Pagaya Technologies Ltd. $PGY Stake Lifted by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC boosted its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 81.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,459 shares of the company’s stock after buying an additional 53,011 shares during the period. Segall Bryant & Hamill LLC owned 0.14% of Pagaya Technologies worth $1,380,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Edgestream Partners L.P. grew its position in shares of Pagaya Technologies by 353.2% during the first quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock worth $4,354,000 after acquiring an additional 291,291 shares during the last quarter. Royal Bank of Canada lifted its position in Pagaya Technologies by 134.6% in the 1st quarter. Royal Bank of Canada now owns 35,940 shares of the company’s stock valued at $419,000 after purchasing an additional 20,623 shares during the last quarter. Empowered Funds LLC boosted its stake in Pagaya Technologies by 4,562.7% during the 1st quarter. Empowered Funds LLC now owns 116,661 shares of the company’s stock valued at $1,359,000 after purchasing an additional 114,159 shares during the period. The Manufacturers Life Insurance Company grew its position in Pagaya Technologies by 5.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company’s stock worth $176,000 after purchasing an additional 776 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Pagaya Technologies by 357.4% during the first quarter. Quantinno Capital Management LP now owns 77,324 shares of the company’s stock valued at $901,000 after buying an additional 60,418 shares during the last quarter. 57.14% of the stock is currently owned by institutional investors.

Insider Activity at Pagaya Technologies

In other news, insider Evangelos Perros sold 11,558 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $16.23, for a total value of $187,586.34. Following the sale, the insider owned 131,241 shares of the company’s stock, valued at approximately $2,130,041.43. The trade was a 8.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tami Rosen sold 28,181 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $21.98, for a total value of $619,418.38. Following the completion of the sale, the director directly owned 16,665 shares in the company, valued at $366,296.70. This represents a 62.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 107,560 shares of company stock worth $2,011,541 in the last quarter. Company insiders own 41.99% of the company’s stock.

Pagaya Technologies Price Performance

NASDAQ PGY opened at $21.80 on Thursday. Pagaya Technologies Ltd. has a 12 month low of $10.40 and a 12 month high of $44.99. The company has a debt-to-equity ratio of 1.12, a current ratio of 11.08 and a quick ratio of 11.08. The firm has a market capitalization of $1.81 billion, a PE ratio of 16.03 and a beta of 5.33. The company’s 50 day simple moving average is $16.76 and its 200 day simple moving average is $14.92.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results on Thursday, May 7th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.20 by $0.53. The firm had revenue of $317.94 million for the quarter, compared to analysts’ expectations of $323.85 million. Pagaya Technologies had a return on equity of 51.56% and a net margin of 9.12%.The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 earnings per share. As a group, equities research analysts forecast that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PGY. B. Riley Financial increased their price objective on Pagaya Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Canaccord Genuity Group lifted their target price on Pagaya Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Zacks Research lowered Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Finally, Citizens Jmp raised their price target on Pagaya Technologies from $22.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Pagaya Technologies presently has a consensus rating of “Buy” and an average target price of $32.43.

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.