Potomac Capital Management Inc. Buys Shares of 999,116 Lesaka Technologies, Inc. $LSAK

Potomac Capital Management Inc. bought a new stake in shares of Lesaka Technologies, Inc. (NASDAQ:LSAK) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 999,116 shares of the company’s stock, valued at approximately $4,766,000. Lesaka Technologies accounts for approximately 3.8% of Potomac Capital Management Inc.’s portfolio, making the stock its 4th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rathbones Group PLC raised its position in Lesaka Technologies by 6.6% during the 4th quarter. Rathbones Group PLC now owns 3,644,420 shares of the company’s stock valued at $17,384,000 after purchasing an additional 225,000 shares in the last quarter. Susquehanna International Group LLP bought a new stake in Lesaka Technologies during the 3rd quarter valued at $74,000. Finally, Citadel Advisors LLC raised its position in Lesaka Technologies by 26.4% during the 3rd quarter. Citadel Advisors LLC now owns 18,977 shares of the company’s stock valued at $79,000 after purchasing an additional 3,959 shares in the last quarter. 24.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Lesaka Technologies

In related news, major shareholder Finance Corp International sold 66,437 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $4.90, for a total transaction of $325,541.30. Following the completion of the sale, the insider directly owned 5,244,859 shares in the company, valued at $25,699,809.10. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders sold 721,897 shares of company stock worth $3,597,157. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

LSAK has been the subject of a number of analyst reports. Wall Street Zen upgraded Lesaka Technologies from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings raised Lesaka Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Lesaka Technologies currently has an average rating of “Reduce”.

Lesaka Technologies Trading Up 1.9%

Shares of NASDAQ LSAK opened at $4.90 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.54 and a quick ratio of 1.44. The stock has a market capitalization of $420.13 million, a P/E ratio of -14.00 and a beta of 0.31. Lesaka Technologies, Inc. has a 1-year low of $3.62 and a 1-year high of $5.54. The business has a fifty day moving average price of $4.93 and a 200 day moving average price of $4.67.

Lesaka Technologies (NASDAQ:LSAK) last issued its quarterly earnings data on Friday, March 27th. The company reported $0.03 earnings per share for the quarter. The firm had revenue of $96.37 million during the quarter. Lesaka Technologies had a negative return on equity of 15.95% and a negative net margin of 4.11%. Equities research analysts expect that Lesaka Technologies, Inc. will post 0.03 EPS for the current fiscal year.

Lesaka Technologies Profile

Lesaka Technologies, Inc operates as a Fintech company that utilizes its proprietary banking and payment technologies to deliver financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. It offers cash management solutions, growth capital, card acquiring, bill payment technologies, and value-added services to formal and informal retail merchants, as well as banking, lending, and insurance solutions to consumers across Southern Africa. The company also engages in the sale of POS devices, SIM cards, and other consumables; and license of rights to use certain technology developed by the company, as well as offers related technology services.