Lesaka Technologies (NASDAQ:LSAK) Major Shareholder Sells $10,874.86 in Stock

Lesaka Technologies, Inc. (NASDAQ:LSAK) major shareholder Finance Corp International sold 2,162 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $5.03, for a total value of $10,874.86. Following the sale, the insider owned 5,788,338 shares of the company’s stock, valued at approximately $29,115,340.14. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Finance Corp International also recently made the following trade(s):

• On Wednesday, March 25th, Finance Corp International sold 11,104 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.04, for a total value of $55,964.16.
• On Tuesday, March 24th, Finance Corp International sold 16,179 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.02, for a total value of $81,218.58.
• On Thursday, March 19th, Finance Corp International sold 34,607 shares of Lesaka Technologies stock. The shares were sold at an average price of $5.06, for a total value of $175,111.42.
• On Wednesday, March 18th, Finance Corp International sold 4,819 shares of Lesaka Technologies stock. The shares were sold at an average price of $5.38, for a total transaction of $25,926.22.
• On Tuesday, March 17th, Finance Corp International sold 87,041 shares of Lesaka Technologies stock. The stock was sold at an average price of $5.31, for a total transaction of $462,187.71.
• On Monday, March 16th, Finance Corp International sold 27,389 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.94, for a total transaction of $135,301.66.
• On Friday, March 13th, Finance Corp International sold 60,000 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.85, for a total transaction of $291,000.00.
• On Tuesday, March 10th, Finance Corp International sold 24,532 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.64, for a total transaction of $113,828.48.
• On Thursday, March 12th, Finance Corp International sold 2,839 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.68, for a total transaction of $13,286.52.
• On Wednesday, March 11th, Finance Corp International sold 4,235 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.65, for a total transaction of $19,692.75.

Lesaka Technologies Stock Performance

Shares of Lesaka Technologies stock opened at $4.90 on Friday. The company’s fifty day simple moving average is $4.69 and its 200-day simple moving average is $4.40. The stock has a market capitalization of $411.21 million, a PE ratio of -7.78 and a beta of 0.46. Lesaka Technologies, Inc. has a 1-year low of $3.39 and a 1-year high of $5.54. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.57 and a quick ratio of 1.43.

Lesaka Technologies (NASDAQ:LSAK) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The firm had revenue of $93.40 million during the quarter, compared to the consensus estimate of $166.00 million. Lesaka Technologies had a negative net margin of 7.87% and a negative return on equity of 28.23%. As a group, equities analysts anticipate that Lesaka Technologies, Inc. will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Susquehanna International Group LLP bought a new position in Lesaka Technologies in the 3rd quarter worth $74,000. Citadel Advisors LLC increased its stake in Lesaka Technologies by 26.4% in the 3rd quarter. Citadel Advisors LLC now owns 18,977 shares of the company’s stock worth $79,000 after buying an additional 3,959 shares in the last quarter. 9823 Capital L.P. bought a new stake in Lesaka Technologies during the fourth quarter valued at about $94,000. Barclays PLC raised its holdings in Lesaka Technologies by 13,359.8% during the fourth quarter. Barclays PLC now owns 141,866 shares of the company’s stock valued at $677,000 after acquiring an additional 140,812 shares during the period. Finally, Potomac Capital Management Inc. purchased a new position in shares of Lesaka Technologies in the fourth quarter valued at about $4,766,000. Hedge funds and other institutional investors own 24.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LSAK. Wall Street Zen upgraded Lesaka Technologies to a “hold” rating in a research report on Saturday, February 14th. Zacks Research raised Lesaka Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lesaka Technologies in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Lesaka Technologies Company Profile

Lesaka Technologies, Inc operates as a Fintech company that utilizes its proprietary banking and payment technologies to deliver financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. It offers cash management solutions, growth capital, card acquiring, bill payment technologies, and value-added services to formal and informal retail merchants, as well as banking, lending, and insurance solutions to consumers across Southern Africa. The company also engages in the sale of POS devices, SIM cards, and other consumables; and license of rights to use certain technology developed by the company, as well as offers related technology services.