Payoneer Global (NASDAQ:PAYO) CFO Beatrice Ordonez Sells 25,000 Shares of Stock

Payoneer Global Inc. (NASDAQ:PAYO) CFO Beatrice Ordonez sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the sale, the chief financial officer owned 2,887,266 shares in the company, valued at approximately $20,239,734.66. This represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Payoneer Global Trading Down 0.1%

Payoneer Global stock opened at $7.02 on Wednesday. Payoneer Global Inc. has a 12 month low of $4.08 and a 12 month high of $7.66. The firm has a market cap of $2.35 billion, a PE ratio of 35.10, a P/E/G ratio of 0.75 and a beta of 1.02. The stock’s 50 day simple moving average is $5.22 and its two-hundred day simple moving average is $5.34.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.The firm had revenue of $261.60 million for the quarter, compared to analyst estimates of $255.12 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Payoneer Global Inc. will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of Payoneer Global by 137.3% in the 2nd quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock worth $38,104,000 after acquiring an additional 3,218,917 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Payoneer Global by 2,061.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,013,014 shares of the company’s stock worth $4,893,000 after acquiring an additional 966,146 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Payoneer Global by 238.5% in the 4th quarter. Marshall Wace LLP now owns 1,362,962 shares of the company’s stock worth $7,660,000 after acquiring an additional 960,371 shares during the last quarter. HRT Financial LP acquired a new stake in shares of Payoneer Global in the 4th quarter worth $4,912,000. Finally, Blue Owl Capital Holdings LP acquired a new stake in shares of Payoneer Global in the 4th quarter worth $4,680,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PAYO shares. Bank of America started coverage on Payoneer Global in a research report on Wednesday, March 25th. They set a “buy” rating and a $6.00 target price on the stock. Citigroup lowered Payoneer Global from a “buy” rating to a “neutral” rating and decreased their target price for the company from $10.00 to $7.40 in a research report on Tuesday. Benchmark reiterated a “buy” rating and set a $9.00 target price on shares of Payoneer Global in a research report on Wednesday, June 10th. Needham & Company LLC lowered Payoneer Global from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Northland Securities set a $7.40 target price on Payoneer Global in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.40.

Payoneer Global News Roundup

Here are the key news stories impacting Payoneer Global this week:

• Positive Sentiment: Nuvei announced a definitive agreement to acquire Payoneer Global Inc. for $7.40 per share in cash, creating a larger global payments platform with expected annual revenue of about $3 billion at closing. Nuvei to Acquire Payoneer for $2.75 Billion, Creating a Leading Global Platform for Local and Cross-Border Commerce
• Positive Sentiment: Multiple reports highlighted that Payoneer’s shares jumped on the acquisition news, reflecting investor enthusiasm for the deal premium and the possibility of a near-term exit at the agreed cash price. Stock Market Today, June 15: Payoneer Global Jumps After Nuvei Agrees to Acquire Company for $2.75 Billion
• Neutral Sentiment: Payoneer’s CFO, Beatrice Ordonez, sold 25,000 shares under a pre-arranged 10b5-1 trading plan. The filing is routine and does not necessarily signal a change in fundamentals, but it is a headline investors may notice. Payoneer CFO Beatrice Ordonez Insider Trade
• Negative Sentiment: Several law firms announced investigations into whether Payoneer shareholders are getting a fair price in the transaction, which could add legal noise and create some uncertainty around the deal process. Shareholder Alert: Ademi LLP Investigates Whether Payoneer Global Inc. is Obtaining a Fair Price for Public Shareholders

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.