Susquehanna International Group LLP Trims Stock Position in Payoneer Global Inc. $PAYO

Susquehanna International Group LLP lessened its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 98.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 24,537 shares of the company’s stock after selling 1,300,000 shares during the period. Susquehanna International Group LLP’s holdings in Payoneer Global were worth $175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Payoneer Global during the second quarter worth about $278,076,000. Pentwater Capital Management LP purchased a new position in Payoneer Global during the 2nd quarter worth approximately $70,405,000. Bank of America Corp DE purchased a new position in Payoneer Global during the 2nd quarter worth approximately $26,398,000. Invesco Ltd. increased its position in Payoneer Global by 137.3% during the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock worth $38,104,000 after buying an additional 3,218,917 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Payoneer Global during the second quarter worth approximately $10,549,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PAYO shares. Benchmark downgraded Payoneer Global from a “buy” rating to a “hold” rating in a report on Thursday, June 18th. Needham & Company LLC downgraded shares of Payoneer Global from a “buy” rating to a “hold” rating in a research report on Monday, June 15th. Citigroup cut shares of Payoneer Global from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $7.40 in a research note on Tuesday, June 16th. William Blair downgraded shares of Payoneer Global from an “outperform” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Keefe, Bruyette & Woods lowered shares of Payoneer Global from a “moderate buy” rating to a “hold” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.40.

Insider Buying and Selling

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the sale, the chief financial officer owned 2,887,266 shares of the company’s stock, valued at approximately $20,239,734.66. This trade represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.06% of the company’s stock.

Payoneer Global Trading Up 0.3%

Shares of PAYO opened at $7.12 on Thursday. The stock’s 50 day moving average is $7.11 and its two-hundred day moving average is $5.87. Payoneer Global Inc. has a twelve month low of $4.08 and a twelve month high of $7.18. The firm has a market capitalization of $2.41 billion, a PE ratio of 50.86, a P/E/G ratio of 1.49 and a beta of 0.94.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.07). Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The business had revenue of $274.26 million during the quarter, compared to analyst estimates of $270.98 million. During the same period in the prior year, the business earned $0.05 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Payoneer Global Inc. will post 0.2 EPS for the current year.

About Payoneer Global

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.