Emerald Mutual Fund Advisers Trust Increases Position in Pagaya Technologies Ltd. $PGY

Emerald Mutual Fund Advisers Trust lifted its position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 139.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,640 shares of the company’s stock after purchasing an additional 43,475 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.09% of Pagaya Technologies worth $870,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PGY. BNP Paribas Financial Markets increased its holdings in Pagaya Technologies by 1,231.6% in the second quarter. BNP Paribas Financial Markets now owns 1,200,348 shares of the company’s stock valued at $25,591,000 after buying an additional 1,110,208 shares during the last quarter. Millennium Management LLC boosted its position in shares of Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock worth $13,230,000 after acquiring an additional 961,944 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Pagaya Technologies by 221.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,379,550 shares of the company’s stock valued at $28,833,000 after acquiring an additional 950,443 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Pagaya Technologies by 1,556.3% in the 3rd quarter. Marshall Wace LLP now owns 672,008 shares of the company’s stock valued at $19,952,000 after acquiring an additional 631,435 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Pagaya Technologies by 3,179.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 426,089 shares of the company’s stock worth $9,493,000 after acquiring an additional 413,096 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Price Performance

Shares of NASDAQ PGY opened at $18.27 on Wednesday. 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 Ltd. has a twelve month low of $10.40 and a twelve month high of $44.99. The stock has a 50 day moving average of $15.35 and a two-hundred day moving average of $15.49. The stock has a market cap of $1.51 billion, a P/E ratio of 17.07 and a beta of 5.32.

Pagaya Technologies (NASDAQ:PGY) last announced its earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. The business had revenue of $91.63 million for the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%. On average, research analysts forecast that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on PGY. Canaccord Genuity Group restated a “buy” rating and set a $32.00 target price on shares of Pagaya Technologies in a research note on Monday, May 18th. Texas Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Finally, Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $35.86.

Insider Activity

In other Pagaya Technologies news, Director Tami Rosen sold 9,944 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $15.20, for a total transaction of $151,148.80. Following the transaction, the director directly owned 37,544 shares of the company’s stock, valued at approximately $570,668.80. This trade represents a 20.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Cory Vieira sold 2,140 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.01, for a total transaction of $32,121.40. Following the completion of the sale, the chief accounting officer directly owned 18,179 shares of the company’s stock, valued at $272,866.79. The trade was a 10.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 67,810 shares of company stock worth $1,070,925 over the last 90 days. 41.99% of the stock is owned by corporate insiders.

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.