Renaissance Technologies LLC Purchases 685,395 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Renaissance Technologies LLC increased its position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,126,300 shares of the company's stock after purchasing an additional 685,395 shares during the period. Renaissance Technologies LLC owned approximately 1.44% of Payoneer Global worth $51,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYO. Robeco Institutional Asset Management B.V. acquired a new position in shares of Payoneer Global during the fourth quarter worth approximately $1,233,000. Y Intercept Hong Kong Ltd bought a new stake in Payoneer Global during the 4th quarter worth approximately $1,276,000. FMR LLC grew its holdings in shares of Payoneer Global by 17.2% during the third quarter. FMR LLC now owns 1,129,312 shares of the company's stock worth $8,504,000 after purchasing an additional 165,913 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Payoneer Global during the 4th quarter valued at about $540,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Payoneer Global by 133.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 97,538 shares of the company's stock valued at $990,000 after buying an additional 55,766 shares during the period. 82.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PAYO shares. The Goldman Sachs Group decreased their price objective on Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Citigroup boosted their price objective on Payoneer Global from $14.50 to $16.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Wolfe Research lowered Payoneer Global from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a research report on Monday, February 3rd. They set a "buy" rating and a $13.00 target price on the stock. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Payoneer Global from $10.00 to $8.00 and set a "market perform" rating on the stock in a research note on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.36.

Insider Transactions at Payoneer Global

In other news, CFO Beatrice Ordonez sold 85,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total transaction of $884,000.00. Following the transaction, the chief financial officer now owns 2,305,245 shares of the company's stock, valued at $23,974,548. This represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.57% of the company's stock.

Payoneer Global Price Performance

NASDAQ PAYO remained flat at $6.43 during trading on Wednesday. The company's stock had a trading volume of 612,681 shares, compared to its average volume of 3,460,138. The company has a market cap of $2.31 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.88 and a beta of 1.02. Payoneer Global Inc. has a one year low of $4.79 and a one year high of $11.29. The business's 50 day simple moving average is $8.09 and its two-hundred day simple moving average is $9.21.

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

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.