Flputnam Investment Management Co. Makes New Investment in Payoneer Global Inc. $PAYO

Key Points

• Flputnam Investment Management purchased 214,042 Payoneer Global shares worth approximately $1.52 million, while institutional investors collectively own 82.22% of the company.
• Analyst sentiment has weakened, with several firms downgrading Payoneer to “Hold.” The stock has an average rating of “Hold” and an average price target of $7.40.
• Payoneer reported quarterly revenue of $274.26 million, up 5.2% year over year and above estimates, but earnings per share of negative $0.01 missed the $0.06 consensus estimate. CFO Beatrice Ordonez also sold 25,000 shares under a pre-arranged trading plan.

Flputnam Investment Management Co. purchased a new position in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 214,042 shares of the company's stock, valued at approximately $1,524,000. Flputnam Investment Management Co. owned approximately 0.06% of Payoneer Global as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PAYO. Van ECK Associates Corp increased its holdings in shares of Payoneer Global by 2.4% in the 4th quarter. Van ECK Associates Corp now owns 84,678 shares of the company's stock valued at $476,000 after acquiring an additional 1,977 shares during the last quarter. Susquehanna International Group LLP boosted its holdings in Payoneer Global by 9.5% in the third quarter. Susquehanna International Group LLP now owns 24,637 shares of the company's stock worth $149,000 after purchasing an additional 2,144 shares during the period. ProShare Advisors LLC increased its stake in Payoneer Global by 4.1% during the fourth quarter. ProShare Advisors LLC now owns 54,909 shares of the company's stock valued at $309,000 after purchasing an additional 2,145 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Payoneer Global by 5.8% during the fourth quarter. LPL Financial LLC now owns 42,211 shares of the company's stock worth $237,000 after purchasing an additional 2,304 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Payoneer Global by 8.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 31,677 shares of the company's stock worth $178,000 after purchasing an additional 2,368 shares during the period. Institutional investors and hedge funds own 82.22% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on PAYO shares. Wall Street Zen raised shares of Payoneer Global from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Citigroup lowered shares of Payoneer Global from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $10.00 to $7.40 in a research note on Tuesday, June 16th. Needham & Company LLC cut shares of Payoneer Global from a "buy" rating to a "hold" rating in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft downgraded Payoneer Global from a "buy" rating to a "hold" rating in a research note on Friday, August 7th. Finally, William Blair lowered Payoneer Global from an "outperform" rating to a "hold" rating in a report on Monday, June 15th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $7.40.

Insider Activity at Payoneer Global

In other news, CFO Beatrice Ordonez sold 25,000 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the sale, the chief financial officer 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 filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.06% of the company's stock.

Payoneer Global Stock Performance

Payoneer Global stock opened at $7.13 on Tuesday. Payoneer Global Inc. has a 52 week low of $4.08 and a 52 week high of $7.18. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 50.93, a PEG ratio of 1.49 and a beta of 0.96. The company's 50-day moving average price is $7.06 and its two-hundred day moving average price is $5.78.

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

Payoneer Global 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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