Great Lakes Advisors LLC Sells 92,582 Shares of 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 lowered its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 510,427 shares of the company's stock after selling 92,582 shares during the period. Great Lakes Advisors LLC owned approximately 0.14% of Payoneer Global worth $3,731,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Payoneer Global by 12.1% in the first quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company's stock valued at $247,675,000 after purchasing an additional 3,656,056 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Payoneer Global by 15.1% in the first quarter. American Century Companies Inc. now owns 9,403,250 shares of the company's stock worth $68,738,000 after buying an additional 1,236,598 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Payoneer Global by 3.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,970,295 shares of the company's stock valued at $65,574,000 after buying an additional 260,306 shares during the last quarter. Millennium Management LLC boosted its position in Payoneer Global by 15.5% during the 1st quarter. Millennium Management LLC now owns 7,537,691 shares of the company's stock valued at $55,101,000 after buying an additional 1,014,096 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Payoneer Global by 50.1% in the 1st quarter. Victory Capital Management Inc. now owns 4,395,656 shares of the company's stock worth $32,132,000 after acquiring an additional 1,467,357 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PAYO. Deutsche Bank Aktiengesellschaft began coverage on shares of Payoneer Global in a report on Thursday, July 17th. They set a "buy" rating and a $8.00 target price for the company. Wall Street Zen lowered Payoneer Global from a "hold" rating to a "sell" rating in a research report on Tuesday. Needham & Company LLC upped 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. Citigroup reiterated a "buy" rating and issued a $10.00 price target (down previously from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Finally, Jefferies Financial Group boosted their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.06.

Payoneer Global Stock Down 2.1%

PAYO traded down $0.14 during mid-day trading on Friday, reaching $6.50. 1,899,270 shares of the company traded hands, compared to its average volume of 2,711,796. The company's fifty day moving average price is $6.74 and its 200-day moving average price is $6.92. The stock has a market capitalization of $2.34 billion, a P/E ratio of 25.00, a P/E/G ratio of 8.74 and a beta of 0.98. Payoneer Global Inc. has a 52-week low of $5.71 and a 52-week high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly 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). The business had revenue of $260.61 million during the quarter, compared to the consensus estimate of $253.17 million. Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%.The firm's revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 earnings per share. As a group, sell-side analysts forecast that Payoneer Global Inc. will post 0.34 earnings per share 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.