Walleye Capital LLC Cuts Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

Walleye Capital LLC trimmed its position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 61.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,219 shares of the company's stock after selling 247,271 shares during the quarter. Walleye Capital LLC's holdings in Payoneer Global were worth $1,176,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Payoneer Global by 993.8% during the 2nd quarter. SG Americas Securities LLC now owns 169,184 shares of the company's stock worth $937,000 after buying an additional 153,716 shares during the period. Bank of New York Mellon Corp boosted its holdings in Payoneer Global by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 1,971,622 shares of the company's stock valued at $10,923,000 after acquiring an additional 33,063 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Payoneer Global by 7.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,534 shares of the company's stock valued at $385,000 after purchasing an additional 4,738 shares during the period. Sage Rhino Capital LLC bought a new position in Payoneer Global during the 2nd quarter worth approximately $56,000. Finally, Van ECK Associates Corp lifted its position in shares of Payoneer Global by 4.3% in the 2nd quarter. Van ECK Associates Corp now owns 82,903 shares of the company's stock worth $459,000 after purchasing an additional 3,444 shares during the period. 82.22% of the stock is currently owned by institutional investors.

Payoneer Global Trading Up 1.5 %

Payoneer Global stock traded up $0.16 during midday trading on Friday, reaching $10.95. The stock had a trading volume of 3,134,966 shares, compared to its average volume of 2,752,817. The company has a fifty day moving average price of $9.28 and a two-hundred day moving average price of $7.29. Payoneer Global Inc. has a 12 month low of $4.22 and a 12 month high of $11.29. The company has a market capitalization of $3.90 billion, a P/E ratio of 30.83 and a beta of 0.90.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.07. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The firm had revenue of $248.30 million during the quarter, compared to analysts' expectations of $225.44 million. During the same quarter last year, the firm posted $0.05 earnings per share. The company's revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities research analysts predict that Payoneer Global Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Payoneer Global

In other news, CAO Itai Perry sold 52,829 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 201,882 shares of the company's stock, valued at $2,148,024.48. This represents a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Crossover Managemen Technology sold 7,500,000 shares of Payoneer Global stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.32, for a total value of $77,400,000.00. Following the transaction, the insider now directly owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. The trade was a 17.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,562,402 shares of company stock worth $78,043,152. 5.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PAYO shares. Northland Securities increased their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Friday. Needham & Company LLC increased their price target on Payoneer Global from $10.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their price objective on Payoneer Global from $9.00 to $12.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Benchmark upped their target price on Payoneer Global from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Finally, Citigroup lifted their target price on Payoneer Global from $7.00 to $8.50 and gave the stock a "buy" rating in a report on Monday, August 12th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $11.36.

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.