%

PAYO stock opened at $7.17 on Friday. Payoneer Global Inc. has a 1-year low of $4.08 and a 1-year high of $7.66. The business’s 50 day moving average is $6.62 and its 200-day moving average is $5.66. The firm has a market cap of $2.40 billion, a P/E ratio of 35.85, a P/E/G ratio of 0.81 and a beta of 0.95.

Payoneer Global (NASDAQ:PAYO) last posted 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 return on equity of 11.10% and a net margin of 6.76%.Payoneer Global’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. Sell-side analysts forecast that Payoneer Global Inc. will post 0.26 EPS for the current year.

Payoneer Global Company 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.