Emerald Mutual Fund Advisers Trust Acquires Shares of 31,165 Pagaya Technologies Ltd. $PGY

Emerald Mutual Fund Advisers Trust bought a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 31,165 shares of the company’s stock, valued at approximately $925,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc bought a new position in Pagaya Technologies in the third quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd grew its position in shares of 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 in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Pagaya Technologies during the 3rd quarter worth $84,000. GAMMA Investing LLC increased its stake in shares of Pagaya Technologies by 21.2% during the second quarter. GAMMA Investing LLC now owns 5,363 shares of the company’s stock valued at $114,000 after buying an additional 938 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of 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 in the last quarter. Institutional investors own 57.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Canaccord Genuity Group upped their price target on shares of Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Benchmark reissued a “buy” rating and set a $48.00 price objective on shares of Pagaya Technologies in a report on Wednesday, October 1st. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.25.

Pagaya Technologies Trading Down 1.2%

NASDAQ PGY opened at $21.81 on Friday. Pagaya Technologies Ltd. has a 52 week low of $8.50 and a 52 week high of $44.99. The company has a 50 day moving average price of $23.04 and a 200 day moving average price of $28.36. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 1.16. The firm has a market cap of $1.75 billion, a PE ratio of -8.17 and a beta of 5.86.

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

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 3,945 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $22.99, for a total value of $90,695.55. Following the completion of the sale, the president owned 129,986 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Evangelos Perros sold 9,750 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $22.99, for a total value of $224,152.50. Following the sale, the chief financial officer owned 100,212 shares in the company, valued at $2,303,873.88. The trade was a 8.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,256 shares of company stock valued at $547,198 in the last quarter. 47.59% of the stock is currently owned by corporate insiders.

About Pagaya Technologies

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.