Emerald Mutual Fund Advisers Trust Makes New $925,000 Investment in Pagaya Technologies Ltd. $PGY

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

Several other institutional investors and hedge funds have also made changes to their positions in PGY. Versant Capital Management Inc purchased a new stake in shares of Pagaya Technologies during the third quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its position in 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 acquiring an additional 520 shares during the period. State of Alaska Department of Revenue acquired a new stake in Pagaya Technologies during the 3rd quarter worth about $84,000. GAMMA Investing LLC grew its stake in Pagaya Technologies by 21.2% during the 2nd quarter. GAMMA Investing LLC now owns 5,363 shares of the company’s stock valued at $114,000 after purchasing an additional 938 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased 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 purchasing an additional 4,199 shares during the period. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Pagaya Technologies Price Performance

Shares of NASDAQ PGY opened at $21.81 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 11.41 and a quick ratio of 11.41. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -8.17 and a beta of 5.86. The firm’s 50 day simple moving average is $23.04 and its 200-day simple moving average is $28.36. Pagaya Technologies Ltd. has a 12 month low of $8.50 and a 12 month high of $44.99.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings results on Monday, November 10th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.46. The firm had revenue of $350.17 million for 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%. The firm’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. Analysts expect that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PGY. Canaccord Genuity Group lifted their target price on Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Benchmark restated a “buy” rating and set a $48.00 price objective on shares of Pagaya Technologies in a research note on Wednesday, October 1st. Zacks Research raised shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Keefe, Bruyette & Woods reduced their target price on shares of Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, January 2nd. Finally, Wall Street Zen lowered shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Insider Transactions at Pagaya Technologies

In other news, insider Tami Rosen sold 7,561 shares of the stock in a transaction dated Friday, December 19th. The shares were 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 $1,153,727.12. This represents a 16.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Evangelos Perros sold 9,750 shares of Pagaya Technologies stock in a transaction dated Monday, January 5th. The shares were 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 owned 100,212 shares of the company’s stock, valued at approximately $2,303,873.88. This represents a 8.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,256 shares of company stock valued at $547,198 in the last ninety days. 47.59% of the stock is currently owned by corporate insiders.

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.