Verition Fund Management LLC Buys Shares of 11,332 Paysafe Limited (NYSE:PSFE)

Verition Fund Management LLC purchased a new stake in shares of Paysafe Limited (NYSE:PSFE) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 11,332 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSFE. Martingale Asset Management L P lifted its holdings in Paysafe by 61.5% in the third quarter. Martingale Asset Management L P now owns 36,269 shares of the company’s stock valued at $814,000 after acquiring an additional 13,806 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Paysafe in the 3rd quarter worth approximately $176,000. Foundry Partners LLC purchased a new position in shares of Paysafe in the third quarter worth approximately $5,450,000. Empowered Funds LLC grew its position in Paysafe by 5.3% during the third quarter. Empowered Funds LLC now owns 238,448 shares of the company’s stock valued at $5,348,000 after buying an additional 12,060 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Paysafe during the third quarter valued at approximately $225,000. 54.39% of the stock is currently owned by hedge funds and other institutional investors.

Paysafe Stock Down 1.6 %

Shares of PSFE stock opened at $18.65 on Friday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.14 and a quick ratio of 1.14. Paysafe Limited has a one year low of $11.02 and a one year high of $26.25. The company’s fifty day moving average price is $20.74 and its 200-day moving average price is $20.32. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -49.08, a PEG ratio of 0.61 and a beta of 1.86.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PSFE. Susquehanna dropped their price target on shares of Paysafe from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Bank of America raised their target price on Paysafe from $16.20 to $19.00 and gave the stock an “underperform” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada cut their price target on Paysafe from $25.00 to $21.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Paysafe presently has a consensus rating of “Hold” and an average price target of $19.40.

About Paysafe

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.