1248 Management LLC Acquires Shares of 920,000 Paysign, Inc. (NASDAQ:PAYS)

1248 Management LLC bought a new position in shares of Paysign, Inc. (NASDAQ:PAYS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 920,000 shares of the company's stock, valued at approximately $2,778,000. Paysign accounts for approximately 1.2% of 1248 Management LLC's holdings, making the stock its 16th largest holding. 1248 Management LLC owned about 1.72% of Paysign at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PAYS. PDT Partners LLC bought a new position in shares of Paysign in the 4th quarter worth $39,000. Wells Fargo & Company MN raised its holdings in shares of Paysign by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 15,385 shares of the company's stock worth $46,000 after acquiring an additional 5,243 shares during the last quarter. SG Americas Securities LLC lifted its position in Paysign by 33.5% in the 4th quarter. SG Americas Securities LLC now owns 15,508 shares of the company's stock valued at $47,000 after acquiring an additional 3,895 shares in the last quarter. Virtu Financial LLC acquired a new position in Paysign during the 4th quarter valued at about $78,000. Finally, Bard Associates Inc. increased its holdings in Paysign by 19.7% during the 4th quarter. Bard Associates Inc. now owns 33,450 shares of the company's stock worth $101,000 after purchasing an additional 5,497 shares in the last quarter. Institutional investors own 25.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barrington Research reissued an "outperform" rating and issued a $7.00 price objective on shares of Paysign in a research report on Wednesday, March 26th. DA Davidson reissued a "buy" rating and issued a $6.00 price objective on shares of Paysign in a report on Wednesday, March 26th.

Insider Activity at Paysign

In other Paysign news, CEO Mark Newcomer sold 100,000 shares of Paysign stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $2.73, for a total value of $273,000.00. Following the transaction, the chief executive officer now directly owns 8,936,886 shares of the company's stock, valued at $24,397,698.78. The trade was a 1.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.40% of the stock is currently owned by insiders.

Paysign Trading Down 3.6 %

Shares of Paysign stock traded down $0.09 on Tuesday, reaching $2.40. The stock had a trading volume of 69,573 shares, compared to its average volume of 205,264. The business's 50 day moving average is $2.27 and its two-hundred day moving average is $2.86. The company has a market cap of $129.00 million, a P/E ratio of 16.00 and a beta of 0.23. Paysign, Inc. has a 1 year low of $1.80 and a 1 year high of $5.59.

Paysign (NASDAQ:PAYS - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.02 EPS for the quarter, hitting analysts' consensus estimates of $0.02. Paysign had a net margin of 14.28% and a return on equity of 30.64%. The firm had revenue of $15.61 million for the quarter, compared to analyst estimates of $15.42 million. On average, equities analysts anticipate that Paysign, Inc. will post 0.21 EPS for the current fiscal year.

About Paysign

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.