SG Americas Securities LLC Purchases Shares of 122,441 Pagaya Technologies Ltd. $PGY

SG Americas Securities LLC bought a new stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 122,441 shares of the company’s stock, valued at approximately $1,426,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Root Financial Partners LLC bought a new position in shares of Pagaya Technologies during the 4th quarter worth about $27,000. Aster Capital Management DIFC Ltd raised its position in shares of Pagaya Technologies by 351.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after buying an additional 1,084 shares during the last quarter. Transamerica Financial Advisors LLC bought a new stake in shares of Pagaya Technologies in the fourth quarter valued at about $30,000. Quarry LP lifted its stake in shares of Pagaya Technologies by 330.8% in the fourth quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after buying an additional 1,277 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Pagaya Technologies during the fourth quarter worth about $52,000. 57.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 14,000 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $15.83, for a total value of $221,620.00. Following the sale, the president directly owned 165,475 shares in the company, valued at $2,619,469.25. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tami Rosen sold 9,944 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $15.20, for a total value of $151,148.80. Following the completion of the sale, the director owned 37,544 shares in the company, valued at $570,668.80. This trade represents a 20.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 67,810 shares of company stock worth $1,070,925 over the last three months. 47.59% of the stock is currently owned by insiders.

Pagaya Technologies Price Performance

Shares of PGY opened at $17.79 on Friday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 16.63 and a beta of 5.32. The company has a quick ratio of 12.09, a current ratio of 12.09 and a debt-to-equity ratio of 1.25. Pagaya Technologies Ltd. has a 12 month low of $10.40 and a 12 month high of $44.99. The company has a 50-day moving average price of $14.74 and a two-hundred day moving average price of $15.76.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share for the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. The company had revenue of $91.63 million for the quarter. Equities analysts predict that Pagaya Technologies Ltd. will post 2.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Texas Capital raised Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Zacks Research upgraded Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $32.00 price objective on shares of Pagaya Technologies in a report on Monday, May 18th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Pagaya Technologies currently has an average rating of “Buy” and an average target price of $35.86.

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.