1,481,661 Shares in Payoneer Global Inc. $PAYO Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 1.48 million Payoneer shares during the second quarter, valued at approximately $10.5 million and representing about 0.44% of the company. Institutional investors collectively own 82.22% of PAYO.
• Payoneer shares opened at $7.12, near their 52-week high of $7.18, while the company’s latest quarterly revenue rose 5.2% year over year to $274.26 million. However, earnings per share of negative $0.01 missed analysts’ $0.06 estimate.
• Analyst sentiment remains cautious: eight analysts rate the stock Hold and one rates it Buy, with an average price target of $7.40. CFO Beatrice Ordonez also sold 25,000 shares under a pre-arranged trading plan.

Bank of New York Mellon Corp bought a new stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,481,661 shares of the company's stock, valued at approximately $10,549,000. Bank of New York Mellon Corp owned about 0.44% of Payoneer Global as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Leonteq Securities AG increased its position in Payoneer Global by 72.0% in the first quarter. Leonteq Securities AG now owns 6,496 shares of the company's stock worth $31,000 after buying an additional 2,720 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company's stock valued at $33,000 after buying an additional 3,298 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Payoneer Global by 73.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,777 shares of the company's stock valued at $41,000 after buying an additional 2,453 shares during the last quarter. Resonant Capital Advisors LLC bought a new position in shares of Payoneer Global during the 1st quarter worth $49,000. Finally, CWM LLC grew its stake in shares of Payoneer Global by 178.6% during the 4th quarter. CWM LLC now owns 9,384 shares of the company's stock worth $53,000 after acquiring an additional 6,016 shares during the period. 82.22% of the stock is owned by institutional investors.

Payoneer Global Stock Performance

Shares of PAYO opened at $7.12 on Thursday. The stock's 50-day simple moving average is $7.11 and its 200 day simple moving average is $5.87. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 50.86, a price-to-earnings-growth ratio of 1.49 and a beta of 0.94. Payoneer Global Inc. has a 52-week low of $4.08 and a 52-week high of $7.18.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.07). Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The company had revenue of $274.26 million for the quarter, compared to analysts' expectations of $270.98 million. During the same period in the previous year, the firm earned $0.05 EPS. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts forecast that Payoneer Global Inc. will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Beatrice Ordonez sold 25,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer owned 2,887,266 shares of the company's stock, valued at approximately $20,239,734.66. This represents a 0.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut Payoneer Global from a "buy" rating to a "hold" rating in a research note on Friday, August 7th. Northland Securities set a $7.40 target price on shares of Payoneer Global in a research report on Monday, June 15th. Keefe, Bruyette & Woods downgraded shares of Payoneer Global from a "moderate buy" rating to a "hold" rating in a research note on Monday, June 15th. Citigroup downgraded shares of Payoneer Global from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $10.00 to $7.40 in a research note on Tuesday, June 16th. Finally, Weiss Ratings raised shares of Payoneer Global from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Payoneer Global has an average rating of "Hold" and an average price target of $7.40.

Payoneer Global Profile

Payoneer Global NASDAQ: PAYO operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company's core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.

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