Investors Purchase High Volume of Pagaya Technologies Put Options (NASDAQ:PGY)

Pagaya Technologies Ltd. (NASDAQ:PGY) saw unusually large options trading activity on Monday. Stock traders bought 32,234 put options on the company. This is an increase of 321% compared to the average daily volume of 7,658 put options.

Pagaya Technologies Trading Up 1.6%

NASDAQ:PGY traded up $0.19 on Monday, hitting $11.68. 1,877,252 shares of the stock were exchanged, compared to its average volume of 4,372,352. The company has a debt-to-equity ratio of 1.22, a quick ratio of 10.55 and a current ratio of 10.55. Pagaya Technologies has a 52 week low of $8.50 and a 52 week high of $44.99. The stock has a market capitalization of $938.99 million, a price-to-earnings ratio of 13.07 and a beta of 5.92. The company’s 50-day moving average price is $17.85 and its 200 day moving average price is $25.18.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results on Monday, February 9th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.75 by $0.05. The company had revenue of $334.81 million during the quarter, compared to analysts’ expectations of $348.75 million. Pagaya Technologies had a net margin of 6.25% and a return on equity of 44.24%. Pagaya Technologies’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 EPS. On average, equities research analysts forecast that Pagaya Technologies will post 0.88 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings raised Pagaya Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday. Benchmark decreased their price target on Pagaya Technologies from $48.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Freedom Capital raised Pagaya Technologies to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, Canaccord Genuity Group decreased their price objective on shares of Pagaya Technologies from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.11.

Insider Activity

In other Pagaya Technologies news, insider Tami Rosen sold 7,561 shares of Pagaya Technologies stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $30.73, for a total transaction of $232,349.53. Following the sale, the insider directly owned 37,544 shares of the company’s stock, valued at approximately $1,153,727.12. The trade was a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Evangelos Perros sold 9,750 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $22.99, for a total value of $224,152.50. Following the completion of the transaction, the chief financial officer directly owned 100,212 shares of the company’s stock, valued at approximately $2,303,873.88. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 21,256 shares of company stock worth $547,198. Corporate insiders own 47.59% of the company’s stock.

Institutional Trading of Pagaya Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Moody National Bank Trust Division grew its stake in Pagaya Technologies by 2.4% in the fourth quarter. Moody National Bank Trust Division now owns 28,978 shares of the company’s stock valued at $606,000 after purchasing an additional 666 shares in the last quarter. Main Management ETF Advisors LLC raised its stake in shares of Pagaya Technologies by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 72,036 shares of the company’s stock worth $1,506,000 after purchasing an additional 736 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Pagaya Technologies by 5.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 16,493 shares of the company’s stock valued at $345,000 after buying an additional 790 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Pagaya Technologies in the third quarter valued at $25,000. Finally, MetLife Investment Management LLC increased its holdings in Pagaya Technologies by 3.2% during the fourth quarter. MetLife Investment Management LLC now owns 27,845 shares of the company’s stock worth $582,000 after buying an additional 867 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

Pagaya Technologies Company 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.