Thames Capital Management LLC Makes New $4.09 Million Investment in Pagaya Technologies Ltd. $PGY

Thames Capital Management LLC bought a new stake in Pagaya Technologies Ltd. (NASDAQ:PGY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 137,778 shares of the company’s stock, valued at approximately $4,091,000. Thames Capital Management LLC owned approximately 0.18% of Pagaya Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. AQR Capital Management LLC lifted its position in shares of Pagaya Technologies by 2,722.3% in the first quarter. AQR Capital Management LLC now owns 305,710 shares of the company’s stock valued at $3,204,000 after buying an additional 294,878 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Pagaya Technologies by 11.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company’s stock valued at $653,000 after buying an additional 6,365 shares during the period. Millennium Management LLC boosted its holdings in shares of Pagaya Technologies by 320.1% in the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company’s stock valued at $13,230,000 after purchasing an additional 961,944 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Pagaya Technologies by 26.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company’s stock valued at $17,871,000 after purchasing an additional 359,099 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in Pagaya Technologies by 24.1% in the first quarter. Voya Investment Management LLC now owns 29,452 shares of the company’s stock valued at $309,000 after buying an additional 5,723 shares in the last quarter. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen downgraded Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Canaccord Genuity Group upped their price objective on shares of Pagaya Technologies from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Keefe, Bruyette & Woods cut their target price on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, January 2nd. Zacks Research upgraded shares of Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Finally, Benchmark restated a “buy” rating and issued a $48.00 price objective on shares of Pagaya Technologies in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.25.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 7,561 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $30.73, for a total transaction of $232,349.53. Following the sale, the insider owned 37,544 shares in the company, valued at $1,153,727.12. This represents a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Evangelos Perros sold 9,750 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $22.99, for a total value of $224,152.50. Following the sale, the chief financial officer directly owned 100,212 shares in the company, valued at $2,303,873.88. This trade represents a 8.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,256 shares of company stock valued at $547,198 in the last 90 days. 47.59% of the stock is currently owned by company insiders.

Pagaya Technologies Stock Performance

Shares of PGY opened at $22.83 on Friday. Pagaya Technologies Ltd. has a 1 year low of $8.50 and a 1 year high of $44.99. The company has a debt-to-equity ratio of 1.16, a current ratio of 11.41 and a quick ratio of 11.41. The stock’s fifty day moving average price is $23.49 and its two-hundred day moving average price is $28.37. The firm has a market cap of $1.84 billion, a PE ratio of -8.55 and a beta of 5.86.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings data on Monday, November 10th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.46. The business had revenue of $350.17 million for the quarter, compared to analysts’ expectations of $338.86 million. Pagaya Technologies had a positive return on equity of 31.59% and a negative net margin of 15.32%.The firm’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. On average, equities research analysts forecast that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

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.