Lesaka Technologies (NASDAQ:LSAK) Major Shareholder Sells $48,896.10 in Stock

Key Points

• Finance Corp International sold a string of blocks totaling 310,167 shares of Lesaka between March 24 and April 13 for about $1.54 million, and after the April 9 sale reported owning 5,547,856 shares valued at $27.46 million (the April 9 sale was 9,878 shares for $48,896.10).
• Lesaka stock traded down 2.6% to $4.86 on the day, with a market capitalization of $407.85 million, a negative P/E (losses), and a one‑year range of $3.39 to $5.54.
• Analyst sentiment is mixed but cautious: the consensus rating is "Reduce" (one Hold, one Sell), with recent upgrades to Hold from Zacks and Wall Street Zen and sell-side forecasts calling for about -$0.16 EPS for the current fiscal year.

Lesaka Technologies, Inc. (NASDAQ:LSAK - Get Free Report) major shareholder Finance Corp International sold 9,878 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $4.95, for a total value of $48,896.10. Following the completion of the transaction, the insider directly owned 5,547,856 shares in the company, valued at $27,461,887.20. The trade was a 0.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• 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 Wednesday, April 8th, Finance Corp International sold 19,311 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.93, for a total value 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 value of $235,454.14.
• On Monday, April 6th, Finance Corp International sold 34,219 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.95, for a total value 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 value of $49,540.72.
• On Wednesday, April 1st, Finance Corp International sold 18,663 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.97, for a total value of $92,755.11.
• On Tuesday, March 31st, Finance Corp International sold 32,807 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.02, for a total value of $164,691.14.
• On Wednesday, March 25th, Finance Corp International sold 11,104 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.04, for a total value of $55,964.16.
• On Tuesday, March 24th, Finance Corp International sold 16,179 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.02, for a total value of $81,218.58.

Lesaka Technologies Trading Down 2.6%

Shares of Lesaka Technologies stock traded down $0.13 during trading on Monday, hitting $4.86. 108,107 shares of the company were exchanged, compared to its average volume of 100,309. The firm has a market capitalization of $407.85 million, a P/E ratio of -7.71 and a beta of 0.39. Lesaka Technologies, Inc. has a 1-year low of $3.39 and a 1-year high of $5.54. The firm's fifty day moving average price is $4.75 and its 200 day moving average price is $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 (NASDAQ:LSAK - Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The company had revenue of $93.40 million during the quarter, compared to analyst estimates of $166.00 million. Lesaka Technologies had a negative return on equity of 28.23% and a negative net margin of 7.87%. As a group, sell-side analysts expect that Lesaka Technologies, Inc. will post -0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Lesaka Technologies

A number of hedge funds have recently modified their holdings of the business. Citadel Advisors LLC raised 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 purchasing an additional 3,959 shares during the period. Susquehanna International Group LLP bought a new position in shares of Lesaka Technologies during the third quarter worth about $74,000. 9823 Capital L.P. bought a new position in shares of Lesaka Technologies during the fourth quarter worth about $94,000. Barclays PLC grew 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 buying an additional 140,812 shares in the last quarter. Finally, Rathbones Group PLC grew 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 buying an additional 225,000 shares in the last quarter. Institutional investors and hedge funds own 24.19% of the company's stock.

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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