Victory Capital Management Inc. Boosts Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

Victory Capital Management Inc. grew its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 50.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,395,656 shares of the company's stock after buying an additional 1,467,357 shares during the quarter. Victory Capital Management Inc. owned approximately 1.22% of Payoneer Global worth $32,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new position in Payoneer Global in the 1st quarter valued at about $25,000. Quarry LP acquired a new position in shares of Payoneer Global during the 4th quarter worth approximately $29,000. Versant Capital Management Inc grew 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. Mirae Asset Global Investments Co. Ltd. grew 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. Finally, Creative Financial Designs Inc. ADV grew its position in shares of Payoneer Global by 86.4% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 11,956 shares of the company's stock worth $87,000 after purchasing an additional 5,542 shares in the last quarter. 82.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Susanna Morgan sold 16,180 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total transaction of $109,538.60. Following the completion of the sale, the director owned 80,902 shares in the company, valued at $547,706.54. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group dropped 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 reduced their price target on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $7.00 to $9.00 in a report on Tuesday, May 13th. Citigroup restated a "buy" rating and set 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 assumed coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price objective on the stock. 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 stock. According to MarketBeat, Payoneer Global presently has an average rating of "Buy" and an average price target of $9.81.

Payoneer Global Stock Performance

Payoneer Global stock traded up $0.01 during trading on Tuesday, reaching $6.84. The company had a trading volume of 1,944,564 shares, compared to its average volume of 3,211,866. The firm's 50-day simple moving average is $6.85 and its 200 day simple moving average is $7.89. Payoneer Global Inc. has a 1-year low of $5.03 and a 1-year high of $11.29. The firm has a market capitalization of $2.47 billion, a PE ratio of 22.80 and a beta of 0.98.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its quarterly earnings data 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 11.32% and a return on equity of 15.70%. The firm 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 business posted $0.08 EPS. The company's revenue for the quarter was up 8.1% on a year-over-year basis. Analysts anticipate that Payoneer Global Inc. will post 0.34 EPS for the current 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.