Jefferies Financial Group Inc. Invests $445,000 in Payoneer Global Inc. (NASDAQ:PAYO)

Key Points

• Jefferies Financial Group acquired 60,936 shares valued at approximately $445,000 in Payoneer Global Inc. during the first quarter, as per its SEC filing.
• Several hedge funds, including JPMorgan Chase & Co. and Pictet Asset Management, significantly increased their stakes in Payoneer Global, indicating strong institutional support.
• Analysts have raised price targets for Payoneer Global to as high as $10.00, with an average rating of "Buy" reflecting positive outlook on the company's performance.

Jefferies Financial Group Inc. purchased a new stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 60,936 shares of the company's stock, valued at approximately $445,000.

Other hedge funds have also made changes to their positions in the company. Susquehanna Capital Management LLC lifted its holdings in Payoneer Global by 290.3% in the fourth quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company's stock valued at $253,700,000 after acquiring an additional 18,794,047 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Payoneer Global by 5.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,709,989 shares of the company's stock valued at $87,450,000 after purchasing an additional 440,231 shares during the period. Geode Capital Management LLC lifted its stake in shares of Payoneer Global by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,777,377 shares of the company's stock valued at $68,059,000 after purchasing an additional 156,252 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Payoneer Global by 0.3% during the 4th quarter. Millennium Management LLC now owns 6,523,595 shares of the company's stock worth $65,497,000 after purchasing an additional 21,149 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Payoneer Global by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,982,879 shares of the company's stock worth $60,067,000 after purchasing an additional 377,008 shares during the period. Hedge funds and other institutional investors own 82.22% of the company's stock.

Insider Transactions at Payoneer Global

In other news, Director Susanna Morgan sold 16,180 shares of Payoneer Global stock in a transaction dated 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 owned 80,902 shares in the company, valued at approximately $547,706.54. This trade represents a 16.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.58% of the stock is owned by corporate insiders.

Payoneer Global Stock Down 5.8%

PAYO stock traded down $0.43 during midday trading on Thursday, hitting $6.99. The company's stock had a trading volume of 6,095,298 shares, compared to its average volume of 3,282,916. The firm has a 50-day simple moving average of $6.77 and a 200-day simple moving average of $7.58. The firm has a market capitalization of $2.53 billion, a P/E ratio of 26.89 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The company had revenue of $260.61 million during the quarter, compared to analyst estimates of $253.17 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. The firm's revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts expect that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PAYO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They issued a "buy" rating and a $8.00 target price on the stock. Jefferies Financial Group upped their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Citigroup reaffirmed a "buy" rating and set a $10.00 price objective (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Needham & Company LLC boosted their target price on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $7.00 to $9.00 in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Payoneer Global presently has a consensus rating of "Buy" and a consensus target price of $10.06.

Payoneer Global 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.