Susquehanna International Group LLP Trims Stock Holdings in Payoneer Global Inc. $PAYO

Key Points

• Susquehanna International Group cut its Payoneer stake by 98.1% in the second quarter, selling 1.3 million shares and retaining 24,537 shares worth about $175,000.
• Payoneer shares opened at $7.12, near their 52-week high of $7.18. The company’s latest quarter showed revenue rising 5.2% year over year to $274.26 million, but adjusted earnings missed estimates by $0.07 per share.
• Analyst sentiment has weakened, with several firms downgrading the stock to Hold or Neutral. The consensus rating is Hold, with a target price of $7.40.

Susquehanna International Group LLP lowered its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 98.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,537 shares of the company's stock after selling 1,300,000 shares during the quarter. Susquehanna International Group LLP's holdings in Payoneer Global were worth $175,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Osaic Holdings Inc. raised its stake in shares of Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company's stock valued at $33,000 after acquiring an additional 3,298 shares during the period. GAMMA Investing LLC boosted its position in shares of Payoneer Global by 73.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,777 shares of the company's stock worth $41,000 after purchasing an additional 2,453 shares during the period. Leonteq Securities AG increased its holdings in Payoneer Global by 72.0% in the 1st quarter. Leonteq Securities AG now owns 6,496 shares of the company's stock valued at $31,000 after purchasing an additional 2,720 shares during the last quarter. CWM LLC increased its holdings in Payoneer Global by 178.6% in the 4th quarter. CWM LLC now owns 9,384 shares of the company's stock valued at $53,000 after purchasing an additional 6,016 shares during the last quarter. Finally, Resonant Capital Advisors LLC purchased a new stake in Payoneer Global in the first quarter valued at approximately $49,000. Hedge funds and other institutional investors own 82.22% of the company's stock.

Payoneer Global Trading Up 0.3%

Shares of NASDAQ:PAYO opened at $7.12 on Thursday. Payoneer Global Inc. has a 52 week low of $4.08 and a 52 week high of $7.18. The company's 50 day moving average is $7.11 and its two-hundred day moving average is $5.87. The company has a market cap of $2.41 billion, a PE ratio of 50.86, a P/E/G ratio of 1.49 and a beta of 0.94.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.07). The firm had revenue of $274.26 million for the quarter, compared to analysts' expectations of $270.98 million. Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.Payoneer Global's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. As a group, equities research analysts expect that Payoneer Global Inc. will post 0.2 EPS for the current year.

Insider Activity at Payoneer Global

In other news, CFO Beatrice Ordonez sold 25,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer owned 2,887,266 shares of the company's stock, valued at approximately $20,239,734.66. This trade represents a 0.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Upgrades and Downgrades

Several research analysts have recently commented on the company. Benchmark lowered Payoneer Global from a "buy" rating to a "hold" rating in a research report on Thursday, June 18th. Keefe, Bruyette & Woods lowered Payoneer Global from a "moderate buy" rating to a "hold" rating in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft cut Payoneer Global from a "buy" rating to a "hold" rating in a report on Friday, August 7th. William Blair downgraded Payoneer Global from an "outperform" rating to a "hold" rating in a research report on Monday, June 15th. Finally, Citigroup lowered shares of Payoneer Global from a "buy" rating to a "neutral" rating and cut their price target for the stock from $10.00 to $7.40 in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.40.

Payoneer Global Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source