Aspen Capital Management LLC Invests $1.42 Million in Payoneer Global Inc. (NASDAQ:PAYO)

Aspen Capital Management LLC bought a new position in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 194,222 shares of the company's stock, valued at approximately $1,420,000. Payoneer Global comprises about 0.5% of Aspen Capital Management LLC's investment portfolio, making the stock its 24th biggest holding. Aspen Capital Management LLC owned 0.05% of Payoneer Global at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PAYO. Farther Finance Advisors LLC acquired a new position in Payoneer Global during the 1st quarter worth about $25,000. Quarry LP acquired a new position in Payoneer Global during the 4th quarter worth about $29,000. Versant Capital Management Inc lifted its position in Payoneer Global by 420.6% during the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock worth $37,000 after buying an additional 4,067 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Payoneer Global by 559.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock worth $62,000 after buying an additional 7,195 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in Payoneer Global by 86.4% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 11,956 shares of the company's stock worth $87,000 after buying an additional 5,542 shares in the last quarter. Institutional investors own 82.22% of the company's stock.

Insider Activity

In other news, Director Susanna Morgan sold 16,180 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.77, for a total value of $109,538.60. Following the completion of the sale, the director owned 80,902 shares of the company's stock, valued at approximately $547,706.54. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.58% of the company's stock.

Payoneer Global Stock Down 1.3%

Shares of PAYO opened at $6.81 on Friday. The stock has a market capitalization of $2.46 billion, a P/E ratio of 22.70 and a beta of 0.98. Payoneer Global Inc. has a twelve month low of $5.03 and a twelve month high of $11.29. The company has a 50 day moving average of $6.85 and a 200-day moving average of $7.91.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a net margin of 11.32% and a return on equity of 15.70%. The firm had revenue of $246.62 million during the quarter, compared to the consensus estimate of $244.52 million. During the same period in the prior year, the business posted $0.08 earnings per share. Payoneer Global's quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

PAYO has been the topic of a number of research reports. Jefferies Financial Group upped their target price on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Needham & Company LLC cut their target price on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group cut their target price on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised Payoneer Global from a "market perform" rating to an "outperform" rating and upped their price target for the company from $7.00 to $9.00 in a research note on Tuesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research note on Thursday. They issued a "buy" rating and a $8.00 price target for the company. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Payoneer Global has an average rating of "Buy" and an average price target of $9.81.

About Payoneer Global

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.

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