Insider Selling: Lesaka Technologies (NASDAQ:LSAK) Major Shareholder Sells $95,491.20 in Stock

Key Points

• Finance Corp International executed a multi-day sell-off of Lesaka shares in early–mid April, selling roughly 442,950 shares across Apr 1–16 for about $2.18 million; the Apr 15 sale was 19,488 shares for $95,491 and left the holder with 5,311,296 shares valued at ~$26.03 million.
• Lesaka stock traded around $4.92 with midday volume of 354,768 (vs. average 92,502) and a market cap of ~$412.9 million; the company shows a negative PE and weak profitability metrics.
• Last quarter Lesaka beat EPS estimates ($0.08 vs. $0.04) but missed significantly on revenue ($93.4M vs. $166M expected), and analysts' consensus rating is a "Reduce" with mixed hold/sell coverage.

Lesaka Technologies, Inc. (NASDAQ:LSAK - Get Free Report) major shareholder Finance Corp International sold 19,488 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $4.90, for a total transaction of $95,491.20. Following the completion of the sale, the insider directly owned 5,311,296 shares of the company's stock, valued at $26,025,350.40. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Finance Corp International also recently made the following trade(s):

• On Thursday, April 16th, Finance Corp International sold 66,437 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.90, for a total value of $325,541.30.
• On Tuesday, April 14th, Finance Corp International sold 106,948 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.90, for a total value of $524,045.20.
• On Monday, April 13th, Finance Corp International sold 52,230 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.92, for a total value of $256,971.60.
• On Friday, April 10th, Finance Corp International sold 57,894 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.98, for a total value of $288,312.12.
• On Thursday, April 9th, Finance Corp International sold 9,878 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.95, for a total value of $48,896.10.
• On Wednesday, April 8th, Finance Corp International sold 19,311 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.93, for a total transaction of $95,203.23.
• On Tuesday, April 7th, Finance Corp International sold 47,954 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.91, for a total transaction of $235,454.14.
• On Monday, April 6th, Finance Corp International sold 34,219 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.95, for a total transaction of $169,384.05.
• On Thursday, April 2nd, Finance Corp International sold 9,928 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.99, for a total transaction of $49,540.72.
• On Wednesday, April 1st, Finance Corp International sold 18,663 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.97, for a total value of $92,755.11.

Lesaka Technologies Stock Performance

Shares of Lesaka Technologies stock traded down $0.02 during midday trading on Thursday, hitting $4.92. The company had a trading volume of 354,768 shares, compared to its average volume of 92,502. Lesaka Technologies, Inc. has a 1-year low of $3.39 and a 1-year high of $5.54. The business's 50 day simple moving average is $4.77 and its two-hundred day simple moving average is $4.46. The stock has a market cap of $412.89 million, a PE ratio of -7.81 and a beta of 0.39. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.57 and a quick ratio of 1.43.

Lesaka Technologies (NASDAQ:LSAK - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.04. Lesaka Technologies had a negative net margin of 7.87% and a negative return on equity of 28.23%. The company had revenue of $93.40 million during the quarter, compared to the consensus estimate of $166.00 million. As a group, equities analysts predict that Lesaka Technologies, Inc. will post -0.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on LSAK shares. Zacks Research raised Lesaka Technologies from a "strong sell" rating to a "hold" rating in a report on Friday, January 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lesaka Technologies in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Lesaka Technologies to a "hold" rating in a research report on Saturday, February 14th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lesaka Technologies currently has a consensus rating of "Reduce".

Institutional Investors Weigh In On Lesaka Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP bought a new position in Lesaka Technologies in the third quarter valued at about $74,000. Citadel Advisors LLC raised its holdings in Lesaka Technologies by 26.4% during the 3rd quarter. Citadel Advisors LLC now owns 18,977 shares of the company's stock worth $79,000 after purchasing an additional 3,959 shares during the last quarter. 9823 Capital L.P. acquired a new position in Lesaka Technologies during the 4th quarter valued at about $94,000. Barclays PLC boosted its stake in shares of Lesaka Technologies by 13,359.8% in the 4th quarter. Barclays PLC now owns 141,866 shares of the company's stock valued at $677,000 after purchasing an additional 140,812 shares during the last quarter. Finally, Potomac Capital Management Inc. bought a new position in Lesaka Technologies in the fourth quarter valued at approximately $4,766,000. 24.19% of the stock is owned by institutional investors and hedge funds.

Lesaka Technologies Company Profile

Lesaka Technologies, Inc operates as a Fintech company that utilizes its proprietary banking and payment technologies to deliver financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. It offers cash management solutions, growth capital, card acquiring, bill payment technologies, and value-added services to formal and informal retail merchants, as well as banking, lending, and insurance solutions to consumers across Southern Africa. The company also engages in the sale of POS devices, SIM cards, and other consumables; and license of rights to use certain technology developed by the company, as well as offers related technology services.

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