Envestnet Asset Management Inc. Raises Stock Holdings in Paysafe Limited (NYSE:PSFE)

Key Points

• Envestnet Asset Management Inc. increased its stake in Paysafe Limited by 96.3% in Q1, owning a total of 49,244 shares valued at $773,000.
• In recent analysts' reports, Bank of America upgraded Paysafe to a neutral rating with a price target of $14.30, while Susquehanna lowered its target from $17.00 to $15.00.
• The stock price opened at $11.41 on Monday, reflecting a 6.1% decline recently, with a market cap of $683.34 million.

Envestnet Asset Management Inc. boosted its holdings in shares of Paysafe Limited (NYSE:PSFE - Free Report) by 96.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,244 shares of the company's stock after purchasing an additional 24,163 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Paysafe worth $773,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PSFE. Principal Financial Group Inc. lifted its position in shares of Paysafe by 2.8% in the first quarter. Principal Financial Group Inc. now owns 38,769 shares of the company's stock valued at $608,000 after acquiring an additional 1,042 shares in the last quarter. Spire Wealth Management lifted its position in shares of Paysafe by 87.8% in the first quarter. Spire Wealth Management now owns 2,845 shares of the company's stock valued at $45,000 after acquiring an additional 1,330 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Paysafe by 16.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,207 shares of the company's stock valued at $209,000 after acquiring an additional 1,709 shares in the last quarter. State of Wyoming lifted its position in shares of Paysafe by 38.2% in the fourth quarter. State of Wyoming now owns 7,162 shares of the company's stock valued at $122,000 after acquiring an additional 1,980 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Paysafe by 11.0% in the fourth quarter. MetLife Investment Management LLC now owns 20,078 shares of the company's stock valued at $343,000 after acquiring an additional 1,990 shares in the last quarter. Hedge funds and other institutional investors own 54.39% of the company's stock.

Analysts Set New Price Targets

PSFE has been the subject of several recent research reports. Bank of America raised Paysafe from an "underperform" rating to a "neutral" rating and set a $14.30 price target for the company in a report on Friday, May 16th. Susquehanna cut their price target on Paysafe from $17.00 to $15.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd.

Paysafe Trading Down 6.1%

NYSE:PSFE opened at $11.41 on Monday. The firm has a market cap of $683.34 million, a PE ratio of -570.50, a price-to-earnings-growth ratio of 0.32 and a beta of 1.78. The stock has a fifty day moving average price of $12.85 and a 200 day moving average price of $15.28. Paysafe Limited has a 12-month low of $11.37 and a 12-month high of $26.25. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.75.

Paysafe Profile

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.

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