B. Riley Reiterates “Buy” Rating for Pagaya Technologies (NASDAQ:PGY)

B. Riley reaffirmed their buy rating on shares of Pagaya Technologies (NASDAQ:PGY) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $36.00 target price on the stock.

Several other equities research analysts also recently issued reports on the company. JMP Securities increased their target price on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. UBS Group began coverage on Pagaya Technologies in a research report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price objective on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research report on Thursday, February 13th. Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research report on Monday. Finally, Citigroup upgraded Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.61.

Pagaya Technologies Trading Up 8.7 %

NASDAQ:PGY opened at $11.48 on Monday. The company has a market cap of $845.57 million, a P/E ratio of -2.09 and a beta of 5.98. The stock’s fifty day moving average price is $11.08 and its two-hundred day moving average price is $11.00. Pagaya Technologies has a 1 year low of $8.20 and a 1 year high of $19.20. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.32). The company had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $264.28 million. Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. During the same quarter in the prior year, the company earned $0.24 EPS. As a group, analysts expect that Pagaya Technologies will post 0.88 EPS for the current year.

Insider Activity at Pagaya Technologies

In other news, President Sanjiv Das sold 6,343 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total transaction of $63,239.71. Following the transaction, the president now directly owns 75,528 shares of the company’s stock, valued at approximately $753,014.16. This trade represents a 7.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tami Rosen sold 35,369 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $15.00, for a total value of $530,535.00. Following the transaction, the insider now directly owns 38,181 shares in the company, valued at $572,715. This trade represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,692 shares of company stock valued at $1,205,379 over the last 90 days. 49.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PGY. GSA Capital Partners LLP bought a new position in shares of Pagaya Technologies during the third quarter valued at about $374,000. Intech Investment Management LLC bought a new position in shares of Pagaya Technologies during the third quarter valued at about $191,000. Charles Schwab Investment Management Inc. grew its stake in shares of Pagaya Technologies by 17.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 111,991 shares of the company’s stock valued at $1,184,000 after buying an additional 16,533 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Pagaya Technologies by 13.2% in the third quarter. The Manufacturers Life Insurance Company now owns 16,614 shares of the company’s stock worth $176,000 after purchasing an additional 1,937 shares during the last quarter. Finally, FMR LLC increased its holdings in Pagaya Technologies by 8.3% during the 3rd quarter. FMR LLC now owns 524,570 shares of the company’s stock valued at $5,545,000 after purchasing an additional 40,031 shares during the period. 57.14% of the stock is owned by institutional investors.

About Pagaya Technologies

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.