Insider Selling: Paysign, Inc. (NASDAQ:PAYS) CEO Sells 8,000 Shares of Stock

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) CEO Mark Newcomer sold 8,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $5.00, for a total transaction of $40,000.00. Following the transaction, the chief executive officer now owns 8,662,886 shares of the company's stock, valued at approximately $43,314,430. The trade was a 0.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mark Newcomer also recently made the following trade(s):

• On Tuesday, June 10th, Mark Newcomer sold 31,500 shares of Paysign stock. The shares were sold at an average price of $5.00, for a total transaction of $157,500.00.
• On Monday, June 9th, Mark Newcomer sold 46,500 shares of Paysign stock. The stock was sold at an average price of $5.00, for a total transaction of $232,500.00.
• On Thursday, June 5th, Mark Newcomer sold 19,693 shares of Paysign stock. The shares were sold at an average price of $4.51, for a total value of $88,815.43.
• On Monday, June 2nd, Mark Newcomer sold 307 shares of Paysign stock. The stock was sold at an average price of $4.50, for a total value of $1,381.50.
• On Thursday, May 29th, Mark Newcomer sold 168,000 shares of Paysign stock. The shares were sold at an average price of $4.51, for a total value of $757,680.00.

Paysign Trading Down 3.8%

Shares of Paysign stock traded down $0.19 on Friday, reaching $4.86. The stock had a trading volume of 411,659 shares, compared to its average volume of 232,952. The business's 50 day moving average is $3.17 and its two-hundred day moving average is $2.91. Paysign, Inc. has a 1 year low of $1.80 and a 1 year high of $5.59. The company has a market cap of $263.50 million, a P/E ratio of 32.40 and a beta of 0.60.

Paysign (NASDAQ:PAYS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. Paysign had a net margin of 14.28% and a return on equity of 30.64%. The business had revenue of $18.60 million for the quarter, compared to analyst estimates of $17.49 million. On average, equities analysts anticipate that Paysign, Inc. will post 0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Paysign

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP raised its holdings in shares of Paysign by 98.8% in the 4th quarter. Two Sigma Investments LP now owns 181,775 shares of the company's stock valued at $549,000 after acquiring an additional 90,346 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Paysign by 51.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 267,899 shares of the company's stock valued at $809,000 after purchasing an additional 90,702 shares in the last quarter. Millennium Management LLC raised its stake in Paysign by 123.6% in the fourth quarter. Millennium Management LLC now owns 325,334 shares of the company's stock valued at $983,000 after purchasing an additional 179,814 shares in the last quarter. Renaissance Technologies LLC lifted its position in Paysign by 11.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company's stock valued at $4,535,000 after purchasing an additional 149,200 shares during the last quarter. Finally, 1248 Management LLC bought a new stake in Paysign during the fourth quarter valued at approximately $2,778,000. 25.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAYS has been the subject of several research reports. DA Davidson increased their price target on Paysign from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. LADENBURG THALM/SH SH increased their target price on shares of Paysign from $7.25 to $8.25 and gave the stock a "buy" rating in a research report on Friday, May 9th. Lake Street Capital lifted their target price on shares of Paysign from $6.00 to $7.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $7.00 price objective on shares of Paysign in a report on Wednesday, March 26th.

About Paysign

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.