Hsbc Holdings PLC Purchases Shares of 330,300 Payoneer Global Inc. $PAYO

Key Points

• Hsbc Holdings PLC bought 330,300 Payoneer Global shares worth approximately $2.34 million, giving it about a 0.10% stake. Institutional investors and hedge funds collectively own 82.22% of PAYO.
• Analyst sentiment is cautious: eight analysts rate PAYO “Hold” and one rates it “Buy,” with a consensus price target of $7.40. Several firms recently downgraded the stock from buy or outperform to hold.
• Payoneer reported quarterly revenue of $274.26 million, up 5.2% year over year and above estimates, but missed earnings expectations with a loss of $0.01 per share versus the consensus estimate of $0.06.

Hsbc Holdings PLC bought a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 330,300 shares of the company's stock, valued at approximately $2,340,000. Hsbc Holdings PLC owned about 0.10% of Payoneer Global as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYO. Van ECK Associates Corp lifted its holdings in Payoneer Global by 2.4% in the fourth quarter. Van ECK Associates Corp now owns 84,678 shares of the company's stock valued at $476,000 after buying an additional 1,977 shares during the period. Susquehanna International Group LLP raised its position in shares of Payoneer Global by 9.5% during the 3rd quarter. Susquehanna International Group LLP now owns 24,637 shares of the company's stock valued at $149,000 after acquiring an additional 2,144 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Payoneer Global by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 54,909 shares of the company's stock valued at $309,000 after acquiring an additional 2,145 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Payoneer Global by 5.8% in the 4th quarter. LPL Financial LLC now owns 42,211 shares of the company's stock valued at $237,000 after purchasing an additional 2,304 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Payoneer Global by 8.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 31,677 shares of the company's stock valued at $178,000 after purchasing an additional 2,368 shares during the period. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Payoneer Global

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer directly owned 2,887,266 shares of the company's stock, valued at $20,239,734.66. The trade was a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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.

Wall Street Analysts Forecast Growth

PAYO has been the subject of a number of recent analyst reports. Needham & Company LLC downgraded Payoneer Global from a "buy" rating to a "hold" rating in a report on Monday, June 15th. Keefe, Bruyette & Woods lowered Payoneer Global from a "moderate buy" rating to a "hold" rating in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft cut Payoneer Global from a "buy" rating to a "hold" rating in a research note on Friday, August 7th. William Blair downgraded shares of Payoneer Global from an "outperform" rating to a "hold" rating in a research report on Monday, June 15th. Finally, Weiss Ratings raised shares of Payoneer Global from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, September 1st. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $7.40.

Payoneer Global Price Performance

PAYO opened at $7.12 on Friday. The business's 50-day moving average price is $7.12 and its two-hundred day moving average price is $5.95. Payoneer Global Inc. has a 1 year low of $4.08 and a 1 year high of $7.18. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 50.86, a P/E/G ratio of 1.82 and a beta of 0.94.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.The firm had revenue of $274.26 million for the quarter, compared to analyst estimates of $270.98 million. During the same period in the prior year, the company earned $0.05 earnings per share. The firm's quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Payoneer Global Inc. will post 0.16 earnings per share for the current fiscal year.

Payoneer Global Profile

Payoneer Global Inc NASDAQ: PAYO is a financial technology company that provides digital commerce and payment services to small and medium-sized businesses, marketplaces, freelancers and other organizations. Its platform is designed to help customers receive funds from international clients and marketplaces, make cross-border payments, manage business finances and access global commerce opportunities.

Payoneer's products and services include multi-currency receiving accounts, global payouts, supplier and business payments, payment cards, foreign-exchange services and working-capital solutions.

Want to see what other hedge funds are holding PAYO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Payoneer Global Inc. (NASDAQ:PAYO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.