Algert Global LLC Increases Stock Holdings in Payoneer Global Inc. $PAYO

Key Points

• Algert Global LLC increased its stake in Payoneer Global Inc. by 27.9%, owning 253,549 shares valued at approximately $1.85 million, as indicated in a recent SEC filing.
• Other institutional investors have also significantly raised their positions in Payoneer Global, resulting in 82.22% of the stock being owned by such entities.
• Wall Street analysts have upgraded their ratings on Payoneer Global, with a consensus rating of "Moderate Buy" and a target price of $10.06, despite the company's recent earnings miss.

Algert Global LLC lifted its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 27.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 253,549 shares of the company's stock after purchasing an additional 55,247 shares during the quarter. Algert Global LLC owned about 0.07% of Payoneer Global worth $1,853,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Payoneer Global by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,016 shares of the company's stock valued at $132,000 after purchasing an additional 1,808 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Payoneer Global by 8.6% in the fourth quarter. Bank of Montreal Can now owns 28,613 shares of the company's stock worth $287,000 after buying an additional 2,258 shares during the last quarter. Quarry LP purchased a new position in shares of Payoneer Global in the fourth quarter worth $29,000. Farther Finance Advisors LLC purchased a new position in shares of Payoneer Global in the first quarter worth $25,000. Finally, Corton Capital Inc. raised its holdings in shares of Payoneer Global by 27.8% in the first quarter. Corton Capital Inc. now owns 15,971 shares of the company's stock worth $117,000 after buying an additional 3,475 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PAYO has been the subject of a number of research analyst reports. Citigroup reaffirmed a "buy" rating and issued a $10.00 price target (down previously from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price target for the company. Needham & Company LLC raised their price target on shares of Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Payoneer Global from a "hold" rating to a "sell" rating in a report on Sunday. Finally, Jefferies Financial Group increased their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.06.

Insider Activity at Payoneer Global

In other news, Director Susanna Morgan sold 16,180 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.77, for a total transaction of $109,538.60. Following the sale, the director owned 80,902 shares of the company's stock, valued at $547,706.54. This trade represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.58% of the stock is owned by insiders.

Payoneer Global Price Performance

NASDAQ:PAYO traded up $0.03 during midday trading on Wednesday, hitting $6.79. The company's stock had a trading volume of 2,772,482 shares, compared to its average volume of 3,980,093. Payoneer Global Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $11.29. The firm's 50 day moving average is $6.76 and its 200-day moving average is $7.21. The firm has a market cap of $2.45 billion, a P/E ratio of 26.12, a P/E/G ratio of 8.90 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $260.61 million during the quarter, compared to analyst estimates of $253.17 million. Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%.Payoneer Global's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. As a group, analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current 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.