1248 Management LLC Invests $2.78 Million in Paysign, Inc. (NASDAQ:PAYS)

1248 Management LLC purchased a new stake in Paysign, Inc. (NASDAQ:PAYS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 920,000 shares of the company's stock, valued at approximately $2,778,000. Paysign accounts for 1.2% of 1248 Management LLC's holdings, making the stock its 16th largest position. 1248 Management LLC owned approximately 1.72% of Paysign at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barrington Research reiterated an "outperform" rating and issued a $7.00 price target on shares of Paysign in a research note on Wednesday, March 26th. DA Davidson reiterated a "buy" rating and set a $6.00 target price on shares of Paysign in a report on Wednesday, March 26th.

Insider Transactions at Paysign

In other Paysign news, CEO Mark Newcomer sold 100,000 shares of the company's stock in a transaction 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. This represents a 1.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 22.40% of the stock is owned by corporate insiders.

Paysign Stock Performance

PAYS traded down $0.06 during trading hours on Wednesday, reaching $2.35. The company's stock had a trading volume of 33,919 shares, compared to its average volume of 204,199. The company's 50-day moving average is $2.27 and its 200-day moving average is $2.85. Paysign, Inc. has a 52 week low of $1.80 and a 52 week high of $5.59. The firm has a market cap of $126.04 million, a PE ratio of 15.60 and a beta of 0.23.

Paysign (NASDAQ:PAYS - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.02 earnings per share (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 company had revenue of $15.61 million during the quarter, compared to analysts' expectations of $15.42 million. Equities analysts anticipate 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.