GSA Capital Partners LLP Buys 75,311 Shares of Paysign, Inc. (NASDAQ:PAYS)

Key Points

• GSA Capital Partners LLP has increased its stake in Paysign, Inc. by 38.3%, owning approximately 271,781 shares worth about $576,000 following the purchase of 75,311 additional shares.
• Paysign reported earnings of $0.05 per share for the last quarter, surpassing analysts' expectations of $0.04 and achieving a revenue of $18.60 million.
• Several analysts have raised their price targets for Paysign, with LADENBURG THALM/SH SH increasing their target from $7.25 to $8.25 and maintaining a "buy" rating on the stock.

GSA Capital Partners LLP lifted its stake in shares of Paysign, Inc. (NASDAQ:PAYS - Free Report) by 38.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,781 shares of the company's stock after purchasing an additional 75,311 shares during the quarter. GSA Capital Partners LLP owned about 0.51% of Paysign worth $576,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PDT Partners LLC bought a new stake in Paysign in the 4th quarter valued at about $39,000. Wells Fargo & Company MN grew its stake in Paysign by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 15,385 shares of the company's stock valued at $46,000 after acquiring an additional 5,243 shares during the period. Royce & Associates LP increased its holdings in shares of Paysign by 36.5% during the first quarter. Royce & Associates LP now owns 19,319 shares of the company's stock valued at $41,000 after acquiring an additional 5,166 shares in the last quarter. Occudo Quantitative Strategies LP increased its holdings in shares of Paysign by 56.5% during the fourth quarter. Occudo Quantitative Strategies LP now owns 28,429 shares of the company's stock valued at $86,000 after acquiring an additional 10,268 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of Paysign by 27.1% during the fourth quarter. Cubist Systematic Strategies LLC now owns 39,579 shares of the company's stock worth $120,000 after purchasing an additional 8,444 shares during the period. Institutional investors own 25.89% of the company's stock.

Paysign Stock Down 4.0%

Shares of NASDAQ:PAYS opened at $7.14 on Monday. The business's 50 day moving average is $6.45 and its 200 day moving average is $3.93. Paysign, Inc. has a 12-month low of $1.80 and a 12-month high of $8.88. The stock has a market cap of $387.12 million, a price-to-earnings ratio of 64.91 and a beta of 0.78.

Paysign (NASDAQ:PAYS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. Paysign had a return on equity of 19.49% and a net margin of 9.55%. The business had revenue of $18.60 million for the quarter, compared to analysts' expectations of $17.49 million. As a group, equities research analysts expect that Paysign, Inc. will post 0.21 earnings per share for the current year.

Insider Transactions at Paysign

In other news, Director Daniel R. Henry acquired 19,800 shares of Paysign stock in a transaction on Wednesday, May 14th. The stock was acquired at an average cost of $3.42 per share, with a total value of $67,716.00. Following the transaction, the director owned 99,800 shares of the company's stock, valued at approximately $341,316. This trade represents a 24.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Newcomer sold 168,000 shares of Paysign stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $4.51, for a total transaction of $757,680.00. Following the transaction, the chief executive officer directly owned 8,768,886 shares in the company, valued at approximately $39,547,675.86. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,000 shares of company stock worth $1,277,877 over the last three months. 22.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. LADENBURG THALM/SH SH lifted their price target on shares of Paysign from $7.25 to $8.25 and gave the company a "buy" rating in a research report on Friday, May 9th. Lake Street Capital lifted their price objective on shares of Paysign from $7.00 to $9.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, DA Davidson set a $8.00 target price on shares of Paysign in a research report on Friday, June 13th.

Paysign Profile

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.

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