New York State Common Retirement Fund Increases Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

New York State Common Retirement Fund boosted its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 495.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 496,507 shares of the company's stock after purchasing an additional 413,171 shares during the quarter. New York State Common Retirement Fund owned about 0.14% of Payoneer Global worth $3,629,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PAYO. Cerity Partners LLC purchased a new stake in shares of Payoneer Global during the 1st quarter valued at about $96,000. Envestnet Asset Management Inc. purchased a new stake in shares of Payoneer Global during the 1st quarter valued at about $1,038,000. Principal Financial Group Inc. raised its position in shares of Payoneer Global by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,593,475 shares of the company's stock valued at $11,648,000 after buying an additional 44,087 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Payoneer Global by 559.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock valued at $62,000 after buying an additional 7,195 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in shares of Payoneer Global by 7.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 152,788 shares of the company's stock valued at $1,117,000 after buying an additional 10,490 shares in the last quarter. Hedge funds and other institutional investors own 82.22% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a research note on Thursday, July 17th. They issued a "buy" rating and a $8.00 target price on the stock. Citigroup reissued 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. The Goldman Sachs Group dropped their price target on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Jefferies Financial Group lifted their target price on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods raised shares of 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 note on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Payoneer Global currently has a consensus rating of "Buy" and an average target price of $9.81.

Insider Buying and Selling

In other news, Director Susanna Morgan sold 16,180 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.77, for a total transaction of $109,538.60. Following the transaction, the director directly owned 80,902 shares of the company's stock, valued at $547,706.54. This represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.58% of the company's stock.

Payoneer Global Price Performance

PAYO stock opened at $6.84 on Wednesday. The company has a fifty day moving average price of $6.85 and a 200 day moving average price of $7.89. Payoneer Global Inc. has a 12 month low of $5.03 and a 12 month high of $11.29. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 22.80 and a beta of 0.98.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a net margin of 11.32% and a return on equity of 15.70%. The business had revenue of $246.62 million during the quarter, compared to analysts' expectations of $244.52 million. During the same quarter last year, the company earned $0.08 EPS. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, analysts anticipate that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

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.

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