The Manufacturers Life Insurance Company Invests $66,000 in Paysign, Inc. (NASDAQ:PAYS)

The Manufacturers Life Insurance Company purchased a new position in Paysign, Inc. (NASDAQ:PAYS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,298 shares of the company’s stock, valued at approximately $66,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norden Group LLC lifted its holdings in shares of Paysign by 38.7% during the 1st quarter. Norden Group LLC now owns 14,883 shares of the company’s stock valued at $54,000 after acquiring an additional 4,151 shares in the last quarter. American Century Companies Inc. bought a new position in Paysign during the second quarter worth $92,000. BNP Paribas Financial Markets raised its holdings in shares of Paysign by 49.7% during the first quarter. BNP Paribas Financial Markets now owns 39,452 shares of the company’s stock worth $144,000 after purchasing an additional 13,093 shares during the period. Quadrature Capital Ltd bought a new position in shares of Paysign in the 1st quarter worth about $147,000. Finally, Rhumbline Advisers boosted its holdings in shares of Paysign by 25.1% in the 2nd quarter. Rhumbline Advisers now owns 35,835 shares of the company’s stock valued at $154,000 after buying an additional 7,190 shares during the period. Institutional investors and hedge funds own 25.89% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research reissued an “outperform” rating and issued a $7.00 target price on shares of Paysign in a report on Friday, June 28th.

Insider Activity at Paysign

In other Paysign news, major shareholder Daniel Spence sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $3.60, for a total value of $360,000.00. Following the completion of the sale, the insider now directly owns 9,090,000 shares in the company, valued at $32,724,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Daniel Spence sold 100,000 shares of Paysign stock in a transaction on Friday, September 27th. The stock was sold at an average price of $3.60, for a total transaction of $360,000.00. Following the transaction, the insider now owns 9,090,000 shares in the company, valued at approximately $32,724,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Newcomer sold 50,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $4.25, for a total value of $212,500.00. Following the transaction, the chief executive officer now directly owns 9,486,886 shares in the company, valued at $40,319,265.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 302,169 shares of company stock worth $1,263,227 in the last 90 days. Corporate insiders own 23.40% of the company’s stock.

Paysign Stock Down 5.1 %

Shares of NASDAQ:PAYS opened at $3.75 on Tuesday. The company’s 50-day moving average price is $4.26 and its 200 day moving average price is $4.41. Paysign, Inc. has a fifty-two week low of $1.67 and a fifty-two week high of $5.59. The company has a market cap of $198.67 million, a PE ratio of 28.85 and a beta of 0.96.

Paysign (NASDAQ:PAYS) last announced its earnings results on Wednesday, July 31st. The company reported $0.01 earnings per share for the quarter. Paysign had a return on equity of 32.55% and a net margin of 14.42%. The firm had revenue of $14.33 million for the quarter, compared to the consensus estimate of $14.07 million. As a group, equities analysts anticipate that Paysign, Inc. will post 0.21 EPS for the current year.

Paysign Company Profile

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.