Wedge Capital Management L L P NC Takes Position in Payoneer Global Inc. (NASDAQ:PAYO)

Wedge Capital Management L L P NC bought a new stake in Payoneer Global Inc. (NASDAQ:PAYO) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 200,452 shares of the company’s stock, valued at approximately $1,509,000. Wedge Capital Management L L P NC owned 0.05% of Payoneer Global as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its stake in Payoneer Global by 68.4% in the fourth quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock valued at $40,014,000 after buying an additional 3,161,509 shares during the period. Vanguard Group Inc. raised its stake in Payoneer Global by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock valued at $148,897,000 after acquiring an additional 787,509 shares during the period. Principal Financial Group Inc. lifted its holdings in Payoneer Global by 4.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,579,996 shares of the company’s stock valued at $7,679,000 after purchasing an additional 64,126 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Payoneer Global by 27.8% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after purchasing an additional 2,074 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Payoneer Global by 6.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 563,060 shares of the company’s stock valued at $2,736,000 after purchasing an additional 33,491 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PAYO. The Goldman Sachs Group raised their target price on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday. Needham & Company LLC boosted their price objective on Payoneer Global from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Benchmark reiterated a “buy” rating and set a $9.00 target price on shares of Payoneer Global in a research note on Thursday, August 8th. Keefe, Bruyette & Woods boosted their target price on shares of Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $8.79.

Insider Buying and Selling at Payoneer Global

In other news, Director Scott H. Galit sold 150,000 shares of the business’s 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 transaction, the director now owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the sale, the director now owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Itai Perry sold 4,100 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total transaction of $32,800.00. Following the transaction, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at $1,829,904. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,000 shares of company stock valued at $1,124,500. 5.57% of the stock is currently owned by corporate insiders.

Payoneer Global Stock Up 0.9 %

PAYO stock opened at $8.10 on Thursday. Payoneer Global Inc. has a 52 week low of $4.22 and a 52 week high of $8.11. The business has a 50-day simple moving average of $7.37 and a 200 day simple moving average of $6.11. The company has a market cap of $3.02 billion, a PE ratio of 27.00 and a beta of 0.85.

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

Payoneer Global 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.