Alpine Global Management LLC Decreases Stock Position in Pagaya Technologies Ltd. (NASDAQ:PGY)

Alpine Global Management LLC decreased its position in Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 285,000 shares of the company's stock after selling 285,000 shares during the quarter. Pagaya Technologies accounts for approximately 0.6% of Alpine Global Management LLC's holdings, making the stock its 29th biggest holding. Alpine Global Management LLC owned approximately 0.39% of Pagaya Technologies worth $2,648,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. R Squared Ltd acquired a new position in Pagaya Technologies during the 4th quarter worth about $30,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Pagaya Technologies during the fourth quarter valued at approximately $43,000. Nisa Investment Advisors LLC bought a new position in Pagaya Technologies in the 4th quarter worth approximately $57,000. KLP Kapitalforvaltning AS acquired a new position in Pagaya Technologies during the 4th quarter worth $67,000. Finally, CIBC Private Wealth Group LLC boosted its position in Pagaya Technologies by 15.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 11,177 shares of the company's stock valued at $101,000 after buying an additional 1,532 shares during the last quarter. Institutional investors and hedge funds own 57.14% of the company's stock.

Pagaya Technologies Stock Performance

Shares of NASDAQ:PGY traded up $0.30 on Friday, hitting $11.21. The company had a trading volume of 1,324,401 shares, compared to its average volume of 1,774,654. The stock has a 50 day moving average price of $11.10 and a 200 day moving average price of $10.67. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The stock has a market cap of $844.09 million, a price-to-earnings ratio of -2.04 and a beta of 5.89. Pagaya Technologies Ltd. has a 1-year low of $8.20 and a 1-year high of $19.20.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.32). Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The firm had revenue of $279.39 million for the quarter, compared to analyst estimates of $264.28 million. During the same period in the previous year, the business posted $0.24 earnings per share. Analysts expect that Pagaya Technologies Ltd. will post 0.88 EPS for the current year.

Insider Activity at Pagaya Technologies

In other news, insider Tami Rosen sold 9,846 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $12.18, for a total transaction of $119,924.28. Following the completion of the transaction, the insider now directly owns 73,550 shares in the company, valued at $895,839. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Sanjiv Das sold 12,789 shares of the business's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $9.35, for a total value of $119,577.15. Following the completion of the transaction, the president now directly owns 105,817 shares in the company, valued at $989,388.95. This represents a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,004 shares of company stock worth $770,036. Corporate insiders own 49.56% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PGY. JMP Securities boosted their price objective on Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Citigroup raised Pagaya Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $13.00 to $14.50 in a research note on Friday, February 7th. Benchmark reaffirmed a "buy" rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. B. Riley reaffirmed a "buy" rating and set a $36.00 price objective on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $25.00 target price on shares of Pagaya Technologies in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Pagaya Technologies presently has an average rating of "Moderate Buy" and an average target price of $20.61.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.