Healthcare of Ontario Pension Plan Trust Fund Increases Holdings in Payoneer Global Inc. $PAYO

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its Payoneer Global stake by 29.7% in the first quarter, owning 1.46 million shares valued at approximately $7.06 million. Institutional investors collectively hold 82.22% of the company.
• Analyst sentiment has weakened, with several firms downgrading Payoneer to “Hold” or “Neutral.” The stock has an average rating of “Hold” and an average price target of $7.40.
• Payoneer reported first-quarter adjusted earnings of $0.06 per share, beating estimates by $0.02, while revenue rose 6.1% year over year to $261.6 million. Shares opened at $7.12, near the company’s 12-month high of $7.66.

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 29.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,461,782 shares of the company's stock after purchasing an additional 335,101 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.42% of Payoneer Global worth $7,060,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in shares of Payoneer Global in the first quarter valued at $57,000. First Trust Advisors LP lifted its stake in Payoneer Global by 305.8% during the 1st quarter. First Trust Advisors LP now owns 222,113 shares of the company's stock worth $1,073,000 after acquiring an additional 167,372 shares in the last quarter. Commonwealth Financial Services LLC purchased a new position in Payoneer Global during the 1st quarter valued at about $121,000. Dimensional Fund Advisors LP boosted its holdings in Payoneer Global by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,544,420 shares of the company's stock valued at $36,438,000 after acquiring an additional 263,030 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Payoneer Global by 2.9% during the 1st quarter. Parallel Advisors LLC now owns 258,921 shares of the company's stock valued at $1,251,000 after acquiring an additional 7,415 shares during the period. Hedge funds and other institutional investors own 82.22% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of Payoneer Global from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Needham & Company LLC downgraded shares of Payoneer Global from a "buy" rating to a "hold" rating in a research note on Monday, June 15th. Benchmark lowered shares of Payoneer Global from a "buy" rating to a "hold" rating in a report on Thursday, June 18th. Keefe, Bruyette & Woods cut shares of Payoneer Global from a "moderate buy" rating to a "hold" rating in a research report on Monday, June 15th. Finally, Citigroup downgraded shares of Payoneer Global from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $10.00 to $7.40 in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Payoneer Global currently has an average rating of "Hold" and an average price target of $7.40.

Payoneer Global Trading Down 0.4%

Shares of PAYO opened at $7.12 on Thursday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 0.81 and a beta of 0.95. The firm's fifty day simple moving average is $6.54 and its 200-day simple moving average is $5.64. Payoneer Global Inc. has a twelve month low of $4.08 and a twelve month high of $7.66.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. The company had revenue of $261.60 million for the quarter, compared to analysts' expectations of $255.12 million. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.Payoneer Global's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.05 earnings per share. On average, analysts predict that Payoneer Global Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Beatrice Ordonez sold 25,000 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the transaction, the chief financial officer owned 2,887,266 shares in the company, valued at approximately $20,239,734.66. This represents a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.06% of the company's stock.

Payoneer Global Company 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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