Entropy Technologies LP Grows Stock Holdings in Pagaya Technologies Ltd. $PGY

Entropy Technologies LP lifted its stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 182.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,065 shares of the company’s stock after purchasing an additional 45,926 shares during the quarter. Entropy Technologies LP’s holdings in Pagaya Technologies were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Root Financial Partners LLC bought a new position in Pagaya Technologies during the 4th quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd boosted its holdings in Pagaya Technologies by 351.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock worth $29,000 after acquiring an additional 1,084 shares in the last quarter. Transamerica Financial Advisors LLC bought a new stake in Pagaya Technologies in the fourth quarter worth $30,000. Quarry LP grew its stake in shares of Pagaya Technologies by 330.8% in the fourth quarter. Quarry LP now owns 1,663 shares of the company’s stock worth $35,000 after acquiring an additional 1,277 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Pagaya Technologies in the fourth quarter worth $52,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PGY. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Zacks Research cut shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $32.00 price objective on shares of Pagaya Technologies in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $35.86.

Pagaya Technologies Trading Down 2.1%

Pagaya Technologies stock opened at $16.61 on Wednesday. Pagaya Technologies Ltd. has a one year low of $10.40 and a one year high of $44.99. The business’s fifty day moving average is $15.96 and its 200 day moving average is $15.11. The stock has a market capitalization of $1.38 billion, a PE ratio of 15.52 and a beta of 5.32. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. The business had revenue of $91.63 million during the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%. On average, sell-side analysts predict that Pagaya Technologies Ltd. will post 2.92 EPS for the current year.

Insider Transactions at Pagaya Technologies

In related news, President Sanjiv Das sold 14,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $15.83, for a total transaction of $221,620.00. Following the transaction, the president owned 165,475 shares in the company, valued at $2,619,469.25. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tami Rosen sold 9,944 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $15.20, for a total transaction of $151,148.80. Following the transaction, the director owned 37,544 shares in the company, valued at approximately $570,668.80. This trade represents a 20.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 58,090 shares of company stock valued at $923,764. Company insiders own 41.99% 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.