Nantahala Capital Management LLC Sells 1,390,548 Shares of Payoneer Global Inc. $PAYO

Key Points

• Nantahala Capital Management LLC significantly reduced its stake in Payoneer Global Inc. by 90.4%, holding 148,052 shares valued at $1.08 million after selling over 1.39 million shares in Q1.
• Multiple hedge funds altered their positions in Payoneer, with some increasing their stakes, and institutional investors now own approximately 82.22% of the company's stock.
• Payoneer Global's stock has seen a recent rise of 1.0%, with the company reporting a revenue increase of 8.8% year-over-year despite missing EPS estimates in its latest earnings report.

Nantahala Capital Management LLC lowered its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 90.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,052 shares of the company's stock after selling 1,390,548 shares during the period. Nantahala Capital Management LLC's holdings in Payoneer Global were worth $1,082,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in Payoneer Global by 299.7% in the first quarter. Royal Bank of Canada now owns 158,997 shares of the company's stock valued at $1,162,000 after acquiring an additional 119,219 shares in the last quarter. Graham Capital Management L.P. boosted its holdings in Payoneer Global by 303.5% in the first quarter. Graham Capital Management L.P. now owns 206,935 shares of the company's stock valued at $1,513,000 after acquiring an additional 155,650 shares in the last quarter. DRW Securities LLC bought a new stake in Payoneer Global in the first quarter valued at $103,000. Magnetar Financial LLC bought a new stake in Payoneer Global in the first quarter valued at $651,000. Finally, Driehaus Capital Management LLC boosted its holdings in Payoneer Global by 21.6% in the first quarter. Driehaus Capital Management LLC now owns 2,337,504 shares of the company's stock valued at $17,087,000 after acquiring an additional 414,695 shares in the last quarter. Institutional investors own 82.22% of the company's stock.

Payoneer Global Stock Performance

Shares of PAYO traded down $0.05 during trading hours on Friday, hitting $6.65. The company had a trading volume of 2,534,595 shares, compared to its average volume of 2,802,339. The firm has a fifty day moving average price of $6.77 and a 200-day moving average price of $7.04. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 8.82 and a beta of 0.98. 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 posted its quarterly earnings results 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 return on equity of 13.42% and a net margin of 9.81%.The company had revenue of $260.61 million during the quarter, compared to analysts' expectations of $253.17 million. During the same period in the prior year, the firm earned $0.09 EPS. Payoneer Global's revenue for the quarter was up 8.8% compared to the same quarter last year. Research analysts anticipate that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PAYO shares. Citigroup restated a "buy" rating and set a $10.00 target price (down previously from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Jefferies Financial Group boosted their target price on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a report on Tuesday, May 27th. Wall Street Zen upgraded shares of Payoneer Global from a "sell" rating to a "hold" rating in a report on Monday, September 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a report on Thursday, July 17th. They set a "buy" rating and a $8.00 target price on the stock. Finally, Needham & Company LLC boosted their target price on shares of Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.06.

About Payoneer Global

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.