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

Pagaya Technologies Ltd. (NASDAQ:PGY) has earned an average rating of “Buy” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $34.50.

PGY has been the topic of several recent research reports. Canaccord Genuity Group restated a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a research report on Monday, May 18th. Weiss Ratings lowered Pagaya Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 24th. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Finally, Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th.

Insiders Place Their Bets

In other news, President Sanjiv Das sold 13,309 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $16.23, for a total transaction of $216,005.07. Following the transaction, the president owned 154,475 shares in the company, valued at $2,507,129.25. This trade represents a 7.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Evangelos Perros sold 13,004 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $11.34, for a total value of $147,465.36. Following the transaction, the chief financial officer owned 122,174 shares in the company, valued at $1,385,453.16. This trade represents a 9.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 55,412 shares of company stock worth $822,542. Corporate insiders own 47.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management purchased a new position in Pagaya Technologies in the 3rd quarter valued at $36,000. Root Financial Partners LLC purchased a new position in Pagaya Technologies in the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd increased its stake in shares of Pagaya Technologies by 351.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock worth $29,000 after acquiring an additional 1,084 shares during the last quarter. Transamerica Financial Advisors LLC acquired a new stake in shares of Pagaya Technologies in the 4th quarter worth $30,000. Finally, Quarry LP increased its stake in shares of Pagaya Technologies by 330.8% in the 4th quarter. Quarry LP now owns 1,663 shares of the company’s stock worth $35,000 after acquiring an additional 1,277 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Pagaya Technologies Trading Down 3.7%

Pagaya Technologies stock opened at $15.03 on Thursday. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25. Pagaya Technologies has a 12 month low of $10.40 and a 12 month high of $44.99. The stock’s 50 day simple moving average is $14.02 and its two-hundred day simple moving average is $16.37. The firm has a market cap of $1.25 billion, a PE ratio of 14.05 and a beta of 5.35.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) EPS for the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%.The company had revenue of $91.63 million during the quarter. Analysts anticipate that Pagaya Technologies will post 2.92 earnings per share for the current year.

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.