Payoneer Global Inc. (NASDAQ:PAYO) Director Scott H. Galit Sells 390,000 Shares

Payoneer Global Inc. (NASDAQ:PAYO) Director Scott H. Galit sold 390,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $5.44, for a total value of $2,121,600.00. Following the transaction, the director now owns 2,122,421 shares in the company, valued at $11,545,970.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Payoneer Global Stock Performance

Shares of PAYO opened at $5.49 on Tuesday. The firm has a market capitalization of $2.05 billion, a P/E ratio of 18.30 and a beta of 0.82. Payoneer Global Inc. has a 52 week low of $4.22 and a 52 week high of $6.48. The stock has a 50 day moving average price of $5.64 and a two-hundred day moving average price of $5.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.09 and a current ratio of 1.09.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $228.20 million during the quarter, compared to the consensus estimate of $211.63 million. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. Payoneer Global’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.02 earnings per share. Equities analysts forecast that Payoneer Global Inc. will post 0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Citigroup reduced their price target on shares of Payoneer Global from $7.50 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Benchmark restated a “buy” rating and issued a $9.00 target price on shares of Payoneer Global in a research note on Tuesday, May 14th. Finally, Needham & Company LLC upped their price target on Payoneer Global from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Payoneer Global currently has an average rating of “Buy” and an average target price of $7.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Payoneer Global by 4.4% during the third quarter. Vanguard Group Inc. now owns 27,791,663 shares of the company’s stock valued at $170,085,000 after acquiring an additional 1,166,894 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Payoneer Global by 43.5% during the 4th quarter. Allianz Asset Management GmbH now owns 906,735 shares of the company’s stock valued at $4,724,000 after purchasing an additional 274,942 shares during the last quarter. Insight Wealth Strategies LLC raised its stake in shares of Payoneer Global by 176.4% during the 1st quarter. Insight Wealth Strategies LLC now owns 356,666 shares of the company’s stock worth $1,733,000 after purchasing an additional 227,604 shares during the period. Hudson Bay Capital Management LP boosted its holdings in shares of Payoneer Global by 100.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 600,000 shares of the company’s stock worth $3,672,000 after buying an additional 300,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Payoneer Global by 85.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,979,701 shares of the company’s stock valued at $18,236,000 after buying an additional 1,370,007 shares during the period. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

About Payoneer Global

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.