Voya Investment Management LLC Acquires 189,509 Shares of Payoneer Global Inc. $PAYO

Key Points

• Voya Investment Management LLC increased its stake in Payoneer Global Inc. by 31.7% during the first quarter, acquiring an additional 189,509 shares.
• Institutional ownership of Payoneer Global is significant, with hedge funds and other institutional investors owning 82.22% of the stock.
• Analysts' ratings on PAYO are largely positive, with a consensus rating of "Moderate Buy" and an average price target of $10.06.

Voya Investment Management LLC raised its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 31.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 787,697 shares of the company's stock after purchasing an additional 189,509 shares during the quarter. Voya Investment Management LLC owned approximately 0.22% of Payoneer Global worth $5,758,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Payoneer Global by 2.8% in the first quarter. Principal Financial Group Inc. now owns 1,593,475 shares of the company's stock worth $11,648,000 after acquiring an additional 44,087 shares during the period. Invesco Ltd. increased its holdings in shares of Payoneer Global by 136.4% in the first quarter. Invesco Ltd. now owns 2,343,706 shares of the company's stock worth $17,132,000 after purchasing an additional 1,352,438 shares during the last quarter. Aspen Capital Management LLC bought a new stake in shares of Payoneer Global in the 1st quarter worth about $1,420,000. SG Americas Securities LLC increased its position in shares of Payoneer Global by 2,262.5% during the 1st quarter. SG Americas Securities LLC now owns 1,215,581 shares of the company's stock valued at $8,886,000 after purchasing an additional 1,164,128 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Payoneer Global by 559.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock worth $62,000 after acquiring an additional 7,195 shares during the last quarter. Institutional investors own 82.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a report on Tuesday, May 27th. Needham & Company LLC lifted their price target on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price target for the company. Finally, Wall Street Zen cut Payoneer Global from a "hold" rating to a "sell" rating in a report on Tuesday, September 9th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Payoneer Global has a consensus rating of "Moderate Buy" and a consensus price target of $10.06.

Payoneer Global Price Performance

Shares of NASDAQ PAYO traded up $0.13 during trading on Monday, hitting $6.72. 2,919,774 shares of the company were exchanged, compared to its average volume of 3,079,481. The firm's fifty day moving average price is $6.73 and its 200 day moving average price is $6.82. Payoneer Global Inc. has a 1 year low of $5.71 and a 1 year high of $11.29. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 8.67 and a beta of 0.98.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) 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 firm had revenue of $260.61 million during the quarter, compared to analysts' expectations of $253.17 million. During the same quarter last year, the company posted $0.09 earnings per share. Payoneer Global's revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts forecast that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

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.