Carmignac Gestion Makes New $3.04 Million Investment in Payoneer Global Inc. $PAYO

Key Points

• Carmignac Gestion purchased 426,354 Payoneer Global shares worth approximately $3.04 million in the second quarter, giving it a 0.13% stake. Institutional investors collectively own 82.22% of the company.
• Analyst sentiment is cautious: Payoneer has one Buy rating and eight Holds, with a consensus rating of Hold and a $7.40 price target.
• Payoneer shares recently traded at $7.13, near their 12-month high of $7.18. In its latest quarter, revenue rose 5.2% year over year to $274.26 million, but adjusted earnings per share fell short of estimates.

Carmignac Gestion purchased a new stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 426,354 shares of the company's stock, valued at approximately $3,036,000. Carmignac Gestion owned about 0.13% of Payoneer Global at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PAYO. Leonteq Securities AG raised its stake in Payoneer Global by 72.0% during the first quarter. Leonteq Securities AG now owns 6,496 shares of the company's stock worth $31,000 after purchasing an additional 2,720 shares during the period. Osaic Holdings Inc. grew its stake in shares of Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company's stock valued at $33,000 after buying an additional 3,298 shares during the period. Nykredit A S acquired a new stake in shares of Payoneer Global during the 2nd quarter worth approximately $39,000. GAMMA Investing LLC raised its position in shares of Payoneer Global by 73.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,777 shares of the company's stock valued at $41,000 after buying an additional 2,453 shares during the period. Finally, Resonant Capital Advisors LLC purchased a new stake in shares of Payoneer Global during the 1st quarter valued at approximately $49,000. Hedge funds and other institutional investors own 82.22% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PAYO. Northland Securities set a $7.40 target price on Payoneer Global in a research note on Monday, June 15th. William Blair lowered Payoneer Global from an "outperform" rating to a "hold" rating in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft cut Payoneer Global from a "buy" rating to a "hold" rating in a report on Friday, August 7th. Keefe, Bruyette & Woods downgraded Payoneer Global from a "moderate buy" rating to a "hold" rating in a research report on Monday, June 15th. Finally, Citigroup lowered shares of Payoneer Global from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $10.00 to $7.40 in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.40.

Insiders Place Their Bets

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer directly owned 2,887,266 shares in the company, valued at $20,239,734.66. This represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is currently owned by corporate insiders.

Payoneer Global Stock Down 0.6%

NASDAQ PAYO traded down $0.04 on Tuesday, reaching $7.13. The stock had a trading volume of 2,157,689 shares, compared to its average volume of 5,124,208. The stock has a fifty day moving average price of $7.12 and a two-hundred day moving average price of $5.90. Payoneer Global Inc. has a 12-month low of $4.08 and a 12-month high of $7.18. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 50.93, a P/E/G ratio of 1.50 and a beta of 0.94.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.07). Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.The firm had revenue of $274.26 million for the quarter, compared to analysts' expectations of $270.98 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The company's quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Payoneer Global Inc. will post 0.2 earnings per share for the current fiscal year.

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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