GAMMA Investing LLC Acquires 42,834 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

GAMMA Investing LLC lifted its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 519.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,075 shares of the company's stock after buying an additional 42,834 shares during the quarter. GAMMA Investing LLC's holdings in Payoneer Global were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of PAYO. Quarry LP acquired a new stake in Payoneer Global in the fourth quarter worth $29,000. Smartleaf Asset Management LLC grew its stake in shares of Payoneer Global by 405.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company's stock valued at $38,000 after buying an additional 3,064 shares during the period. Versant Capital Management Inc increased its position in Payoneer Global by 420.6% in the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock valued at $37,000 after buying an additional 4,067 shares in the last quarter. Blue Trust Inc. raised its stake in Payoneer Global by 21.2% during the 4th quarter. Blue Trust Inc. now owns 5,380 shares of the company's stock worth $54,000 after buying an additional 940 shares during the period. Finally, CreativeOne Wealth LLC bought a new position in Payoneer Global in the fourth quarter worth approximately $103,000. Institutional investors own 82.22% of the company's stock.

Payoneer Global Trading Up 3.8%

Shares of PAYO traded up $0.25 during trading hours on Tuesday, reaching $6.91. 2,110,306 shares of the stock traded hands, compared to its average volume of 3,201,295. Payoneer Global Inc. has a 52 week low of $5.03 and a 52 week high of $11.29. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 23.03 and a beta of 0.99. The stock has a fifty day simple moving average of $6.81 and a 200 day simple moving average of $8.34.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $246.62 million for the quarter, compared to the consensus estimate of $244.52 million. Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. Payoneer Global's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 EPS. Analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Susanna Morgan sold 16,180 shares of the firm's stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.58% of the company's stock.

Analyst Ratings Changes

PAYO has been the subject of several recent research reports. The Goldman Sachs Group decreased their price objective on Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $7.00 to $9.00 in a research note on Tuesday, May 13th. Needham & Company LLC dropped their price objective on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Jefferies Financial Group boosted their target price 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. Finally, Citigroup restated a "buy" rating and issued a $10.00 target price (down previously from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $10.44.

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.