Paysign, Inc. (NASDAQ:PAYS) CEO Mark Newcomer Sells 100,000 Shares

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) CEO Mark Newcomer sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $2.73, for a total transaction of $273,000.00. Following the transaction, the chief executive officer now directly owns 8,936,886 shares of the company's stock, valued at $24,397,698.78. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Mark Newcomer also recently made the following trade(s):

• On Thursday, January 23rd, Mark Newcomer sold 12,000 shares of Paysign stock. The shares were sold at an average price of $2.85, for a total value of $34,200.00.
• On Tuesday, January 21st, Mark Newcomer sold 61,000 shares of Paysign stock. The shares were sold at an average price of $2.89, for a total transaction of $176,290.00.
• On Monday, December 9th, Mark Newcomer sold 41,000 shares of Paysign stock. The shares were sold at an average price of $3.31, for a total value of $135,710.00.

Paysign Stock Performance

Shares of NASDAQ PAYS traded up $0.03 during trading on Friday, reaching $2.65. The stock had a trading volume of 226,367 shares, compared to its average volume of 290,281. The business's 50-day moving average price is $2.87 and its 200-day moving average price is $3.53. Paysign, Inc. has a fifty-two week low of $2.46 and a fifty-two week high of $5.59. The company has a market cap of $141.90 million, a P/E ratio of 17.67 and a beta of 0.93.

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Wall Street Analysts Forecast Growth

Several brokerages recently commented on PAYS. Barrington Research reissued an "outperform" rating and issued a $7.00 price target on shares of Paysign in a report on Monday, November 4th. Lake Street Capital initiated coverage on shares of Paysign in a research report on Friday, December 20th. They set a "buy" rating and a $6.00 price target for the company.

Hedge Funds Weigh In On Paysign

Several institutional investors have recently bought and sold shares of PAYS. SG Americas Securities LLC purchased a new position in shares of Paysign in the third quarter valued at approximately $43,000. PDT Partners LLC acquired a new stake in Paysign during the 4th quarter worth approximately $39,000. Wells Fargo & Company MN boosted its position in Paysign by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 15,385 shares of the company's stock valued at $46,000 after buying an additional 5,243 shares during the period. Virtu Financial LLC acquired a new position in shares of Paysign in the fourth quarter worth $78,000. Finally, Bard Associates Inc. purchased a new stake in shares of Paysign during the third quarter worth $103,000. 25.89% of the stock is owned by institutional investors and hedge funds.

About Paysign

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.