Payoneer Global Inc. $PAYO is Tikvah Management LLC's 8th Largest Position

Key Points

• Tikvah Management LLC increased its stake in Payoneer Global Inc. by 31.0% during the 1st quarter, owning approximately $12.37 million worth of shares, making it the firm's 8th largest position.
• Payoneer Global reported $260.61 million in revenue for the quarter, surpassing analysts' expectations, though its earnings per share missed estimates at $0.05.
• Several institutional investors have recently shifted positions in Payoneer, with a collective ownership of 82.22% of the company's stock.

Tikvah Management LLC boosted its holdings in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 31.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,692,133 shares of the company's stock after buying an additional 400,000 shares during the quarter. Payoneer Global makes up 4.3% of Tikvah Management LLC's holdings, making the stock its 8th biggest holding. Tikvah Management LLC owned approximately 0.47% of Payoneer Global worth $12,369,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC acquired a new stake in Payoneer Global in the first quarter valued at $25,000. Quarry LP bought a new stake in Payoneer Global during the fourth quarter valued at $29,000. Versant Capital Management Inc boosted its position in shares of Payoneer Global by 420.6% during the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock worth $37,000 after purchasing an additional 4,067 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Payoneer Global by 47,800.0% during the 1st quarter. IFP Advisors Inc now owns 6,227 shares of the company's stock worth $46,000 after purchasing an additional 6,214 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Payoneer Global by 559.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock worth $62,000 after purchasing an additional 7,195 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO remained flat at $6.65 during midday trading on Thursday. 3,125,479 shares of the stock traded hands, compared to its average volume of 3,407,009. The firm's 50 day moving average is $6.74 and its 200 day moving average is $7.35. The stock has a market cap of $2.40 billion, a P/E ratio of 25.58, a P/E/G ratio of 8.83 and a beta of 0.97. Payoneer Global Inc. has a 52-week low of $5.71 and a 52-week high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The company had revenue of $260.61 million for the quarter, compared to the consensus estimate of $253.17 million. During the same quarter last year, the company earned $0.09 EPS. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts expect that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Susanna Morgan sold 16,180 shares of Payoneer Global stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.77, for a total value of $109,538.60. Following the transaction, the director owned 80,902 shares of the company's stock, valued at $547,706.54. The trade was a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.58% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PAYO shares. Jefferies Financial Group increased their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Keefe, Bruyette & Woods raised shares of Payoneer Global from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $7.00 to $9.00 in a report on Tuesday, May 13th. Needham & Company LLC raised their price objective on shares of Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Citigroup reissued a "buy" rating and issued a $10.00 price target (down from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Payoneer Global in a report on Thursday, July 17th. They set a "buy" rating and a $8.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $10.06.

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.