Bank of New York Mellon Corp Sells 107,173 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Bank of New York Mellon Corp lessened its holdings in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 6.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,580,982 shares of the company's stock after selling 107,173 shares during the quarter. Bank of New York Mellon Corp owned about 0.44% of Payoneer Global worth $11,557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Farther Finance Advisors LLC purchased a new stake in shares of Payoneer Global during the first quarter valued at approximately $25,000. Quarry LP purchased a new stake in shares of Payoneer Global during the fourth quarter valued at approximately $29,000. Versant Capital Management Inc grew its holdings in shares of Payoneer Global by 420.6% during the first quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock valued at $37,000 after buying an additional 4,067 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Payoneer Global by 559.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock valued at $62,000 after buying an additional 7,195 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Payoneer Global by 86.4% during the first quarter. Creative Financial Designs Inc. ADV now owns 11,956 shares of the company's stock valued at $87,000 after buying an additional 5,542 shares during the last quarter. Hedge funds and other institutional investors own 82.22% of the company's stock.

Payoneer Global Price Performance

Payoneer Global stock traded down $0.09 during midday trading on Thursday, reaching $6.72. 1,773,901 shares of the company traded hands, compared to its average volume of 2,466,582. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 22.40 and a beta of 0.98. The business has a 50 day moving average of $6.82 and a two-hundred day moving average of $7.83. Payoneer Global Inc. has a 12 month low of $5.03 and a 12 month high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). The company had revenue of $246.62 million for the quarter, compared to the consensus estimate of $244.52 million. Payoneer Global had a net margin of 11.32% and a return on equity of 15.70%. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $0.08 EPS. As a group, equities analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.77, for a total value of $109,538.60. Following the transaction, the director directly owned 80,902 shares in the company, valued at approximately $547,706.54. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.58% of the company's stock.

Analyst Ratings Changes

PAYO has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Needham & Company LLC cut their price target on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a "market perform" rating to an "outperform" rating and increased their price target for the company from $7.00 to $9.00 in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a report on Thursday, July 17th. They set a "buy" rating and a $8.00 price target on the stock. Finally, Jefferies Financial Group increased their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus 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.