OMERS ADMINISTRATION Corp Purchases New Shares in Payoneer Global Inc. $PAYO

Key Points

• OMERS Administration Corp. acquired 315,800 Payoneer Global shares worth approximately $2.25 million, giving it a roughly 0.09% stake. Institutional investors and hedge funds collectively own 82.22% of PAYO.
• Analyst sentiment is mostly cautious: eight analysts rate the stock Hold and one rates it Buy, with an average price target of $7.40. Several firms recently downgraded the shares, including Citigroup, which cut its target from $10.00 to $7.40.
• Payoneer reported quarterly revenue of $274.26 million, up 5.2% year over year and above estimates, but missed earnings expectations with EPS of negative $0.01 versus the consensus estimate of $0.06. CFO Beatrice Ordonez also sold 25,000 shares under a pre-arranged Rule 10b5-1 plan.

OMERS ADMINISTRATION Corp acquired a new position in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 315,800 shares of the company's stock, valued at approximately $2,248,000. OMERS ADMINISTRATION Corp owned approximately 0.09% of Payoneer Global as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYO. Leonteq Securities AG grew its holdings in Payoneer Global by 72.0% during the 1st quarter. Leonteq Securities AG now owns 6,496 shares of the company's stock worth $31,000 after acquiring an additional 2,720 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Payoneer Global by 246.5% in the second quarter. Osaic Holdings Inc. now owns 4,636 shares of the company's stock worth $33,000 after acquiring an additional 3,298 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Payoneer Global by 73.8% during the second quarter. GAMMA Investing LLC now owns 5,777 shares of the company's stock worth $41,000 after purchasing an additional 2,453 shares in the last quarter. Resonant Capital Advisors LLC acquired a new position in shares of Payoneer Global during the first quarter worth approximately $49,000. Finally, CWM LLC grew its stake in shares of Payoneer Global by 178.6% during the fourth quarter. CWM LLC now owns 9,384 shares of the company's stock valued at $53,000 after purchasing an additional 6,016 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Payoneer Global

In related news, CFO Beatrice Ordonez sold 25,000 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer owned 2,887,266 shares in the company, valued at approximately $20,239,734.66. This represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.06% of the company's stock.

Analysts Set New Price Targets

PAYO has been the topic of several research reports. Weiss Ratings downgraded Payoneer Global from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods cut Payoneer Global from a "moderate buy" rating to a "hold" rating in a research note on Monday, June 15th. Citigroup downgraded Payoneer Global from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $10.00 to $7.40 in a research report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft lowered Payoneer Global from a "buy" rating to a "hold" rating in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded Payoneer Global from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $7.40.

Payoneer Global Stock Up 0.1%

PAYO stock opened at $7.12 on Thursday. Payoneer Global Inc. has a twelve month low of $4.08 and a twelve month high of $7.18. The company has a market cap of $2.41 billion, a P/E ratio of 50.86, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96. The business's fifty day moving average is $7.10 and its 200-day moving average is $5.82.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (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 firm had revenue of $274.26 million during the quarter, compared to analyst estimates of $270.98 million. During the same period in the prior year, the business posted $0.05 EPS. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that Payoneer Global Inc. will post 0.2 earnings per share for the current fiscal year.

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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