Payoneer Global Inc. $PAYO Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its holdings in Payoneer Global by 2.6%, selling 59,297 shares, and now owns 0.63% of the company valued at approximately $15.7 million.
• Several institutional investors increased their stakes in Payoneer Global during the first quarter, with SG Americas Securities LLC growing its stake by 2,262.5% to over 1.2 million shares.
• Payoneer Global's stock received mixed analyst ratings, with eight analysts giving it a "Buy" and one a "Hold," while the average target price is set at $10.06.

Wellington Management Group LLP reduced its position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,255,717 shares of the company's stock after selling 59,297 shares during the period. Wellington Management Group LLP owned about 0.63% of Payoneer Global worth $15,724,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Algert Global LLC lifted its position in shares of Payoneer Global by 27.9% during the first quarter. Algert Global LLC now owns 253,549 shares of the company's stock worth $1,853,000 after purchasing an additional 55,247 shares in the last quarter. American Century Companies Inc. grew its position in shares of 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 buying an additional 1,236,598 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Payoneer Global by 5.4% during the first quarter. Lord Abbett & CO. LLC now owns 1,313,897 shares of the company's stock worth $9,605,000 after buying an additional 67,203 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Payoneer Global during the first quarter worth approximately $194,000. Finally, Public Sector Pension Investment Board grew its position in shares of Payoneer Global by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 814,236 shares of the company's stock worth $5,952,000 after buying an additional 174,574 shares in the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup reissued a "buy" rating and set a $10.00 price target (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods raised shares of Payoneer Global from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $7.00 to $9.00 in a research report on Tuesday, May 13th. Wall Street Zen raised shares of Payoneer Global from a "sell" rating to a "hold" rating in a research report on Monday. Jefferies Financial Group raised their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They set a "buy" rating and a $8.00 price target for the company. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $10.06.

Payoneer Global Price Performance

Shares of PAYO stock traded up $0.07 on Monday, hitting $6.95. 4,428,617 shares of the stock traded hands, compared to its average volume of 3,963,585. The company has a market capitalization of $2.50 billion, a PE ratio of 26.73, a PEG ratio of 9.15 and a beta of 0.98. Payoneer Global Inc. has a 1-year low of $5.71 and a 1-year high of $11.29. The company's fifty day moving average is $6.78 and its 200 day moving average is $7.10.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $260.61 million for 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%. The business's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. As a group, equities research analysts expect that Payoneer Global Inc. will post 0.34 EPS 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.