Envestnet Asset Management Inc. Buys 24,163 Shares of 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. raised its stake in Paysafe Limited (NYSE:PSFE - Free Report) by 96.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 49,244 shares of the company's stock after buying an additional 24,163 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Paysafe worth $773,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in Paysafe by 37.3% during the fourth quarter. American Century Companies Inc. now owns 73,541 shares of the company's stock valued at $1,258,000 after buying an additional 19,988 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Paysafe by 15.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 694,079 shares of the company's stock valued at $11,869,000 after purchasing an additional 91,592 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Paysafe in the 4th quarter valued at approximately $374,000. ExodusPoint Capital Management LP bought a new stake in Paysafe during the fourth quarter worth approximately $1,792,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Paysafe during the 4th quarter worth $240,000. 54.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PSFE has been the subject of a number of research analyst reports. 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. Bank of America upgraded Paysafe from an "underperform" rating to a "neutral" rating and set a $14.30 price target on the stock in a research note on Friday, May 16th.

Paysafe Price Performance

Shares of PSFE traded down $0.29 during trading hours on Thursday, hitting $11.55. The stock had a trading volume of 177,295 shares, compared to its average volume of 390,971. The stock has a market capitalization of $691.79 million, a price-to-earnings ratio of -578.30, a P/E/G ratio of 0.32 and a beta of 1.78. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.16 and a quick ratio of 1.16. The company's fifty day moving average is $12.80 and its two-hundred day moving average is $15.19. Paysafe Limited has a 52 week low of $11.34 and a 52 week high of $26.25.

Paysafe Company 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.