Insider Selling: Lesaka Technologies (NASDAQ:LSAK) Major Shareholder Sells $81,218.58 in Stock

Lesaka Technologies, Inc. (NASDAQ:LSAK) major shareholder Finance Corp International sold 16,179 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $5.02, for a total value of $81,218.58. Following the sale, the insider owned 5,772,159 shares of the company’s stock, valued at approximately $28,976,238.18. This represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 shares were sold at an average price of $5.04, for a total value of $55,964.16.
• On Monday, March 23rd, Finance Corp International sold 2,162 shares of Lesaka Technologies stock. The shares were sold at an average price of $5.03, for a total value of $10,874.86.
• On Thursday, March 19th, Finance Corp International sold 34,607 shares of Lesaka Technologies stock. The stock was 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 stock was sold at an average price of $5.38, for a total value 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 value of $462,187.71.
• On Monday, March 16th, Finance Corp International sold 27,389 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.94, for a total value of $135,301.66.
• On Friday, March 13th, Finance Corp International sold 60,000 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.85, for a total value of $291,000.00.
• On Tuesday, March 10th, Finance Corp International sold 24,532 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.64, for a total value of $113,828.48.
• On Thursday, March 12th, Finance Corp International sold 2,839 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.68, for a total value of $13,286.52.
• On Wednesday, March 11th, Finance Corp International sold 4,235 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.65, for a total transaction of $19,692.75.

Lesaka Technologies Price Performance

NASDAQ LSAK opened at $4.90 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.57 and a debt-to-equity ratio of 1.09. 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 12-month low of $3.39 and a 12-month high of $5.54. The company has a 50 day moving average price of $4.69 and a two-hundred day moving average price of $4.40.

Lesaka Technologies (NASDAQ:LSAK) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.04 by $0.04. The company had revenue of $93.40 million for the quarter, compared to analyst estimates 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 predict that Lesaka Technologies, Inc. will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of Lesaka Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Rathbones Group PLC grew its stake in Lesaka Technologies by 6.6% in the 4th quarter. Rathbones Group PLC now owns 3,644,420 shares of the company’s stock valued at $17,384,000 after buying an additional 225,000 shares during the last quarter. Potomac Capital Management Inc. bought a new position in Lesaka Technologies in the 4th quarter worth $4,766,000. Barclays PLC lifted its position in Lesaka Technologies by 13,359.8% during the 4th quarter. Barclays PLC now owns 141,866 shares of the company’s stock worth $677,000 after acquiring an additional 140,812 shares during the last quarter. 9823 Capital L.P. acquired a new position in Lesaka Technologies during the 4th quarter worth $94,000. Finally, Citadel Advisors LLC boosted its holdings in Lesaka Technologies by 26.4% during the third quarter. Citadel Advisors LLC now owns 18,977 shares of the company’s stock valued at $79,000 after acquiring an additional 3,959 shares during the period. 24.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LSAK has been the topic of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Lesaka Technologies in a research report on Thursday, January 22nd. Zacks Research raised Lesaka Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Wall Street Zen upgraded Lesaka Technologies to a “hold” rating in a research note on Saturday, February 14th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lesaka Technologies currently 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.