Algert Global LLC Takes $46,000 Position in Paysign, Inc. (NASDAQ:PAYS)

Algert Global LLC purchased a new stake in shares of Paysign, Inc. (NASDAQ:PAYS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,618 shares of the company’s stock, valued at approximately $46,000.

Several other hedge funds have also added to or reduced their stakes in PAYS. Norden Group LLC lifted its position in 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 purchasing an additional 4,151 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Paysign in the second quarter valued at approximately $66,000. American Century Companies Inc. bought a new position in Paysign in the second quarter valued at approximately $92,000. Rhumbline Advisers grew its holdings in Paysign by 25.1% during the 2nd quarter. Rhumbline Advisers now owns 35,835 shares of the company’s stock worth $154,000 after acquiring an additional 7,190 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Paysign by 49.7% during the 1st quarter. BNP Paribas Financial Markets now owns 39,452 shares of the company’s stock valued at $144,000 after acquiring an additional 13,093 shares during the last quarter. Institutional investors own 25.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Paysign

In related news, insider Robert Strobo sold 29,690 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $4.54, for a total transaction of $134,792.60. Following the completion of the sale, the insider now directly owns 209,811 shares of the company’s stock, valued at approximately $952,541.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Daniel Spence sold 100,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $3.60, for a total value of $360,000.00. Following the sale, the insider now directly owns 9,090,000 shares in the company, valued at $32,724,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert Strobo sold 29,690 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $4.54, for a total value of $134,792.60. Following the transaction, the insider now owns 209,811 shares of the company’s stock, valued at approximately $952,541.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 302,169 shares of company stock valued at $1,263,227 over the last 90 days. 23.40% of the stock is owned by company insiders.

Paysign Stock Performance

Shares of NASDAQ PAYS opened at $3.65 on Friday. The firm has a 50 day moving average price of $4.35 and a 200 day moving average price of $4.40. The stock has a market cap of $193.96 million, a P/E ratio of 26.07 and a beta of 0.96. Paysign, Inc. has a 52-week low of $1.67 and a 52-week high of $5.59.

Paysign (NASDAQ:PAYS) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.01 EPS for the quarter. The business had revenue of $14.33 million during the quarter, compared to analysts’ expectations of $14.07 million. Paysign had a net margin of 14.42% and a return on equity of 32.55%. Analysts predict that Paysign, Inc. will post 0.21 earnings per share for the current fiscal year.

Paysign 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.