Hotchkis & Wiley Capital Management LLC Buys New Holdings in Payoneer Global Inc. (NASDAQ:PAYO)

Hotchkis & Wiley Capital Management LLC bought a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 528,830 shares of the company's stock, valued at approximately $3,982,000. Hotchkis & Wiley Capital Management LLC owned 0.14% of Payoneer Global as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PAYO. SG Americas Securities LLC boosted its holdings in Payoneer Global by 993.8% in the second quarter. SG Americas Securities LLC now owns 169,184 shares of the company's stock valued at $937,000 after purchasing an additional 153,716 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Payoneer Global by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,971,622 shares of the company's stock valued at $10,923,000 after purchasing an additional 33,063 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Payoneer Global by 7.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,534 shares of the company's stock worth $385,000 after purchasing an additional 4,738 shares in the last quarter. Sage Rhino Capital LLC acquired a new stake in Payoneer Global in the second quarter valued at approximately $56,000. Finally, Van ECK Associates Corp raised its stake in shares of Payoneer Global by 4.3% during the 2nd quarter. Van ECK Associates Corp now owns 82,903 shares of the company's stock worth $459,000 after buying an additional 3,444 shares during the period. Institutional investors and hedge funds own 82.22% of the company's stock.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO traded up $0.16 during midday trading on Friday, reaching $10.95. 3,134,966 shares of the stock were exchanged, compared to its average volume of 2,752,817. The stock has a market capitalization of $3.90 billion, a P/E ratio of 30.83 and a beta of 0.90. The company has a 50 day simple moving average of $9.28 and a 200 day simple moving average of $7.29. Payoneer Global Inc. has a twelve month low of $4.22 and a twelve month high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.07. The company had revenue of $248.30 million for the quarter, compared to the consensus estimate of $225.44 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 business earned $0.05 earnings per share. The company's revenue for the quarter was up 19.4% on a year-over-year basis. On average, research analysts expect that Payoneer Global Inc. will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In other Payoneer Global news, insider Crossover Managemen Technology sold 7,500,000 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $10.32, for a total value of $77,400,000.00. Following the completion of the transaction, the insider now owns 34,197,116 shares in the company, valued at $352,914,237.12. The trade was a 17.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Itai Perry sold 52,829 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.64, for a total value of $562,100.56. Following the completion of the sale, the chief accounting officer now owns 201,882 shares in the company, valued at approximately $2,148,024.48. The trade was a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,562,402 shares of company stock worth $78,043,152 over the last ninety days. Corporate insiders own 5.57% of the company's stock.

Analysts Set New Price Targets

PAYO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Northland Securities upped their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Friday. The Goldman Sachs Group raised their target price on Payoneer Global from $9.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Cantor Fitzgerald raised Payoneer Global to a "strong-buy" rating in a research note on Monday, August 12th. Finally, Needham & Company LLC raised their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $11.36.

About Payoneer Global

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.