Payoneer Global Inc. (NASDAQ:PAYO) Shares Purchased by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Payoneer Global Inc. by 706.1% in Q1, now holding 47,626 shares valued at $348,000.
• A number of hedge funds, including Susquehanna Capital Management and Price T Rowe Associates, significantly boosted their positions in Payoneer Global, indicating strong institutional interest in the stock.
• Wall Street analysts have a positive outlook for Payoneer Global, with the stock receiving several buy ratings and an average price target of $10.06.

Federated Hermes Inc. boosted its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 706.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,626 shares of the company's stock after acquiring an additional 41,718 shares during the quarter. Federated Hermes Inc.'s holdings in Payoneer Global were worth $348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Susquehanna Capital Management LLC increased its stake in Payoneer Global by 290.3% during the fourth quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company's stock worth $253,700,000 after acquiring an additional 18,794,047 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Payoneer Global by 5.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,709,989 shares of the company's stock worth $87,450,000 after buying an additional 440,231 shares during the period. Geode Capital Management LLC boosted its position in shares of Payoneer Global by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,777,377 shares of the company's stock worth $68,059,000 after buying an additional 156,252 shares during the period. Millennium Management LLC boosted its position in shares of Payoneer Global by 0.3% during the fourth quarter. Millennium Management LLC now owns 6,523,595 shares of the company's stock worth $65,497,000 after buying an additional 21,149 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Payoneer Global by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,982,879 shares of the company's stock worth $60,067,000 after buying an additional 377,008 shares during the period. Institutional investors and hedge funds own 82.22% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup restated a "buy" rating and set a $10.00 price target (down from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $7.00 to $9.00 in a report on Tuesday, May 13th. Needham & Company LLC lifted their target price on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Jefferies Financial Group lifted their target price on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a report on Thursday, July 17th. They set a "buy" rating and a $8.00 price target for the company. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $10.06.

Insider Transactions at Payoneer Global

In related news, Director Susanna Morgan sold 16,180 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.77, for a total value of $109,538.60. Following the transaction, the director owned 80,902 shares in the company, valued at $547,706.54. The trade was a 16.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.58% of the stock is owned by company insiders.

Payoneer Global Trading Down 2.3%

Shares of Payoneer Global stock traded down $0.16 on Thursday, hitting $6.66. The stock had a trading volume of 924,453 shares, compared to its average volume of 3,416,062. Payoneer Global Inc. has a 52-week low of $5.71 and a 52-week high of $11.29. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 8.92 and a beta of 0.97. The company's 50 day moving average price is $6.76 and its 200 day moving average price is $7.48.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The firm had revenue of $260.61 million during the quarter, compared to analysts' expectations of $253.17 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. Analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

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.