Y Intercept Hong Kong Ltd Trims Stake in Payoneer Global Inc. (NASDAQ:PAYO)

Key Points

• Y Intercept Hong Kong Ltd has reduced its stake in Payoneer Global Inc. by 84.2%, now holding 20,130 shares worth $147,000.
• Payoneer Global's stock price recently fell by 4.4%, trading at $6.28, with a market cap of $2.27 billion and a twelve-month trading range between $5.03 and $11.29.
• Despite the stock's decline, multiple analysts maintain a buy rating with a consensus target price of $9.81, highlighting an upward trend in Payoneer's quarterly revenue.

Y Intercept Hong Kong Ltd cut its holdings in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 84.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,130 shares of the company's stock after selling 106,957 shares during the period. Y Intercept Hong Kong Ltd's holdings in Payoneer Global were worth $147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PAYO. Quarry LP bought a new position in shares of Payoneer Global in the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC purchased a new position in Payoneer Global in the first quarter valued at approximately $25,000. Versant Capital Management Inc lifted its position in shares of Payoneer Global by 420.6% during the first quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock worth $37,000 after acquiring an additional 4,067 shares in the last quarter. IFP Advisors Inc raised its position in shares of Payoneer Global by 47,800.0% in the first quarter. IFP Advisors Inc now owns 6,227 shares of the company's stock worth $46,000 after buying an additional 6,214 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Payoneer Global by 559.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock worth $62,000 after buying an additional 7,195 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 value of $109,538.60. Following the completion of the sale, the director owned 80,902 shares of the company's stock, valued at approximately $547,706.54. The trade was a 16.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PAYO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research note on Thursday, July 17th. They set a "buy" rating and a $8.00 price objective on the stock. Jefferies Financial Group boosted their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Needham & Company LLC cut their target price on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Citigroup reissued a "buy" rating and set a $10.00 price objective (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Finally, Keefe, Bruyette & Woods raised shares of Payoneer Global from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $7.00 to $9.00 in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $9.81.

Payoneer Global Trading Up 2.8%

PAYO traded up $0.18 during trading hours on Tuesday, hitting $6.53. 1,838,170 shares of the company's stock were exchanged, compared to its average volume of 3,341,399. The firm has a 50 day moving average of $6.76 and a 200 day moving average of $7.62. Payoneer Global Inc. has a 12-month low of $5.16 and a 12-month high of $11.29. The firm has a market cap of $2.36 billion, a P/E ratio of 21.82 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $246.62 million for the quarter, compared to analysts' expectations of $244.52 million. Payoneer Global had a net margin of 11.32% and a return on equity of 15.70%. The business's revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 earnings per share. As a group, research analysts expect that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Payoneer Global Company 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.