Invesco Ltd. Acquires 1,352,438 Shares of Payoneer Global Inc. $PAYO

Key Points

• Invesco Ltd. increased its stake in Payoneer Global Inc. by 136.4% in Q1, now owning approximately 2.34 million shares valued at around $17.13 million.
• Institutional investors hold a significant share of the company, with a collective ownership of 82.22% in Payoneer Global.
• Despite a revenue increase of 8.8% year-over-year, Payoneer reported an earnings miss with EPS of $0.05, falling short of the consensus estimate of $0.06.

Invesco Ltd. lifted its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 136.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,343,706 shares of the company's stock after purchasing an additional 1,352,438 shares during the quarter. Invesco Ltd. owned about 0.65% of Payoneer Global worth $17,132,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PAYO. Covestor Ltd lifted its holdings in Payoneer Global by 1,429.4% in the 1st quarter. Covestor Ltd now owns 21,044 shares of the company's stock valued at $154,000 after purchasing an additional 19,668 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Payoneer Global by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,016 shares of the company's stock worth $132,000 after purchasing an additional 1,808 shares in the last quarter. Vanguard Group Inc. grew 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 acquiring an additional 3,656,056 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Payoneer Global during the 1st quarter valued at approximately $445,000. Finally, Federated Hermes Inc. lifted its stake in Payoneer Global by 706.1% during the first quarter. Federated Hermes Inc. now owns 47,626 shares of the company's stock worth $348,000 after purchasing an additional 41,718 shares during the last quarter. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

Payoneer Global Stock Up 0.4%

NASDAQ PAYO traded up $0.03 on Wednesday, reaching $6.79. The company had a trading volume of 2,772,482 shares, compared to its average volume of 3,980,093. The stock's 50 day moving average is $6.76 and its 200-day moving average is $7.21. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 8.90 and a beta of 0.97. 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 data on Wednesday, August 6th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $260.61 million during the quarter, compared to the consensus estimate of $253.17 million. Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS. As a group, analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PAYO shares. Keefe, Bruyette & Woods raised Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $7.00 to $9.00 in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research report on Thursday, July 17th. They set a "buy" rating and a $8.00 price objective for the company. Jefferies Financial Group lifted their price target on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a report on Tuesday, May 27th. Needham & Company LLC raised their price objective on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen downgraded Payoneer Global from a "hold" rating to a "sell" rating in a research report on Sunday. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.06.

Insider Activity

In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total value of $109,538.60. Following the completion of the transaction, the director directly owned 80,902 shares in the company, valued at $547,706.54. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.58% of the company's stock.

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.