Strs Ohio Buys New Shares in Pagaya Technologies Ltd. $PGY

Strs Ohio bought a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 49,072 shares of the company’s stock, valued at approximately $1,457,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PGY. Versant Capital Management Inc acquired a new position in shares of Pagaya Technologies during the third quarter valued at about $25,000. Caitong International Asset Management Co. Ltd raised its stake in Pagaya Technologies by 35.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock worth $42,000 after buying an additional 520 shares during the period. State of Alaska Department of Revenue acquired a new position in Pagaya Technologies during the 3rd quarter worth approximately $84,000. GAMMA Investing LLC boosted its holdings in Pagaya Technologies by 21.2% in the second quarter. GAMMA Investing LLC now owns 5,363 shares of the company’s stock worth $114,000 after acquiring an additional 938 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Pagaya Technologies by 177.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,561 shares of the company’s stock valued at $140,000 after acquiring an additional 4,199 shares during the period. 57.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PGY shares. Keefe, Bruyette & Woods lowered their target price on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, January 2nd. Zacks Research upgraded shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Canaccord Genuity Group raised their price objective on shares of Pagaya Technologies from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Benchmark reissued a “buy” rating and set a $48.00 target price on shares of Pagaya Technologies in a research report on Wednesday, October 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Pagaya Technologies in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Pagaya Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $20.77 on Wednesday. The company has a fifty day moving average price of $23.01 and a 200-day moving average price of $28.41. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -7.78 and a beta of 5.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 11.41 and a quick ratio of 11.41. Pagaya Technologies Ltd. has a 1 year low of $8.50 and a 1 year high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings results on Monday, November 10th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.46. Pagaya Technologies had a negative net margin of 15.32% and a positive return on equity of 31.59%. The business had revenue of $350.17 million for the quarter, compared to analysts’ expectations of $338.86 million. During the same period in the previous year, the company earned $0.44 earnings per share. The firm’s revenue for the quarter was up 36.3% compared to the same quarter last year. As a group, equities research analysts predict that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

Insider Transactions at Pagaya Technologies

In related news, President Sanjiv Das sold 3,945 shares of Pagaya Technologies stock in a transaction on Monday, January 5th. The stock was sold at an average price of $22.99, for a total transaction of $90,695.55. Following the sale, the president directly owned 129,986 shares in the company, valued at approximately $2,988,378.14. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Evangelos Perros sold 9,750 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $224,152.50. Following the completion of the transaction, the chief financial officer owned 100,212 shares of the company’s stock, valued at $2,303,873.88. This trade represents a 8.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,256 shares of company stock worth $547,198 in the last 90 days. Insiders own 47.59% of the company’s stock.

Pagaya Technologies 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.