Hussman Strategic Advisors Inc. Invests $2.49 Million in Pagaya Technologies Ltd. $PGY

Hussman Strategic Advisors Inc. bought a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 84,000 shares of the company’s stock, valued at approximately $2,494,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in shares of Pagaya Technologies during the third quarter worth $25,000. Caitong International Asset Management Co. Ltd lifted its stake in Pagaya Technologies by 35.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock worth $42,000 after acquiring an additional 520 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Pagaya Technologies during the 3rd quarter valued at about $84,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Pagaya Technologies in the 3rd quarter valued at about $98,000. Finally, GAMMA Investing LLC grew its position in Pagaya Technologies by 21.2% in the 2nd quarter. GAMMA Investing LLC now owns 5,363 shares of the company’s stock valued at $114,000 after acquiring an additional 938 shares in the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Price Performance

Shares of NASDAQ PGY opened at $20.77 on Wednesday. The stock’s 50-day simple moving average is $23.01 and its 200-day simple moving average is $28.41. The firm has a market capitalization of $1.67 billion, a PE ratio of -7.78 and a beta of 5.86. Pagaya Technologies Ltd. has a fifty-two week low of $8.50 and a fifty-two week high of $44.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 11.41 and a current ratio of 11.41.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Monday, November 10th. The company reported $1.02 EPS for the quarter, beating 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 company 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 posted $0.44 earnings per share. The firm’s revenue was up 36.3% on a year-over-year basis. As a group, equities research analysts forecast that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Insider Activity at Pagaya Technologies

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

Analyst Ratings Changes

PGY has been the topic of several research reports. Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 2nd. Wall Street Zen lowered shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Canaccord Genuity Group boosted their price target on shares of Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a research note on Friday, January 9th. Finally, Benchmark reiterated a “buy” rating and issued a $48.00 target price on shares of Pagaya Technologies in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Pagaya Technologies has a consensus rating of “Moderate Buy” and an average price target 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.