Hsbc Holdings PLC Has $3.40 Million Stock Holdings in Payoneer Global Inc. $PAYO

Hsbc Holdings PLC grew its position in Payoneer Global Inc. (NASDAQ:PAYO) by 372.8% during the fourth quarter, HoldingsChannel reports. The firm owned 603,407 shares of the company’s stock after buying an additional 475,776 shares during the quarter. Hsbc Holdings PLC’s holdings in Payoneer Global were worth $3,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Osaic Holdings Inc. raised its holdings in Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after acquiring an additional 3,298 shares during the period. CWM LLC grew its position in shares of Payoneer Global by 178.6% in the fourth quarter. CWM LLC now owns 9,384 shares of the company’s stock valued at $53,000 after purchasing an additional 6,016 shares during the last quarter. Vident Advisory LLC bought a new position in shares of Payoneer Global in the fourth quarter worth about $58,000. Quarry LP increased its stake in shares of Payoneer Global by 9,273.2% in the third quarter. Quarry LP now owns 10,498 shares of the company’s stock worth $64,000 after purchasing an additional 10,386 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of Payoneer Global in the fourth quarter worth about $63,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAYO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods downgraded Payoneer Global from a “moderate buy” rating to a “hold” rating in a research note on Monday, June 15th. Bank of America began coverage on Payoneer Global in a research report on Wednesday, March 25th. They issued a “buy” rating and a $6.00 price target on the stock. Citigroup cut Payoneer Global from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $7.40 in a research report on Tuesday, June 16th. Benchmark downgraded shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Thursday, June 18th. Finally, Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.40.

Payoneer Global Price Performance

Shares of PAYO stock opened at $7.10 on Friday. Payoneer Global Inc. has a one year low of $4.08 and a one year high of $7.66. The stock has a fifty day moving average price of $5.97 and a 200 day moving average price of $5.50. The stock has a market cap of $2.38 billion, a P/E ratio of 35.50, a price-to-earnings-growth ratio of 0.75 and a beta of 0.95.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results 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 net margin of 6.76% and a return on equity of 11.10%. The firm had revenue of $261.60 million for the quarter, compared to analyst estimates of $255.12 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Payoneer Global Inc. will post 0.27 EPS for the current year.

Insider Buying and Selling at Payoneer Global

In other news, CFO Beatrice Ordonez sold 25,000 shares of Payoneer Global stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer directly owned 2,887,266 shares in the company, valued at approximately $20,239,734.66. The trade was a 0.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.06% of the company’s stock.

About Payoneer Global

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.