Payoneer Global Inc. (NASDAQ:PAYO) Sees Significant Decrease in Short Interest

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 11,290,000 shares, a decrease of 13.4% from the February 13th total of 13,030,000 shares. Based on an average daily volume of 3,120,000 shares, the days-to-cover ratio is currently 3.6 days. Currently, 4.2% of the company's shares are sold short.

Insider Buying and Selling

In other news, CFO Beatrice Ordonez sold 85,000 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total transaction of $884,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,305,245 shares in the company, valued at $23,974,548. This trade represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tsafi Goldman sold 96,350 shares of Payoneer Global 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 of the company's stock, valued at approximately $7,469,402.36. This trade represents 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.

Remove Ads

Hedge Funds Weigh In On Payoneer Global

Institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of Payoneer Global during the 3rd quarter worth approximately $210,000. Royce & Associates LP raised its position in shares of Payoneer Global by 49.3% during the third quarter. Royce & Associates LP now owns 234,010 shares of the company's stock worth $1,762,000 after purchasing an additional 77,232 shares during the period. Quest Partners LLC bought a new position in Payoneer Global in the third quarter valued at approximately $415,000. Intech Investment Management LLC bought a new stake in Payoneer Global in the 3rd quarter valued at $458,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Payoneer Global by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,337,156 shares of the company's stock worth $17,599,000 after buying an additional 67,255 shares during the period. 82.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PAYO. Deutsche Bank Aktiengesellschaft assumed 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 increased their target price on Payoneer Global from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Keefe, Bruyette & Woods cut their price objective on Payoneer Global from $11.00 to $10.00 and set a "market perform" rating for the company in a report on Friday, February 28th. Citigroup upped their price objective on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Wolfe Research downgraded shares of Payoneer Global from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.07.

Payoneer Global Price Performance

Shares of Payoneer Global stock traded down $0.10 during midday trading on Friday, hitting $7.46. 7,470,918 shares of the company were exchanged, compared to its average volume of 2,752,624. Payoneer Global has a 52 week low of $4.60 and a 52 week high of $11.29. The firm has a 50 day simple moving average of $9.49 and a 200-day simple moving average of $9.31. The firm has a market cap of $2.68 billion, a P/E ratio of 21.31, a PEG ratio of 2.88 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its 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). Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business had revenue of $261.74 million during the quarter, compared to analyst estimates of $242.14 million. During the same period in the previous year, the firm earned $0.05 earnings per share. Equities research analysts expect that Payoneer Global will post 0.34 earnings per share for the current year.

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.