Payoneer Global Inc. (NASDAQ:PAYO) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 20.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 230,062 shares of the company's stock after selling 59,901 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Payoneer Global worth $1,682,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System increased its holdings in Payoneer Global by 1.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 86,467 shares of the company's stock valued at $868,000 after buying an additional 1,002 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in Payoneer Global by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 30,355 shares of the company's stock valued at $305,000 after buying an additional 1,663 shares in the last quarter. Bank of Montreal Can increased its holdings in Payoneer Global by 8.6% in the fourth quarter. Bank of Montreal Can now owns 28,613 shares of the company's stock valued at $287,000 after buying an additional 2,258 shares in the last quarter. Xponance Inc. increased its holdings in Payoneer Global by 12.5% in the fourth quarter. Xponance Inc. now owns 20,711 shares of the company's stock valued at $208,000 after buying an additional 2,303 shares in the last quarter. Finally, Quarry LP purchased a new position in Payoneer Global in the fourth quarter valued at about $29,000. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Stock Up 7.8%

Shares of PAYO stock traded up $0.51 on Monday, reaching $6.99. 1,535,753 shares of the stock were exchanged, compared to its average volume of 3,208,511. The stock has a market cap of $2.53 billion, a P/E ratio of 23.32 and a beta of 0.98. The firm has a 50 day moving average of $6.84 and a two-hundred day moving average of $8.01. Payoneer Global Inc. has a 1-year low of $5.03 and a 1-year high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). The firm had revenue of $246.62 million for the quarter, compared to analyst estimates of $244.52 million. Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. The company's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share. On average, equities research analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.77, for a total value of $109,538.60. Following the completion of 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 filing with the SEC, which is available at the SEC website. 2.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PAYO. Citigroup reissued a "buy" rating and set a $10.00 price objective (down from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods raised shares of Payoneer Global from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $7.00 to $9.00 in a research note on Tuesday, May 13th. The Goldman Sachs Group dropped their price objective on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Needham & Company LLC dropped their price objective on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Jefferies Financial Group raised their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Payoneer Global presently has an average rating of "Buy" and an average target price of $10.44.

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.