101,375 Shares in Payoneer Global Inc. (NASDAQ:PAYO) Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC bought a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 101,375 shares of the company's stock, valued at approximately $741,000.

A number of other hedge funds also recently modified their holdings of PAYO. Y Intercept Hong Kong Ltd acquired a new position in Payoneer Global during the fourth quarter valued at approximately $1,276,000. Allspring Global Investments Holdings LLC increased its stake in shares of Payoneer Global by 133.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 97,538 shares of the company's stock valued at $990,000 after purchasing an additional 55,766 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Payoneer Global during the 4th quarter worth $1,809,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Payoneer Global by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,428,185 shares of the company's stock worth $24,379,000 after buying an additional 91,029 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Payoneer Global by 2,262.5% during the 1st quarter. SG Americas Securities LLC now owns 1,215,581 shares of the company's stock worth $8,886,000 after buying an additional 1,164,128 shares during the last quarter. Institutional investors own 82.22% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PAYO. Needham & Company LLC decreased their target price on Payoneer Global from $14.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Citigroup restated a "buy" rating and issued a $10.00 price target (down from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. Jefferies Financial Group upped their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. The Goldman Sachs Group dropped their price objective on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods raised shares of Payoneer Global from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $7.00 to $9.00 in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $10.44.

Payoneer Global Stock Up 3.8%

Shares of PAYO stock traded up $0.25 during trading hours on Tuesday, hitting $6.91. 2,110,306 shares of the company's stock traded hands, compared to its average volume of 3,201,295. The stock has a market cap of $2.50 billion, a PE ratio of 23.03 and a beta of 0.99. The stock's 50 day simple moving average is $6.81 and its 200 day simple moving average is $8.34. 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 announced its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. The company had revenue of $246.62 million for the quarter, compared to the consensus estimate of $244.52 million. During the same period in the prior year, the business earned $0.08 earnings per share. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.77, for a total transaction of $109,538.60. Following the completion of the transaction, the director now owns 80,902 shares in the company, valued at approximately $547,706.54. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.58% of the stock is owned by insiders.

Payoneer Global Company Profile

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.