Connor Clark & Lunn Investment Management Ltd. Invests $3.04 Million in Payoneer Global Inc. (NASDAQ:PAYO)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 302,500 shares of the company's stock, valued at approximately $3,037,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Payoneer Global at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in shares of Payoneer Global by 21.2% during the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company's stock worth $54,000 after acquiring an additional 940 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Payoneer Global by 29.3% during the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock valued at $45,000 after buying an additional 1,016 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Payoneer Global by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 145,923 shares of the company's stock worth $1,465,000 after purchasing an additional 1,498 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Payoneer Global by 1.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 124,100 shares of the company's stock worth $1,246,000 after purchasing an additional 1,700 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Payoneer Global by 1.2% during the third quarter. The Manufacturers Life Insurance Company now owns 165,996 shares of the company's stock worth $1,250,000 after purchasing an additional 1,907 shares during the period. Hedge funds and other institutional investors own 82.22% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total value of $884,000.00. Following the sale, the chief financial officer now owns 2,305,245 shares in the company, valued at $23,974,548. The trade was a 3.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tsafi Goldman sold 96,350 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total transaction of $970,244.50. Following the completion of the sale, the insider now owns 741,748 shares in the company, valued at approximately $7,469,402.36. The trade was a 11.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.57% of the company's stock.

Payoneer Global Trading Down 1.3 %

Shares of PAYO traded down $0.10 during trading hours on Friday, reaching $7.46. 7,424,214 shares of the stock traded hands, compared to its average volume of 2,750,134. Payoneer Global Inc. has a 52-week low of $4.60 and a 52-week high of $11.29. The company's 50-day moving average price is $9.54 and its two-hundred day moving average price is $9.28. The company has a market cap of $2.68 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 2.88 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $261.74 million during the quarter, compared to analysts' expectations of $242.14 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. During the same quarter in the previous year, the firm earned $0.05 EPS. On average, research analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

PAYO has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a report on Monday, February 3rd. They issued a "buy" rating and a $13.00 price objective for the company. Northland Securities raised their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Keefe, Bruyette & Woods reduced their price target on shares of Payoneer Global from $11.00 to $10.00 and set a "market perform" rating for the company in a research report on Friday, February 28th. Wolfe Research downgraded shares of Payoneer Global from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. Finally, Citigroup lifted their target price on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.07.

Payoneer Global Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.