Lord Abbett & CO. LLC Acquires New Stake in Payoneer Global Inc. (NASDAQ:PAYO)

Lord Abbett & CO. LLC purchased a new stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 805,312 shares of the company's stock, valued at approximately $6,064,000. Lord Abbett & CO. LLC owned approximately 0.23% of Payoneer Global as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Blue Trust Inc. raised its holdings in Payoneer Global by 135.2% during the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company's stock worth $33,000 after buying an additional 2,552 shares during the period. Quarry LP purchased a new position in Payoneer Global during the 2nd quarter worth approximately $29,000. GAMMA Investing LLC lifted its holdings in shares of Payoneer Global by 438.5% in the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company's stock valued at $44,000 after purchasing an additional 4,736 shares in the last quarter. FSC Wealth Advisors LLC acquired a new position in Payoneer Global during the third quarter valued at $68,000. Finally, Sage Rhino Capital LLC acquired a new stake in Payoneer Global during the 2nd quarter worth about $56,000. 82.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Keefe, Bruyette & Woods cut shares of Payoneer Global from an "outperform" rating to a "market perform" rating and set a $12.00 price target for the company. in a report on Monday, December 9th. 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 note on Friday, December 6th. Benchmark boosted their target price on Payoneer Global from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Needham & Company LLC lifted their price target on Payoneer Global from $10.00 to $14.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their target price on shares of Payoneer Global from $9.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Payoneer Global presently has a consensus rating of "Buy" and a consensus price target of $11.36.

Payoneer Global Stock Down 1.7 %

Payoneer Global stock traded down $0.18 during trading hours on Tuesday, hitting $10.27. The stock had a trading volume of 2,912,983 shares, compared to its average volume of 2,750,492. Payoneer Global Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $11.29. The company has a market cap of $3.66 billion, a PE ratio of 29.34 and a beta of 0.90. The company has a 50-day moving average of $9.72 and a two-hundred day moving average of $7.56.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.07. The company had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. As a group, analysts forecast that Payoneer Global Inc. will post 0.35 EPS for the current fiscal year.

Insider Activity

In other news, insider Tsafi Goldman sold 263,873 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $10.10, for a total value of $2,665,117.30. Following the transaction, the insider now owns 741,748 shares of the company's stock, valued at $7,491,654.80. This represents a 26.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Itai Perry sold 52,829 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.64, for a total value of $562,100.56. Following the completion of the transaction, the chief accounting officer now owns 201,882 shares in the company, valued at $2,148,024.48. This represents a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,826,275 shares of company stock worth $80,708,269. Insiders own 5.57% of the company's stock.

Payoneer Global Company 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.