Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $33.1111.

A number of equities research analysts recently weighed in on PGY shares. Weiss Ratings cut Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 24th. Freedom Capital raised Pagaya Technologies to a “strong-buy” rating in a report on Tuesday, February 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $32.00 price target on shares of Pagaya Technologies in a report on Monday, May 18th. Benchmark dropped their price target on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Finally, Citigroup dropped their price target on Pagaya Technologies from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 12th.

Pagaya Technologies Trading Down 2.4%

PGY stock opened at $12.76 on Friday. The business has a fifty day moving average price of $12.79 and a 200 day moving average price of $17.59. Pagaya Technologies has a fifty-two week low of $10.40 and a fifty-two week high of $44.99. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 11.93 and a beta of 5.42. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. The business had revenue of $91.63 million for the quarter. Analysts expect that Pagaya Technologies will post 2.24 EPS for the current fiscal year.

Insider Activity

In other news, President Sanjiv Das sold 9,702 shares of Pagaya Technologies stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $10.99, for a total value of $106,624.98. Following the completion of the sale, the president directly owned 144,034 shares of the company’s stock, valued at approximately $1,582,933.66. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tami Rosen sold 9,720 shares of Pagaya Technologies stock in a transaction on Friday, April 17th. The shares were sold at an average price of $15.14, for a total value of $147,160.80. Following the completion of the sale, the director directly owned 37,544 shares of the company’s stock, valued at $568,416.16. This trade represents a 20.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 46,756 shares of company stock valued at $558,738. Company insiders own 47.59% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC increased its stake in shares of Pagaya Technologies by 81.0% in the 1st quarter. Segall Bryant & Hamill LLC now owns 118,459 shares of the company’s stock valued at $1,380,000 after buying an additional 53,011 shares during the period. Edgestream Partners L.P. increased its stake in shares of Pagaya Technologies by 353.2% in the 1st quarter. Edgestream Partners L.P. now owns 373,771 shares of the company’s stock valued at $4,354,000 after buying an additional 291,291 shares during the period. Royal Bank of Canada increased its stake in shares of 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 buying an additional 20,623 shares during the period. Empowered Funds LLC increased its stake in shares of Pagaya Technologies by 4,562.7% in the 1st quarter. Empowered Funds LLC now owns 116,661 shares of the company’s stock valued at $1,359,000 after buying an additional 114,159 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Pagaya Technologies by 5.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 15,136 shares of the company’s stock valued at $176,000 after buying an additional 776 shares during the period. 57.14% of the stock is owned by institutional investors and hedge funds.

About Pagaya Technologies

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.