Great Lakes Advisors LLC Invests $3.16 Million in Payoneer Global Inc. $PAYO

Great Lakes Advisors LLC purchased a new stake in Payoneer Global Inc. (NASDAQ:PAYO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 443,922 shares of the company’s stock, valued at approximately $3,161,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Payoneer Global during the second quarter valued at about $278,076,000. State Street Corp lifted its stake in Payoneer Global by 1.8% in the 4th quarter. State Street Corp now owns 10,772,088 shares of the company’s stock worth $60,539,000 after purchasing an additional 195,410 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Payoneer Global by 1.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,436,470 shares of the company’s stock valued at $58,654,000 after purchasing an additional 182,614 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Payoneer Global by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,544,420 shares of the company’s stock valued at $36,438,000 after purchasing an additional 263,030 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Payoneer Global by 137.3% in the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock worth $38,104,000 after purchasing an additional 3,218,917 shares during the period. 82.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PAYO has been the subject of several recent analyst reports. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Citigroup downgraded shares of Payoneer Global from a “buy” rating to a “neutral” rating and lowered their target price for the company from $10.00 to $7.40 in a research note on Tuesday, June 16th. Weiss Ratings lowered shares of Payoneer Global from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Northland Securities set a $7.40 price objective on shares of Payoneer Global in a report on Monday, June 15th. Finally, Keefe, Bruyette & Woods cut Payoneer Global from a “moderate buy” rating to a “hold” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.40.

Payoneer Global Price Performance

PAYO opened at $7.09 on Friday. The stock’s 50 day simple moving average is $7.09 and its 200 day simple moving average is $5.79. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 50.65, a PEG ratio of 1.49 and a beta of 0.96. Payoneer Global Inc. has a 1 year low of $4.08 and a 1 year high of $7.18.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.07). The firm had revenue of $274.26 million during the quarter, compared to the consensus estimate of $270.98 million. Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 EPS. As a group, sell-side analysts anticipate that Payoneer Global Inc. will post 0.2 EPS for the current year.

Insider Activity at Payoneer Global

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of Payoneer Global stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer directly owned 2,887,266 shares of the company’s stock, valued at approximately $20,239,734.66. The trade was a 0.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.06% of the company’s stock.

About Payoneer Global

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.