Jupiter Topco LLC Takes Position in Payoneer Global Inc. $PAYO

Key Points

• Jupiter Topco LLC acquired 465,433 Payoneer Global shares worth approximately $3.3 million, giving it a 0.14% stake. Institutional investors collectively own 82.22% of the company.
• Payoneer reported quarterly revenue of $274.26 million, up 5.2% year over year and above estimates, but its adjusted EPS loss of $0.01 missed the $0.06 consensus forecast.
• Analyst sentiment is cautious: eight analysts rate the stock “Hold” and one rates it “Buy,” with a consensus price target of $7.40. Shares recently traded at $7.10, near their 52-week high.

Jupiter Topco LLC bought a new stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 465,433 shares of the company's stock, valued at approximately $3,313,000. Jupiter Topco LLC owned 0.14% of Payoneer Global at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its holdings in Payoneer Global by 372.8% in the fourth quarter. Hsbc Holdings PLC now owns 603,407 shares of the company's stock valued at $3,400,000 after buying an additional 475,776 shares in the last quarter. Isthmus Partners LLC boosted its stake in shares of Payoneer Global by 87.0% during the 1st quarter. Isthmus Partners LLC now owns 545,096 shares of the company's stock worth $2,633,000 after acquiring an additional 253,625 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Payoneer Global during the 2nd quarter valued at about $3,161,000. BlackRock Inc. purchased a new position in shares of Payoneer Global in the 2nd quarter valued at about $278,076,000. Finally, Bank of America Corp DE raised its holdings in Payoneer Global by 17.9% in the 1st quarter. Bank of America Corp DE now owns 3,795,863 shares of the company's stock worth $18,334,000 after purchasing an additional 576,559 shares during the period. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Stock Down 0.1%

Shares of NASDAQ PAYO opened at $7.10 on Wednesday. The firm has a 50-day simple moving average of $7.11 and a 200-day simple moving average of $5.85. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 50.72, a price-to-earnings-growth ratio of 1.49 and a beta of 0.94. Payoneer Global Inc. has a 52 week low of $4.08 and a 52 week high of $7.18.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.07). Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The business had revenue of $274.26 million during the quarter, compared to analyst estimates of $270.98 million. During the same quarter in the previous year, the company posted $0.05 EPS. The firm's revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that Payoneer Global Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PAYO. Needham & Company LLC cut Payoneer Global from a "buy" rating to a "hold" rating in a research report on Monday, June 15th. Benchmark cut shares of Payoneer Global from a "buy" rating to a "hold" rating in a research note on Thursday, June 18th. William Blair lowered shares of Payoneer Global from an "outperform" rating to a "hold" rating in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft lowered shares of Payoneer Global from a "buy" rating to a "hold" rating in a report on Friday, August 7th. Finally, Citigroup downgraded shares of Payoneer Global from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $10.00 to $7.40 in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Payoneer Global currently has a consensus rating of "Hold" and an average target price of $7.40.

Insider Activity

In related news, CFO Beatrice Ordonez sold 25,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the sale, the chief financial officer owned 2,887,266 shares of the company's stock, valued at approximately $20,239,734.66. This trade represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is owned by company insiders.

About Payoneer Global

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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