Private Management Group Inc. Buys 578,606 Shares of Paysafe Limited (NYSE:PSFE)

Key Points

• Private Management Group Inc. increased its stake in Paysafe Limited by 116.6%, owning over 1 million shares valued at approximately $16.87 million at the end of the most recent quarter.
• Several institutional investors, including Mirae Asset Global Investments and Spire Wealth Management, have also significantly increased their holdings in Paysafe during the first quarter.
• Analysts have set new price targets for Paysafe, with Bank of America upgrading its rating to "neutral" and establishing a target price of $14.30, while Susquehanna lowered their target from $17.00 to $15.00.

Private Management Group Inc. grew its position in shares of Paysafe Limited (NYSE:PSFE - Free Report) by 116.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,075,043 shares of the company's stock after buying an additional 578,606 shares during the quarter. Private Management Group Inc. owned 1.80% of Paysafe worth $16,867,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management grew its holdings in shares of Paysafe by 87.8% during the first quarter. Spire Wealth Management now owns 2,845 shares of the company's stock valued at $45,000 after buying an additional 1,330 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Paysafe by 10,940.7% during the first quarter. GAMMA Investing LLC now owns 2,981 shares of the company's stock valued at $47,000 after buying an additional 2,954 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Paysafe by 1,385.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,075 shares of the company's stock valued at $48,000 after buying an additional 2,868 shares during the last quarter. State of Wyoming boosted its holdings in Paysafe by 38.2% in the fourth quarter. State of Wyoming now owns 7,162 shares of the company's stock worth $122,000 after purchasing an additional 1,980 shares during the last quarter. Finally, Bfsg LLC grew its position in Paysafe by 113.9% in the 1st quarter. Bfsg LLC now owns 9,700 shares of the company's stock worth $152,000 after purchasing an additional 5,165 shares during the period. Hedge funds and other institutional investors own 54.39% of the company's stock.

Paysafe Stock Performance

PSFE traded down $0.57 during trading on Tuesday, hitting $12.67. The company's stock had a trading volume of 149,444 shares, compared to its average volume of 393,092. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.75. Paysafe Limited has a one year low of $11.60 and a one year high of $26.25. The firm has a market cap of $758.48 million, a PE ratio of -633.50, a P/E/G ratio of 0.38 and a beta of 1.79. The business's 50 day simple moving average is $12.85 and its 200-day simple moving average is $15.44.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PSFE shares. Susquehanna lowered their price target on Paysafe from $17.00 to $15.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Bank of America raised Paysafe from an "underperform" rating to a "neutral" rating and set a $14.30 price target on the stock in a report on Friday, May 16th.

Paysafe Company Profile

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.