Great Lakes Advisors LLC Has $3.73 Million Stake in Payoneer Global Inc. $PAYO

Key Points

• Great Lakes Advisors LLC reduced its holdings in Payoneer Global Inc. by 15.4%, selling 92,582 shares and retaining 510,427 shares worth approximately $3.73 million.
• Several institutional investors have shown interest, with Versant Capital Management increasing its stake by 420.6% and IFP Advisors raising theirs by 47,800% in the first quarter.
• Payoneer Global's earnings report missed consensus expectations, with $0.05 earnings per share against an estimate of $0.06, despite revenues of $260.61 million exceeding projections.

Great Lakes Advisors LLC decreased its position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 15.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 510,427 shares of the company's stock after selling 92,582 shares during the quarter. Great Lakes Advisors LLC owned about 0.14% of Payoneer Global worth $3,731,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Payoneer Global by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,016 shares of the company's stock valued at $132,000 after acquiring an additional 1,808 shares during the period. Advisors Asset Management Inc. raised its position in Payoneer Global by 35.9% in the first quarter. Advisors Asset Management Inc. now owns 11,597 shares of the company's stock worth $85,000 after acquiring an additional 3,066 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in Payoneer Global in the first quarter worth about $25,000. Landscape Capital Management L.L.C. raised its position in Payoneer Global by 28.0% in the first quarter. Landscape Capital Management L.L.C. now owns 15,388 shares of the company's stock worth $112,000 after acquiring an additional 3,369 shares in the last quarter. Finally, Corton Capital Inc. raised its position in Payoneer Global by 27.8% in the first quarter. Corton Capital Inc. now owns 15,971 shares of the company's stock worth $117,000 after acquiring an additional 3,475 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company's stock.

Payoneer Global Stock Down 0.4%

Shares of PAYO stock traded down $0.03 during trading hours on Tuesday, reaching $6.46. 401,951 shares of the company's stock were exchanged, compared to its average volume of 3,331,571. Payoneer Global Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $11.29. The stock has a market capitalization of $2.33 billion, a P/E ratio of 24.83, a P/E/G ratio of 8.55 and a beta of 0.98. The business has a fifty day moving average price of $6.74 and a 200-day moving average price of $6.87.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%.The business had revenue of $260.61 million for the quarter, compared to analyst estimates of $253.17 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts expect that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

PAYO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price target on the stock. Jefferies Financial Group boosted their price objective on Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Wall Street Zen downgraded Payoneer Global from a "hold" rating to a "sell" rating in a report on Tuesday, September 9th. Needham & Company LLC boosted their price objective on Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Citigroup restated a "buy" rating and set a $10.00 price objective (down previously from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Payoneer Global presently has an average rating of "Moderate Buy" and a consensus price target of $10.06.

About Payoneer Global

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.