GAMMA Investing LLC Acquires 42,834 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

GAMMA Investing LLC lifted its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 519.8% in the 1st quarter, HoldingsChannel reports. The fund owned 51,075 shares of the company’s stock after purchasing an additional 42,834 shares during the period. GAMMA Investing LLC’s holdings in Payoneer Global were worth $373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new position in Payoneer Global during the 4th quarter valued at about $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of Payoneer Global by 405.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock valued at $38,000 after purchasing an additional 3,064 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Payoneer Global by 420.6% in the first quarter. Versant Capital Management Inc now owns 5,034 shares of the company’s stock valued at $37,000 after purchasing an additional 4,067 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Payoneer Global by 21.2% during the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock valued at $54,000 after buying an additional 940 shares during the last quarter. Finally, CreativeOne Wealth LLC bought a new stake in Payoneer Global during the fourth quarter worth $103,000. 82.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their price objective on Payoneer Global from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Citigroup reissued a “buy” rating and set a $10.00 price target (down from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Jefferies Financial Group boosted their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Keefe, Bruyette & Woods raised shares of Payoneer Global from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $7.00 to $9.00 in a research report on Tuesday, May 13th. Finally, Needham & Company LLC dropped their target price on shares of Payoneer Global from $14.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $10.44.

Payoneer Global Stock Performance

Shares of NASDAQ:PAYO opened at $6.49 on Friday. The company has a market capitalization of $2.35 billion, a P/E ratio of 21.63 and a beta of 0.99. The company’s 50-day moving average is $6.80 and its 200 day moving average is $8.40. Payoneer Global Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $11.29.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $246.62 million during the quarter, compared to the consensus estimate of $244.52 million. Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 EPS. As a group, research analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Insider Transactions at Payoneer Global

In related news, Director Susanna Morgan sold 16,180 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total value of $109,538.60. Following the transaction, the director now owns 80,902 shares in the company, valued at approximately $547,706.54. This represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.58% of the stock is currently owned by company insiders.

About Payoneer Global

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.