SG Americas Securities LLC Increases Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

SG Americas Securities LLC increased its position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 2,262.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,215,581 shares of the company's stock after buying an additional 1,164,128 shares during the period. SG Americas Securities LLC owned 0.34% of Payoneer Global worth $8,886,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in Payoneer Global during the fourth quarter worth $1,276,000. Entropy Technologies LP bought a new stake in Payoneer Global in the fourth quarter valued at $540,000. Allspring Global Investments Holdings LLC increased its stake in Payoneer Global by 133.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 97,538 shares of the company's stock valued at $990,000 after purchasing an additional 55,766 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Payoneer Global in the fourth quarter valued at $1,809,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Payoneer Global by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,428,185 shares of the company's stock valued at $24,379,000 after purchasing an additional 91,029 shares in the last quarter. Institutional investors own 82.22% of the company's stock.

Insider Activity

In other news, Director Susanna Morgan sold 16,180 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.77, for a total transaction of $109,538.60. Following the completion of the transaction, the director now directly owns 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.58% of the company's stock.

Analysts Set New Price Targets

PAYO has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised shares of Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $7.00 to $9.00 in a research note on Tuesday, May 13th. Citigroup reaffirmed a "buy" rating and issued a $10.00 price target (down from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. The Goldman Sachs Group decreased their price target 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 decreased their target price on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Jefferies Financial Group boosted their target price on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $10.44.

Payoneer Global Stock Down 5.7%

PAYO stock traded down $0.39 during trading on Friday, reaching $6.51. The stock had a trading volume of 2,497,095 shares, compared to its average volume of 3,209,850. Payoneer Global Inc. has a one year low of $5.03 and a one year high of $11.29. The company's 50 day moving average is $6.78 and its two-hundred day moving average is $8.53. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.88 and a beta of 0.99.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company had revenue of $246.62 million during the quarter, compared to analysts' expectations of $244.52 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The firm's revenue was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

About Payoneer Global

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.