Cubist Systematic Strategies LLC Reduces Stake in Payoneer Global Inc. $PAYO

Key Points

• Cubist Systematic Strategies LLC reduced its holdings in Payoneer Global Inc. by 69.6% in Q1, selling 685,439 shares, leaving them with a total of 298,774 shares.
• Institutional investors now own 82.22% of Payoneer Global, with significant increases from firms like SG Americas Securities (up 2,262.5%) and Mirae Asset Global Investments (up 559.9%).
• Payoneer Global reported an EPS of $0.05 for Q2, missing estimates, but saw an 8.8% revenue increase year-over-year, totaling $260.61 million.

Cubist Systematic Strategies LLC reduced its position in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 69.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 298,774 shares of the company's stock after selling 685,439 shares during the period. Cubist Systematic Strategies LLC owned 0.08% of Payoneer Global worth $2,184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PAYO. Northern Trust Corp lifted its holdings in shares of Payoneer Global by 17.9% in the 4th quarter. Northern Trust Corp now owns 3,019,162 shares of the company's stock valued at $30,312,000 after purchasing an additional 458,594 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Payoneer Global by 47.9% during the 4th quarter. Ameriprise Financial Inc. now owns 5,146,874 shares of the company's stock valued at $51,675,000 after acquiring an additional 1,667,769 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Payoneer Global during the 4th quarter valued at approximately $10,198,000. Bank of America Corp DE raised its stake in Payoneer Global by 34.0% during the 4th quarter. Bank of America Corp DE now owns 2,508,530 shares of the company's stock valued at $25,186,000 after acquiring an additional 636,473 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Payoneer Global by 252.8% during the 4th quarter. Deutsche Bank AG now owns 2,779,110 shares of the company's stock valued at $27,902,000 after acquiring an additional 1,991,449 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on PAYO. Wall Street Zen downgraded Payoneer Global from a "hold" rating to a "sell" rating in a research note on Tuesday. Needham & Company LLC upped their price objective on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Citigroup reaffirmed 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. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a research note on Thursday, July 17th. They set a "buy" rating and a $8.00 price objective for the company. Finally, Jefferies Financial Group upped their price objective on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Payoneer Global has an average rating of "Moderate Buy" and a consensus price target of $10.06.

Payoneer Global Price Performance

Shares of PAYO stock traded down $0.14 during trading hours on Friday, reaching $6.50. 1,899,270 shares of the company's stock were exchanged, compared to its average volume of 2,711,796. The company has a market cap of $2.34 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 8.74 and a beta of 0.98. The company's 50 day moving average is $6.74 and its two-hundred day moving average is $6.92. Payoneer Global Inc. has a 1 year low of $5.71 and a 1 year high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $260.61 million for the quarter, compared to analysts' expectations of $253.17 million. Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%.The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $0.09 earnings per share. As a group, analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current fiscal 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.