OP Asset Management Ltd Invests $1.50 Million in Payoneer Global Inc. $PAYO

OP Asset Management Ltd acquired a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 310,218 shares of the company’s stock, valued at approximately $1,498,000. OP Asset Management Ltd owned 0.09% of Payoneer Global as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its stake in Payoneer Global by 246.5% in the second quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock valued at $33,000 after buying an additional 3,298 shares during the period. CWM LLC grew its position in shares of Payoneer Global by 178.6% during the 4th quarter. CWM LLC now owns 9,384 shares of the company’s stock worth $53,000 after buying an additional 6,016 shares during the period. Vident Advisory LLC acquired a new position in shares of Payoneer Global during the 4th quarter worth about $58,000. Empowered Funds LLC bought a new stake in shares of Payoneer Global in the 4th quarter valued at about $63,000. Finally, Quarry LP raised its position in shares of Payoneer Global by 9,273.2% in the 3rd quarter. Quarry LP now owns 10,498 shares of the company’s stock valued at $64,000 after acquiring an additional 10,386 shares during the period. Institutional investors own 82.22% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PAYO. Benchmark lowered shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Thursday, June 18th. Bank of America started coverage on shares of Payoneer Global in a research note on Wednesday, March 25th. They issued a “buy” rating and a $6.00 target price for the company. Citigroup lowered shares of Payoneer Global from a “buy” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $7.40 in a report on Tuesday, June 16th. Needham & Company LLC cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, William Blair lowered shares of Payoneer Global from an “outperform” rating to a “hold” rating in a report on Monday, June 15th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Payoneer Global currently has a consensus rating of “Hold” and a consensus target price of $7.40.

Payoneer Global Price Performance

NASDAQ PAYO opened at $7.09 on Tuesday. Payoneer Global Inc. has a one year low of $4.08 and a one year high of $7.66. The firm has a market cap of $2.37 billion, a P/E ratio of 35.45, a P/E/G ratio of 0.76 and a beta of 1.02. The stock’s 50-day moving average is $5.62 and its 200-day moving average is $5.42.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.The business had revenue of $261.60 million during the quarter, compared to analyst estimates of $255.12 million. During the same period in the previous year, the firm earned $0.05 EPS. Payoneer Global’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Payoneer Global Inc. will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Beatrice Ordonez sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the transaction, the chief financial officer owned 2,887,266 shares in the company, valued at $20,239,734.66. This represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.06% of the company’s stock.

Payoneer Global Company Profile

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.