Quarry LP Acquires Shares of 5,190 Payoneer Global Inc. (NASDAQ:PAYO)

Quarry LP acquired a new stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,190 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PAYO. Vanguard Group Inc. increased its position in Payoneer Global by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock worth $148,897,000 after purchasing an additional 787,509 shares during the period. AXA S.A. increased its position in Payoneer Global by 1,394.5% during the 2nd quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after purchasing an additional 13,227,884 shares during the period. Wellington Management Group LLP increased its position in Payoneer Global by 68.4% during the 4th quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock worth $40,014,000 after purchasing an additional 3,161,509 shares during the period. Millennium Management LLC increased its position in Payoneer Global by 17.3% during the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after purchasing an additional 995,366 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Payoneer Global by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock worth $23,283,000 after purchasing an additional 178,842 shares during the period. 82.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PAYO. Northland Securities boosted their target price on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Benchmark restated a “buy” rating and issued a $9.00 price target on shares of Payoneer Global in a report on Thursday, August 8th. Citigroup upped their price target on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods upped their price target on Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, The Goldman Sachs Group upped their price target on Payoneer Global from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $8.64.

Insider Activity at Payoneer Global

In related news, Director Scott H. Galit sold 10,601 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $5.52, for a total transaction of $58,517.52. Following the completion of the transaction, the director now owns 2,122,421 shares of the company’s stock, valued at approximately $11,715,763.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Scott H. Galit sold 10,601 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $5.52, for a total value of $58,517.52. Following the completion of the sale, the director now owns 2,122,421 shares of the company’s stock, valued at $11,715,763.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott H. Galit sold 150,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the completion of the sale, the director now directly owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 560,901 shares of company stock valued at $3,256,620. Company insiders own 5.57% of the company’s stock.

Payoneer Global Stock Performance

Payoneer Global stock opened at $7.68 on Tuesday. Payoneer Global Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $7.86. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 25.60 and a beta of 0.85. The stock has a fifty day moving average of $7.00 and a two-hundred day moving average of $5.95.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $239.50 million during the quarter, compared to analysts’ expectations of $223.12 million. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. On average, analysts forecast that Payoneer Global Inc. will post 0.25 EPS for the current fiscal year.

Payoneer Global Company Profile

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.