Lesaka Technologies (NASDAQ:LSAK) Major Shareholder Sells $256,971.60 in Stock

Key Points

• Finance Corp International sold 52,230 shares of Lesaka Technologies on April 13 at $4.92 for $256,971.60, according to an SEC filing.
• Between March 24 and April 13 the shareholder sold roughly 310,167 shares for about $1.54 million in total, leaving it with 5,437,732 shares valued at approximately $26.75 million (the April 13 trade cut its stake by about 0.95%).
• LSAK traded down 2.6% to $4.86 on Monday with volume slightly above average, and analysts maintain a consensus "Reduce" rating after mixed results (EPS beat but revenue missed and negative margins).

Lesaka Technologies, Inc. (NASDAQ:LSAK - Get Free Report) major shareholder Finance Corp International sold 52,230 shares of the business's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $4.92, for a total transaction of $256,971.60. Following the transaction, the insider directly owned 5,437,732 shares in the company, valued at approximately $26,753,641.44. The trade was a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, April 10th, Finance Corp International sold 57,894 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.98, for a total transaction 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 transaction 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 shares were 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 shares were 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 transaction of $92,755.11.
• On Tuesday, March 31st, Finance Corp International sold 32,807 shares of Lesaka Technologies stock. The shares were sold at an average price of $5.02, for a total transaction of $164,691.14.
• On Wednesday, March 25th, Finance Corp International sold 11,104 shares of Lesaka Technologies stock. The shares were sold at an average price of $5.04, for a total transaction of $55,964.16.
• On Tuesday, March 24th, Finance Corp International sold 16,179 shares of Lesaka Technologies stock. The shares were sold at an average price of $5.02, for a total transaction of $81,218.58.

Lesaka Technologies Stock Down 2.6%

LSAK traded down $0.13 during trading on Monday, hitting $4.86. The company had a trading volume of 108,107 shares, compared to its average volume of 100,309. The company has a market cap of $407.85 million, a PE ratio of -7.71 and a beta of 0.39. The business has a 50-day moving average of $4.75 and a 200-day moving average of $4.45. 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, Inc. has a 1-year low of $3.39 and a 1-year high of $5.54.

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

Institutional Trading of Lesaka Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Rathbones Group PLC raised its holdings in shares of Lesaka Technologies by 6.6% during the fourth quarter. Rathbones Group PLC now owns 3,644,420 shares of the company's stock worth $17,384,000 after purchasing an additional 225,000 shares during the period. Barclays PLC raised its holdings in shares of Lesaka Technologies by 13,359.8% during the fourth quarter. Barclays PLC now owns 141,866 shares of the company's stock worth $677,000 after purchasing an additional 140,812 shares during the period. Citadel Advisors LLC grew its position in shares of Lesaka Technologies by 26.4% during the third quarter. Citadel Advisors LLC now owns 18,977 shares of the company's stock worth $79,000 after acquiring an additional 3,959 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Lesaka Technologies in the 3rd quarter worth about $74,000. Finally, 9823 Capital L.P. acquired a new stake in shares of Lesaka Technologies in the 4th quarter worth about $94,000. 24.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LSAK has been the topic of a number of research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Lesaka Technologies in a report on Thursday, January 22nd. Zacks Research raised shares of Lesaka Technologies from a "strong sell" rating to a "hold" rating in a report on Friday, January 23rd. Finally, Wall Street Zen raised shares of Lesaka Technologies to a "hold" rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce".

About Lesaka Technologies

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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