Amalgamated Bank Lowers Stock Holdings in Payoneer Global Inc. (NASDAQ:PAYO)

Amalgamated Bank trimmed its position in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,608 shares of the company’s stock after selling 2,285 shares during the quarter. Amalgamated Bank’s holdings in Payoneer Global were worth $569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of Payoneer Global by 135.2% in the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after buying an additional 2,552 shares during the period. Quarry LP purchased a new position in shares of Payoneer Global in the 2nd quarter valued at about $29,000. GAMMA Investing LLC boosted its stake in shares of Payoneer Global by 438.5% in the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after buying an additional 4,736 shares during the period. SageView Advisory Group LLC purchased a new position in shares of Payoneer Global in the 1st quarter valued at about $39,000. Finally, FSC Wealth Advisors LLC purchased a new stake in Payoneer Global during the third quarter worth approximately $68,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Insider Activity

In related news, insider Crossover Managemen Technology sold 7,500,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 34,197,116 shares of the company’s stock, valued at $352,914,237.12. This represents a 17.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott H. Galit sold 150,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total value of $1,060,500.00. Following the transaction, the director now directly owns 1,809,674 shares in the company, valued at $12,794,395.18. This represents a 7.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,658,000 shares of company stock valued at $78,524,500. Company insiders own 5.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PAYO shares. Needham & Company LLC boosted their target price on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group boosted their target price on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their target price on Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Benchmark boosted their target price on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $10.79.

Payoneer Global Stock Up 0.4 %

PAYO opened at $10.37 on Friday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 29.63 and a beta of 0.82. The business’s 50 day moving average is $8.34 and its two-hundred day moving average is $6.79. Payoneer Global Inc. has a 52 week low of $4.22 and a 52 week high of $10.90.

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

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.