Payoneer Global Inc. (NASDAQ:PAYO) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC grew its holdings in Payoneer Global Inc. (NASDAQ:PAYO) by 28.6% during the 3rd quarter, Holdings Channel reports. The firm owned 142,207 shares of the company’s stock after buying an additional 31,646 shares during the period. Verition Fund Management LLC’s holdings in Payoneer Global were worth $1,071,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PAYO. Quarry LP purchased a new position in Payoneer Global in the 2nd quarter valued at about $29,000. Blue Trust Inc. lifted its stake in shares of Payoneer Global by 135.2% during the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after buying an additional 2,552 shares during the period. GAMMA Investing LLC lifted its stake in shares of Payoneer Global by 438.5% during the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after buying an additional 4,736 shares during the period. Sage Rhino Capital LLC acquired a new stake in Payoneer Global during the second quarter worth approximately $56,000. Finally, FSC Wealth Advisors LLC purchased a new stake in Payoneer Global in the 3rd quarter worth approximately $68,000. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $10.95 on Monday. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 31.29 and a beta of 0.90. Payoneer Global Inc. has a one year low of $4.22 and a one year high of $11.29. The company’s 50 day moving average price is $9.35 and its 200 day moving average price is $7.35.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business had revenue of $248.30 million for the quarter, compared to the consensus estimate of $225.44 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. Sell-side analysts forecast that Payoneer Global Inc. will post 0.32 EPS for the current fiscal year.

Insider Transactions at Payoneer Global

In other Payoneer Global news, insider Crossover Managemen Technology sold 7,500,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $10.32, for a total value of $77,400,000.00. Following the transaction, the insider now owns 34,197,116 shares in the company, valued at $352,914,237.12. The trade was a 17.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Itai Perry sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total value of $31,200.00. Following the sale, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at $1,829,904. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,562,402 shares of company stock valued at $78,043,152 over the last quarter. Company insiders own 5.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PAYO. Northland Securities raised their price objective on Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Citigroup upped their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 12th. Benchmark raised their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $11.36.

About Payoneer Global

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.