Royce & Associates LP Increases Stock Holdings in Payoneer Global Inc. (NASDAQ:PAYO)

Royce & Associates LP raised its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 49.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 234,010 shares of the company's stock after acquiring an additional 77,232 shares during the period. Royce & Associates LP owned approximately 0.06% of Payoneer Global worth $1,762,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Natixis purchased a new stake in shares of Payoneer Global in the first quarter valued at approximately $3,106,000. Janus Henderson Group PLC boosted its stake in shares of Payoneer Global by 131.6% during the 1st quarter. Janus Henderson Group PLC now owns 358,940 shares of the company's stock worth $1,744,000 after acquiring an additional 203,943 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Payoneer Global in the 1st quarter worth approximately $986,000. Victory Capital Management Inc. increased its stake in Payoneer Global by 17.1% in the 2nd quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company's stock valued at $24,475,000 after purchasing an additional 645,887 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in Payoneer Global by 7.5% during the first quarter. ProShare Advisors LLC now owns 53,333 shares of the company's stock worth $259,000 after purchasing an additional 3,730 shares during the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Payoneer Global news, CAO Itai Perry sold 3,900 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total transaction of $31,200.00. Following the completion of the sale, the chief accounting officer now directly owns 228,738 shares in the company, valued at $1,829,904. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott H. Galit sold 150,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the completion of the sale, the director now directly owns 1,809,674 shares of the company's stock, valued at $12,794,395.18. The trade was a 7.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,658,000 shares of company stock valued at $78,524,500. 5.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PAYO. Northland Securities upped their target price on Payoneer Global from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Tuesday, September 10th. The Goldman Sachs Group raised their target price on shares of Payoneer Global from $9.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Cantor Fitzgerald raised shares of Payoneer Global to a "strong-buy" rating in a report on Monday, August 12th. Needham & Company LLC increased their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on Payoneer Global from $9.00 to $12.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Payoneer Global has a consensus rating of "Buy" and a consensus target price of $10.79.

Payoneer Global Stock Performance

NASDAQ PAYO traded down $0.10 during mid-day trading on Wednesday, reaching $10.73. 576,007 shares of the stock were exchanged, compared to its average volume of 2,738,509. The stock has a market capitalization of $3.83 billion, a PE ratio of 30.94 and a beta of 0.82. Payoneer Global Inc. has a 1-year low of $4.22 and a 1-year high of $10.90. The business's fifty day simple moving average is $8.48 and its 200 day simple moving average is $6.88.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. The business had revenue of $248.30 million for the quarter, compared to analysts' expectations of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company's quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. On average, analysts anticipate that Payoneer Global Inc. will post 0.32 EPS 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.