Flputnam Investment Management Co. Takes Position in Payoneer Global Inc. $PAYO

Flputnam Investment Management Co. acquired a new position in Payoneer Global Inc. (NASDAQ:PAYO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 214,042 shares of the company’s stock, valued at approximately $1,524,000.

Several other hedge funds also recently made changes to their positions in the business. Alberta Investment Management Corp bought a new stake in shares of Payoneer Global in the 2nd quarter worth approximately $3,204,000. Bank of New York Mellon Corp bought a new stake in Payoneer Global during the second quarter worth approximately $10,549,000. State of Wyoming bought a new stake in Payoneer Global during the second quarter worth approximately $295,000. Walleye Capital LLC acquired a new position in Payoneer Global in the second quarter worth approximately $148,000. Finally, Handelsbanken Fonder AB grew its position in Payoneer Global by 16.8% in the second quarter. Handelsbanken Fonder AB now owns 80,500 shares of the company’s stock worth $573,000 after buying an additional 11,600 shares during the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. William Blair cut Payoneer Global from an “outperform” rating to a “hold” rating in a report on Monday, June 15th. Needham & Company LLC lowered Payoneer Global from a “buy” rating to a “hold” rating in a research note on Monday, June 15th. Keefe, Bruyette & Woods cut Payoneer Global from a “moderate buy” rating to a “hold” rating in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft lowered Payoneer Global from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Benchmark downgraded Payoneer Global from a “buy” rating to a “hold” rating in a report on Thursday, June 18th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.40.

Payoneer Global Price Performance

Payoneer Global stock opened at $7.13 on Tuesday. Payoneer Global Inc. has a fifty-two week low of $4.08 and a fifty-two week high of $7.18. The firm’s 50 day simple moving average is $7.06 and its 200-day simple moving average is $5.78. The company has a market cap of $2.42 billion, a P/E ratio of 50.93, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.07). Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The firm had revenue of $274.26 million during the quarter, compared to analysts’ expectations of $270.98 million. During the same quarter last year, the company posted $0.05 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, analysts expect that Payoneer Global Inc. will post 0.2 EPS for the current fiscal year.

Insider Transactions at Payoneer Global

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were 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 $20,239,734.66. The trade was a 0.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is currently owned by company insiders.

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.