Squarepoint Ops LLC Acquires 519,371 Shares of Payoneer Global Inc. $PAYO

Key Points

• Squarepoint Ops LLC significantly increased its Payoneer Global stake by acquiring 519,371 shares in the second quarter, bringing its holdings to 553,774 shares valued at approximately $3.94 million.
• Payoneer reported quarterly revenue of $274.26 million, up 5.2% year over year and above estimates, but missed earnings expectations with a loss of $0.01 per share versus the projected $0.06 profit.
• Analyst sentiment is cautious: multiple firms downgraded the stock to “Hold,” resulting in a consensus “Hold” rating and an average price target of $7.40, compared with a recent share price of $7.12.

Squarepoint Ops LLC grew its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 1,509.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 553,774 shares of the company's stock after acquiring an additional 519,371 shares during the period. Squarepoint Ops LLC owned about 0.16% of Payoneer Global worth $3,943,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Osaic Holdings Inc. grew its stake in shares of Payoneer Global by 246.5% in the second quarter. Osaic Holdings Inc. now owns 4,636 shares of the company's stock worth $33,000 after purchasing an additional 3,298 shares during the last quarter. Nykredit A S acquired a new position in Payoneer Global during the 2nd quarter worth about $39,000. GAMMA Investing LLC grew its position in shares of Payoneer Global by 73.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,777 shares of the company's stock valued at $41,000 after buying an additional 2,453 shares during the last quarter. Leonteq Securities AG increased its stake in shares of Payoneer Global by 72.0% in the first quarter. Leonteq Securities AG now owns 6,496 shares of the company's stock valued at $31,000 after buying an additional 2,720 shares during the period. Finally, Resonant Capital Advisors LLC acquired a new stake in shares of Payoneer Global in the first quarter valued at about $49,000. Institutional investors and hedge funds own 82.22% of the company's stock.

Payoneer Global Price Performance

Shares of NASDAQ PAYO opened at $7.12 on Friday. The firm has a market cap of $2.41 billion, a PE ratio of 50.86, a P/E/G ratio of 1.82 and a beta of 0.94. The company's fifty day simple moving average is $7.12 and its 200 day simple moving average is $5.95. Payoneer Global Inc. has a 12-month low of $4.08 and a 12-month high of $7.18.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The company had revenue of $274.26 million during the quarter, compared to the consensus estimate of $270.98 million. During the same period last year, the firm posted $0.05 earnings per share. The company's revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts predict that Payoneer Global Inc. will post 0.16 earnings per share for the current year.

Insider Activity at Payoneer Global

In related news, CFO Beatrice Ordonez sold 25,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was 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 of the company's stock, valued at $20,239,734.66. The trade was a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, 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 corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PAYO shares. Deutsche Bank Aktiengesellschaft downgraded Payoneer Global from a "buy" rating to a "hold" rating in a research report on Friday, August 7th. Keefe, Bruyette & Woods downgraded shares of Payoneer Global from a "moderate buy" rating to a "hold" rating in a research report on Monday, June 15th. Weiss Ratings upgraded shares of Payoneer Global from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, September 1st. William Blair lowered shares of Payoneer Global from an "outperform" rating to a "hold" rating in a report on Monday, June 15th. Finally, Benchmark downgraded shares of Payoneer Global from a "buy" rating to a "hold" rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $7.40.

Payoneer Global Company Profile

Payoneer Global Inc NASDAQ: PAYO is a financial technology company that provides digital commerce and payment services to small and medium-sized businesses, marketplaces, freelancers and other organizations. Its platform is designed to help customers receive funds from international clients and marketplaces, make cross-border payments, manage business finances and access global commerce opportunities.

Payoneer's products and services include multi-currency receiving accounts, global payouts, supplier and business payments, payment cards, foreign-exchange services and working-capital solutions.

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