Legato Capital Management LLC Invests $1.07 Million in Nayax Ltd. $NYAX

Key Points

• Legato Capital Management disclosed a new fourth-quarter stake in Nayax, buying 21,185 shares worth about $1.07 million.
• Analyst sentiment on Nayax is mixed: UBS raised its price target to $68, Jefferies reiterated a buy, while Zacks and Wall Street Zen issued bearish downgrades. The stock’s consensus rating remains Hold with an average price target of $74.27.
• Nayax reported quarterly earnings of $0.03 per share, missing estimates, though revenue of $106.86 million came in slightly above expectations. Shares were trading at $67.98, near the top of their 52-week range.

Legato Capital Management LLC purchased a new position in Nayax Ltd. (NASDAQ:NYAX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 21,185 shares of the company's stock, valued at approximately $1,072,000. Legato Capital Management LLC owned 0.06% of Nayax at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in Nayax by 210.5% during the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company's stock valued at $30,000 after purchasing an additional 400 shares during the last quarter. Osaic Holdings Inc. purchased a new stake in shares of Nayax in the 2nd quarter valued at approximately $33,000. Bank of America Corp DE lifted its position in shares of Nayax by 254.9% in the 3rd quarter. Bank of America Corp DE now owns 1,331 shares of the company's stock valued at $63,000 after acquiring an additional 956 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Nayax in the 3rd quarter valued at approximately $128,000. Finally, Ascent Group LLC purchased a new stake in shares of Nayax in the 4th quarter valued at approximately $206,000. 34.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on NYAX shares. UBS Group upped their price target on shares of Nayax from $55.00 to $68.00 and gave the company a "neutral" rating in a research report on Wednesday, May 13th. Zacks Research downgraded shares of Nayax from a "hold" rating to a "strong sell" rating in a research report on Wednesday, May 13th. Jefferies Financial Group restated a "buy" rating and issued a $79.80 price target on shares of Nayax in a research report on Thursday, May 14th. Wall Street Zen downgraded shares of Nayax from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, William Blair restated an "outperform" rating on shares of Nayax in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $74.27.

Insider Buying and Selling

In related news, CFO Sagit Manor sold 1,754 shares of the company's stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $63.94, for a total transaction of $112,150.76. Following the completion of the sale, the chief financial officer directly owned 47,523 shares of the company's stock, valued at approximately $3,038,620.62. This represents a 3.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aaron Samuel Greenberg sold 1,002 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $63.94, for a total transaction of $64,067.88. Following the completion of the sale, the insider directly owned 25,753 shares of the company's stock, valued at approximately $1,646,646.82. This trade represents a 3.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 8,533 shares of company stock valued at $550,228.

Nayax Stock Performance

Shares of NYAX opened at $67.98 on Monday. The company's fifty day moving average is $62.97 and its 200-day moving average is $55.15. Nayax Ltd. has a 12 month low of $38.50 and a 12 month high of $75.00. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 86.05 and a beta of 0.39. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.53.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). Nayax had a return on equity of 14.09% and a net margin of 6.95%.The business had revenue of $106.86 million for the quarter, compared to analyst estimates of $105.64 million. Equities analysts expect that Nayax Ltd. will post 0.73 EPS for the current fiscal year.

About Nayax

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.

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