Emerald Mutual Fund Advisers Trust Grows Stock Position in Pagaya Technologies Ltd. $PGY

Emerald Mutual Fund Advisers Trust increased its stake in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 139.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 74,640 shares of the company’s stock after purchasing an additional 43,475 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Pagaya Technologies were worth $870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In other news, CEO Gal Krubiner purchased 16,230 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was acquired at an average price of $15.43 per share, for a total transaction of $250,428.90. Following the completion of the transaction, the chief executive officer directly owned 555,906 shares in the company, valued at $8,577,629.58. This represents a 3.01% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, President Sanjiv Das sold 14,000 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $15.83, for a total transaction of $221,620.00. Following the completion of the sale, the president directly owned 165,475 shares in the company, valued at approximately $2,619,469.25. The trade was a 7.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 67,810 shares of company stock valued at $1,070,925 in the last three months. 41.99% of the stock is owned by insiders.

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY opened at $18.27 on Wednesday. The business’s 50 day simple moving average is $15.35 and its 200-day simple moving average is $15.49. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 17.07 and a beta of 5.32. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09. Pagaya Technologies Ltd. has a 12 month low of $10.40 and a 12 month high of $44.99.

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. The firm had revenue of $91.63 million during the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. As a group, equities analysts forecast that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Texas Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a research report on Wednesday, June 10th. Zacks Research cut Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Canaccord Genuity Group reissued a “buy” rating and set a $32.00 target price on shares of Pagaya Technologies in a research note on Monday, May 18th. Finally, Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus 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.