Payoneer Global Inc. $PAYO Stock Holdings Lifted by First Trust Advisors LP

Key Points

• First Trust Advisors increased its Payoneer Global stake by 305.8% in the first quarter, bringing its holdings to 222,113 shares valued at approximately $1.07 million. Institutional investors collectively own 82.22% of PAYO.
• Payoneer shares opened at $7.09, near their 52-week high of $7.18, with a $2.37 billion market capitalization. The stock’s 50-day and 200-day moving averages were $6.87 and $5.74, respectively.
• Analyst sentiment has weakened: several firms downgraded PAYO to Hold or Neutral, resulting in a consensus Hold rating and an average price target of $7.40. Meanwhile, CFO Beatrice Ordonez sold 25,000 shares under a pre-arranged trading plan.

First Trust Advisors LP lifted its position in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 305.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 222,113 shares of the company's stock after acquiring an additional 167,372 shares during the quarter. First Trust Advisors LP owned approximately 0.06% of Payoneer Global worth $1,073,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYO. Royal Bank of Canada raised its stake in Payoneer Global by 299.7% during the 1st quarter. Royal Bank of Canada now owns 158,997 shares of the company's stock valued at $1,162,000 after purchasing an additional 119,219 shares during the period. AQR Capital Management LLC boosted its position in shares of Payoneer Global by 8.8% in the first quarter. AQR Capital Management LLC now owns 291,908 shares of the company's stock worth $2,134,000 after buying an additional 23,533 shares during the period. Caxton Associates LLP purchased a new position in shares of Payoneer Global during the first quarter valued at $172,000. United Services Automobile Association purchased a new position in shares of Payoneer Global during the first quarter valued at $126,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Payoneer Global by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 757,827 shares of the company's stock valued at $5,540,000 after buying an additional 41,970 shares during the period. Institutional investors and hedge funds own 82.22% of the company's stock.

Payoneer Global Price Performance

Shares of Payoneer Global stock opened at $7.09 on Tuesday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 50.65, a P/E/G ratio of 0.80 and a beta of 0.96. Payoneer Global Inc. has a 52-week low of $4.08 and a 52-week high of $7.18. The stock has a 50-day simple moving average of $6.87 and a 200-day simple moving average of $5.74.

Insiders Place Their Bets

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of Payoneer Global stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the sale, the chief financial officer directly owned 2,887,266 shares in the company, valued at $20,239,734.66. The trade was a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PAYO shares. Deutsche Bank Aktiengesellschaft downgraded Payoneer Global from a "buy" rating to a "hold" rating in a research note on Friday. Keefe, Bruyette & Woods downgraded Payoneer Global from a "moderate buy" rating to a "hold" rating in a report on Monday, June 15th. William Blair downgraded Payoneer Global from an "outperform" rating to a "hold" rating in a report on Monday, June 15th. Benchmark lowered shares of Payoneer Global from a "buy" rating to a "hold" rating in a research report on Thursday, June 18th. Finally, Citigroup cut shares of Payoneer Global from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $10.00 to $7.40 in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.40.

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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