Payoneer Global Inc. $PAYO Shares Sold by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP reduced its stake in Payoneer Global Inc. by 43%, selling 88,051 shares in the first quarter, leaving it with 116,827 shares valued at $854,000.
• Despite this sale, several institutional investors, including Bank of America and Deutsche Bank, significantly increased their positions in Payoneer Global during the fourth quarter.
• Payoneer Global's stock opened at $6.81, with a 52-week range of $5.71 to $11.29, and reported a revenue of $260.61 million, surpassing analysts' expectations.

Voleon Capital Management LP trimmed its position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 43.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,827 shares of the company's stock after selling 88,051 shares during the period. Voleon Capital Management LP's holdings in Payoneer Global were worth $854,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Payoneer Global by 12.1% during the first quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company's stock worth $247,675,000 after purchasing an additional 3,656,056 shares in the last quarter. American Century Companies Inc. lifted its stake in Payoneer Global by 15.1% during the first quarter. American Century Companies Inc. now owns 9,403,250 shares of the company's stock worth $68,738,000 after purchasing an additional 1,236,598 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Payoneer Global by 3.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,970,295 shares of the company's stock worth $65,574,000 after purchasing an additional 260,306 shares in the last quarter. Millennium Management LLC increased its position in shares of Payoneer Global by 15.5% during the first quarter. Millennium Management LLC now owns 7,537,691 shares of the company's stock worth $55,101,000 after acquiring an additional 1,014,096 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Payoneer Global by 50.1% during the first quarter. Victory Capital Management Inc. now owns 4,395,656 shares of the company's stock worth $32,132,000 after acquiring an additional 1,467,357 shares during the period. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Payoneer Global Trading Up 0.8%

Shares of PAYO traded up $0.06 during mid-day trading on Monday, hitting $6.56. 454,764 shares of the company's stock were exchanged, compared to its average volume of 3,338,500. Payoneer Global Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $11.29. The firm has a market capitalization of $2.36 billion, a P/E ratio of 25.17, a P/E/G ratio of 8.55 and a beta of 0.98. The business's 50 day moving average is $6.74 and its two-hundred day moving average is $6.88.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PAYO. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a research report on Thursday, July 17th. They set a "buy" rating and a $8.00 price objective on the stock. Wall Street Zen lowered Payoneer Global from a "hold" rating to a "sell" rating in a report on Tuesday, September 9th. Jefferies Financial Group increased their target price on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a report on Tuesday, May 27th. Citigroup reissued a "buy" rating and issued a $10.00 target price (down previously from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Finally, Needham & Company LLC increased their target price on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.06.

Payoneer Global Profile

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.