Weiss Asset Management LP Takes $2.34 Million Position in Payoneer Global Inc. (NASDAQ:PAYO)

Weiss Asset Management LP bought a new stake in Payoneer Global Inc. (NASDAQ:PAYO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 310,599 shares of the company’s stock, valued at approximately $2,339,000. Weiss Asset Management LP owned 0.08% of Payoneer Global at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. AXA S.A. increased its stake in Payoneer Global by 1,394.5% in the 2nd quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock valued at $78,538,000 after buying an additional 13,227,884 shares during the period. Azora Capital LP purchased a new stake in shares of Payoneer Global during the 3rd quarter worth $31,901,000. Legion Partners Asset Management LLC purchased a new stake in shares of Payoneer Global during the 2nd quarter worth $12,360,000. American Century Companies Inc. boosted its position in shares of Payoneer Global by 241.5% during the 2nd quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock worth $9,106,000 after purchasing an additional 1,162,481 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Payoneer Global by 17.3% during the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after purchasing an additional 995,366 shares in the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup boosted their target price on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group boosted their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Northland Securities boosted their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday. Benchmark boosted their price objective on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Needham & Company LLC boosted their price objective on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $11.36.

Insiders Place Their Bets

In other Payoneer Global news, CAO Itai Perry sold 4,100 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total value of $32,800.00. Following the sale, the chief accounting officer now directly owns 228,738 shares in the company, valued at approximately $1,829,904. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the completion of the sale, the insider now owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. This trade represents a 17.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,562,402 shares of company stock worth $78,043,152. 5.57% of the stock is owned by corporate insiders.

Payoneer Global Stock Up 1.5 %

PAYO opened at $10.95 on Friday. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $11.29. The firm’s 50 day moving average is $9.35 and its 200-day moving average is $7.34. The firm has a market capitalization of $3.90 billion, a P/E ratio of 31.29 and a beta of 0.90.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. During the same period in the previous year, the business earned $0.05 earnings per share. The company’s revenue was up 19.4% on a year-over-year basis. Equities analysts expect that Payoneer Global Inc. will post 0.32 earnings per share for the current fiscal year.

Payoneer Global Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.