Allspring Global Investments Holdings LLC Purchases 966,146 Shares of Payoneer Global Inc. $PAYO

Key Points

• Allspring Global Investments dramatically increased its Payoneer Global stake in the first quarter, buying 966,146 additional shares and bringing its total holding to 1,013,014 shares worth about $4.9 million.
• Wall Street sentiment is cautious: several brokerages recently cut ratings, leaving Payoneer with a consensus Hold and an average price target of $7.40.
• Payoneer reported better-than-expected quarterly results with EPS of $0.06 on revenue of $261.6 million, while the stock was last trading around $7.12 near its 52-week high of $7.66.

Allspring Global Investments Holdings LLC lifted its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 2,061.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,013,014 shares of the company's stock after buying an additional 966,146 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.29% of Payoneer Global worth $4,893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of PAYO. State Street Corp raised its position in Payoneer Global by 1.8% in the 4th quarter. State Street Corp now owns 10,772,088 shares of the company's stock valued at $60,539,000 after buying an additional 195,410 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Payoneer Global by 1.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,436,470 shares of the company's stock valued at $58,654,000 after purchasing an additional 182,614 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Payoneer Global by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 7,309,436 shares of the company's stock valued at $44,229,000 after buying an additional 224,287 shares during the period. Invesco Ltd. lifted its position in Payoneer Global by 137.3% during the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company's stock valued at $38,104,000 after purchasing an additional 3,218,917 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Payoneer Global by 9.3% during the third quarter. Bank of America Corp DE now owns 3,419,039 shares of the company's stock worth $20,685,000 after purchasing an additional 289,598 shares during the last quarter. Institutional investors and hedge funds own 82.22% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on PAYO. Weiss Ratings raised shares of Payoneer Global from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, June 25th. Keefe, Bruyette & Woods cut Payoneer Global from a "moderate buy" rating to a "hold" rating in a research report on Monday, June 15th. Citigroup lowered shares of Payoneer Global from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $10.00 to $7.40 in a report on Tuesday, June 16th. Northland Securities set a $7.40 target price on shares of Payoneer Global in a report on Monday, June 15th. Finally, Needham & Company LLC lowered shares of Payoneer Global from a "buy" rating to a "hold" rating in a research report on Monday, June 15th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $7.40.

Insider Activity at Payoneer Global

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

Payoneer Global Price Performance

Shares of PAYO opened at $7.12 on Friday. Payoneer Global Inc. has a 52-week low of $4.08 and a 52-week high of $7.66. The stock has a fifty day simple moving average of $6.40 and a two-hundred day simple moving average of $5.60. The company has a market capitalization of $2.38 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 0.80 and a beta of 0.95.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $261.60 million during the quarter, compared to analyst estimates of $255.12 million. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. As a group, equities analysts anticipate that Payoneer Global Inc. will post 0.26 earnings per share for the current fiscal year.

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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