Payoneer Global Inc. $PAYO Position Boosted by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC sharply increased its stake in Payoneer Global by 372.8% in the fourth quarter, ending with 603,407 shares worth about $3.4 million.
• Payoneer reported better-than-expected quarterly results, posting $0.06 EPS versus the $0.04 consensus and revenue of $261.6 million, up 6.1% year over year.
• Analysts are mostly cautious on the stock: the consensus rating is Hold with an average price target of $7.40, even as one firm reaffirmed a Buy rating.

Hsbc Holdings PLC raised its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 372.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603,407 shares of the company's stock after acquiring an additional 475,776 shares during the period. Hsbc Holdings PLC owned approximately 0.17% of Payoneer Global worth $3,400,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PAYO. Alpine Global Management LLC acquired a new position in shares of Payoneer Global during the fourth quarter valued at $177,000. Virtu Financial LLC bought a new position in Payoneer Global in the 4th quarter valued at about $129,000. Mercer Global Advisors Inc. ADV acquired a new position in Payoneer Global during the 4th quarter valued at about $69,000. Vident Advisory LLC acquired a new position in Payoneer Global during the 4th quarter valued at about $58,000. Finally, Empowered Funds LLC bought a new stake in shares of Payoneer Global during the 4th quarter worth about $63,000. Institutional investors and hedge funds own 82.22% of the company's stock.

Payoneer Global Stock Performance

Shares of PAYO opened at $7.10 on Friday. The firm has a market cap of $2.38 billion, a PE ratio of 35.50, a PEG ratio of 0.75 and a beta of 0.95. The firm's 50 day moving average price is $5.97 and its 200 day moving average price is $5.50. Payoneer Global Inc. has a twelve month low of $4.08 and a twelve month high of $7.66.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $261.60 million during the quarter, compared to the consensus estimate of $255.12 million. Payoneer Global had a net margin of 6.76% and a return on equity of 11.10%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, sell-side analysts anticipate that Payoneer Global Inc. will post 0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the firm'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 transaction, the chief financial officer directly owned 2,887,266 shares in the company, valued at $20,239,734.66. This trade represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on PAYO. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $7.40 price objective on shares of Payoneer Global in a report on Tuesday, June 16th. Keefe, Bruyette & Woods cut Payoneer Global from a "moderate buy" rating to a "hold" rating in a research report on Monday, June 15th. Weiss Ratings raised Payoneer Global from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, June 25th. Northland Securities set a $7.40 price objective on Payoneer Global in a report on Monday, June 15th. Finally, Needham & Company LLC cut Payoneer Global from a "buy" rating to a "hold" rating in a research note on Monday, June 15th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $7.40.

Payoneer Global Company Profile

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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