Tikvah Management LLC Lowers Stake in Payoneer Global Inc. $PAYO

Tikvah Management LLC lessened its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 62.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 771,939 shares of the company’s stock after selling 1,292,133 shares during the period. Payoneer Global accounts for about 1.7% of Tikvah Management LLC’s portfolio, making the stock its 12th largest position. Tikvah Management LLC’s holdings in Payoneer Global were worth $5,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Payoneer Global in the 2nd quarter worth about $278,076,000. Pentwater Capital Management LP bought a new position in Payoneer Global in the second quarter worth approximately $70,405,000. Bank of America Corp DE purchased a new position in Payoneer Global during the 2nd quarter worth $26,398,000. Invesco Ltd. lifted its holdings in shares of Payoneer Global by 137.3% in the 2nd 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, California State Teachers Retirement System grew its position in shares of Payoneer Global by 480.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,106,039 shares of the company’s stock worth $14,995,000 after buying an additional 1,743,465 shares in the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were 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 directly owned 2,887,266 shares in the company, valued at $20,239,734.66. This trade represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is owned by insiders.

Payoneer Global Price Performance

PAYO opened at $7.11 on Thursday. The firm has a market capitalization of $2.41 billion, a PE ratio of 50.79, a price-to-earnings-growth ratio of 1.83 and a beta of 0.94. The business’s 50-day moving average is $7.12 and its two-hundred day moving average is $5.93. Payoneer Global Inc. has a 1 year low of $4.08 and a 1 year high of $7.18.

Payoneer Global (NASDAQ:PAYO) last released 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 firm had revenue of $274.26 million for the quarter, compared to analysts’ expectations of $270.98 million. During the same period in the previous year, the company posted $0.05 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Payoneer Global Inc. will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PAYO. Needham & Company LLC downgraded Payoneer Global from a “buy” rating to a “hold” rating in a report on Monday, June 15th. William Blair lowered shares of Payoneer Global from an “outperform” rating to a “hold” rating in a report on Monday, June 15th. Benchmark cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft downgraded shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Keefe, Bruyette & Woods downgraded shares of Payoneer Global from a “moderate buy” rating to a “hold” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Payoneer Global has an average rating of “Hold” and a consensus target price of $7.40.

Payoneer Global Company Profile

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.