Van ECK Associates Corp Purchases 5,612 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Van ECK Associates Corp boosted its position in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,821 shares of the company’s stock after buying an additional 5,612 shares during the period. Van ECK Associates Corp’s holdings in Payoneer Global were worth $902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in Payoneer Global by 29.3% during the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock valued at $45,000 after buying an additional 1,016 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Payoneer Global by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 145,923 shares of the company’s stock valued at $1,465,000 after buying an additional 1,498 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Payoneer Global by 1.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 124,100 shares of the company’s stock valued at $1,246,000 after buying an additional 1,700 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Payoneer Global by 1.2% during the third quarter. The Manufacturers Life Insurance Company now owns 165,996 shares of the company’s stock valued at $1,250,000 after buying an additional 1,907 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Payoneer Global by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company’s stock valued at $83,000 after buying an additional 2,425 shares during the last quarter. 82.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYO has been the subject of several analyst reports. Needham & Company LLC raised their price objective on Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Citigroup raised their price objective on Payoneer Global from $8.50 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Wolfe Research lowered Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group raised their price objective on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research note on Monday, February 3rd. They issued a “buy” rating and a $13.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Payoneer Global has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Insider Buying and Selling

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total transaction of $884,000.00. Following the transaction, the chief financial officer now directly owns 2,305,245 shares in the company, valued at $23,974,548. This trade represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tsafi Goldman sold 96,350 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total value of $970,244.50. Following the transaction, the insider now owns 741,748 shares in the company, valued at $7,469,402.36. The trade was a 11.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 446,796 shares of company stock valued at $4,536,413. Insiders own 5.57% of the company’s stock.

Payoneer Global Stock Performance

Shares of PAYO stock opened at $9.85 on Friday. Payoneer Global Inc. has a 52-week low of $4.22 and a 52-week high of $11.29. The firm has a market capitalization of $3.51 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.94 and a beta of 0.93. The stock has a 50 day moving average price of $10.34 and a 200 day moving average price of $9.13.

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.