Pagaya Technologies Ltd. (NASDAQ:PGY) Given Average Recommendation of "Buy" by Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) has received an average recommendation of "Buy" from the eleven ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $32.4286.

Several research analysts recently weighed in on PGY shares. Texas Capital raised Pagaya Technologies to a "strong-buy" rating in a research report on Wednesday, June 10th. B. Riley Financial raised their price objective on Pagaya Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Zacks Research downgraded Pagaya Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings raised shares of Pagaya Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 18th. Finally, Canaccord Genuity Group upped their price objective on shares of Pagaya Technologies from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, July 31st.

Pagaya Technologies Trading Down 1.7%

NASDAQ PGY opened at $21.42 on Friday. Pagaya Technologies has a twelve month low of $10.40 and a twelve month high of $44.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 11.08 and a current ratio of 11.08. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 15.75 and a beta of 5.33. The firm's 50 day moving average price is $16.91 and its two-hundred day moving average price is $14.92.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.53. The company had revenue of $317.94 million during the quarter, compared to analyst estimates of $323.85 million. Pagaya Technologies had a return on equity of 51.56% and a net margin of 9.12%.The company's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. Equities analysts anticipate that Pagaya Technologies will post 2.92 EPS for the current year.

Insider Buying and Selling at Pagaya Technologies

In other news, CAO Cory Vieira sold 2,140 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.01, for a total value of $32,121.40. Following the transaction, the chief accounting officer directly owned 18,179 shares of the company's stock, valued at approximately $272,866.79. This represents a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gal Krubiner bought 16,230 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was purchased at an average cost of $15.43 per share, for a total transaction of $250,428.90. Following the completion of the transaction, the chief executive officer owned 555,906 shares in the company, valued at approximately $8,577,629.58. The trade was a 3.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 107,560 shares of company stock worth $2,011,541 over the last 90 days. 41.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pagaya Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGY. Root Financial Partners LLC bought a new stake in Pagaya Technologies in the fourth quarter worth approximately $27,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Pagaya Technologies by 351.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company's stock valued at $29,000 after purchasing an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC bought a new position in shares of Pagaya Technologies during the 4th quarter valued at $30,000. Quarry LP lifted its stake in shares of Pagaya Technologies by 330.8% in the 4th quarter. Quarry LP now owns 1,663 shares of the company's stock valued at $35,000 after purchasing an additional 1,277 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Pagaya Technologies in the 4th quarter valued at $52,000. Institutional investors own 57.14% of the company's stock.

Pagaya Technologies Company Profile

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source