Tikvah Management LLC Sells 1,292,133 Shares of Payoneer Global Inc. $PAYO

Key Points

• Tikvah Management cut its Payoneer Global stake by 62.6%, selling 1,292,133 shares and retaining 771,939 shares valued at approximately $5.5 million. Institutional investors collectively own 82.22% of the company.
• Payoneer reported quarterly revenue of $274.26 million, up 5.2% year over year and above estimates, but its adjusted loss of $0.01 per share missed the $0.06 consensus estimate.
• Analyst sentiment is largely neutral: eight analysts rate the stock “Hold” and one rates it “Buy,” producing a consensus “Hold” rating and a $7.40 price target. PAYO opened at $7.11, near its 52-week high of $7.18.

Tikvah Management LLC reduced its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 62.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 771,939 shares of the company's stock after selling 1,292,133 shares during the period. Payoneer Global makes up 1.7% of Tikvah Management LLC's portfolio, making the stock its 12th largest holding. Tikvah Management LLC owned approximately 0.23% of Payoneer Global worth $5,496,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of Payoneer Global by 2.4% in the fourth quarter. Van ECK Associates Corp now owns 84,678 shares of the company's stock worth $476,000 after purchasing an additional 1,977 shares during the last quarter. Susquehanna International Group LLP boosted its stake in Payoneer Global by 9.5% during the third quarter. Susquehanna International Group LLP now owns 24,637 shares of the company's stock valued at $149,000 after buying an additional 2,144 shares during the last quarter. ProShare Advisors LLC grew its holdings in Payoneer Global by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 54,909 shares of the company's stock valued at $309,000 after buying an additional 2,145 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Payoneer Global by 5.8% during the 4th quarter. LPL Financial LLC now owns 42,211 shares of the company's stock worth $237,000 after acquiring an additional 2,304 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Payoneer Global by 8.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,677 shares of the company's stock worth $178,000 after acquiring an additional 2,368 shares in the last quarter. Hedge funds and other institutional investors own 82.22% of the company's stock.

Insider Activity

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $7.01, for a total transaction of $175,250.00. Following the completion of the transaction, the chief financial officer owned 2,887,266 shares in the company, valued at $20,239,734.66. The trade was a 0.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is owned by company insiders.

Payoneer Global Stock Down 0.3%

Shares of PAYO opened at $7.11 on Thursday. The business has a fifty day moving average of $7.12 and a 200 day moving average of $5.93. The company has a market cap of $2.41 billion, a PE ratio of 50.79, a P/E/G ratio of 1.83 and a beta of 0.94. Payoneer Global Inc. has a 52-week low of $4.08 and a 52-week high of $7.18.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its 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 firm had revenue of $274.26 million during the quarter, compared to analysts' expectations of $270.98 million. During the same period in the prior year, the company posted $0.05 EPS. The company's revenue was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Payoneer Global Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Needham & Company LLC cut shares of Payoneer Global from a "buy" rating to a "hold" rating in a research report on Monday, June 15th. Northland Securities set a $7.40 price objective on shares of Payoneer Global in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Payoneer Global from a "buy" rating to a "hold" rating in a report on Friday, August 7th. Benchmark cut shares of Payoneer Global from a "buy" rating to a "hold" rating in a research report on Thursday, June 18th. Finally, Weiss Ratings raised shares of Payoneer Global from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, September 1st. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $7.40.

Payoneer Global Company 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.

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