BlackRock Inc. Acquires Shares of 39,055,605 Payoneer Global Inc. $PAYO

Key Points

• BlackRock acquired 39.1 million Payoneer shares worth approximately $278.1 million, giving it an 11.67% stake. Institutional investors and hedge funds collectively own 82.22% of PAYO.
• Analyst sentiment is cautious: multiple firms downgraded Payoneer to “Hold,” with a consensus rating of “Hold” and an average price target of $7.40.
• Payoneer’s latest quarter showed revenue of $274.3 million, ahead of estimates and up 5.2% year over year, but earnings per share of negative $0.01 missed expectations. The stock opened at $7.12, near its 52-week high of $7.18.

BlackRock Inc. bought a new stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 39,055,605 shares of the company's stock, valued at approximately $278,076,000. BlackRock Inc. owned 11.67% of Payoneer Global as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PAYO. Van ECK Associates Corp increased its holdings in Payoneer Global by 2.4% in the 4th quarter. Van ECK Associates Corp now owns 84,678 shares of the company's stock valued at $476,000 after buying an additional 1,977 shares during the period. Susquehanna International Group LLP increased its stake in Payoneer Global by 9.5% in the third quarter. Susquehanna International Group LLP now owns 24,637 shares of the company's stock valued at $149,000 after acquiring an additional 2,144 shares during the last quarter. ProShare Advisors LLC increased its stake in Payoneer Global by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 54,909 shares of the company's stock valued at $309,000 after acquiring an additional 2,145 shares during the last quarter. LPL Financial LLC raised its position in Payoneer Global by 5.8% during the fourth quarter. LPL Financial LLC now owns 42,211 shares of the company's stock valued at $237,000 after purchasing an additional 2,304 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Payoneer Global by 8.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,677 shares of the company's stock valued at $178,000 after purchasing an additional 2,368 shares in the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAYO has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lowered Payoneer Global from a "moderate buy" rating to a "hold" rating in a research note on Monday, June 15th. Northland Securities set a $7.40 target price on Payoneer Global in a research report on Monday, June 15th. Benchmark downgraded Payoneer Global from a "buy" rating to a "hold" rating in a research note on Thursday, June 18th. Weiss Ratings downgraded shares of Payoneer Global from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Payoneer Global from a "buy" rating to a "hold" rating in a report on Friday, August 7th. 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 MarketBeat, the company has a consensus rating of "Hold" and an average price target of $7.40.

Payoneer Global Stock Performance

PAYO stock opened at $7.12 on Thursday. The company has a market capitalization of $2.41 billion, a P/E ratio of 50.86, a PEG ratio of 1.49 and a beta of 0.96. The company has a fifty day moving average price of $7.10 and a 200-day moving average price of $5.82. 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 issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). The business had revenue of $274.26 million during the quarter, compared to the consensus estimate of $270.98 million. Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.The business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. As a group, sell-side analysts forecast that Payoneer Global Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Payoneer Global

In other news, CFO Beatrice Ordonez sold 25,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.06% of the company's stock.

Payoneer Global Company 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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