Weiss Asset Management LP Makes New $2.34 Million Investment in Payoneer Global Inc. (NASDAQ:PAYO)

Weiss Asset Management LP bought a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 310,599 shares of the company's stock, valued at approximately $2,339,000. Weiss Asset Management LP owned approximately 0.08% of Payoneer Global at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Payoneer Global during the 2nd quarter worth about $29,000. Blue Trust Inc. lifted its stake in Payoneer Global by 135.2% during the third quarter. Blue Trust Inc. now owns 4,440 shares of the company's stock worth $33,000 after purchasing an additional 2,552 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Payoneer Global by 438.5% in the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company's stock valued at $44,000 after purchasing an additional 4,736 shares in the last quarter. Sage Rhino Capital LLC purchased a new position in Payoneer Global in the second quarter valued at approximately $56,000. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of Payoneer Global during the 3rd quarter worth approximately $68,000. Hedge funds and other institutional investors own 82.22% of the company's stock.

Insiders Place Their Bets

In other news, CAO Itai Perry sold 3,900 shares of the company's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total value of $31,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 228,738 shares in the company, valued at approximately $1,829,904. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Crossover Managemen Technology sold 7,500,000 shares of Payoneer Global stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the sale, the insider now directly owns 34,197,116 shares in the company, valued at $352,914,237.12. This trade represents a 17.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,562,402 shares of company stock worth $78,043,152 over the last ninety days. 5.57% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Northland Securities increased their target price on shares of Payoneer Global from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Friday. Keefe, Bruyette & Woods lifted their target price on Payoneer Global from $9.00 to $12.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Citigroup upped their target price on Payoneer Global from $7.00 to $8.50 and gave the company a "buy" rating in a research report on Monday, August 12th. Benchmark lifted their price target on Payoneer Global from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald raised Payoneer Global to a "strong-buy" rating in a report on Monday, August 12th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $11.36.

Payoneer Global Stock Performance

Payoneer Global stock traded up $0.16 during mid-day trading on Friday, reaching $10.95. 3,134,966 shares of the company were exchanged, compared to its average volume of 3,387,462. Payoneer Global Inc. has a twelve month low of $4.22 and a twelve month high of $11.29. The firm has a market cap of $3.90 billion, a PE ratio of 31.29 and a beta of 0.90. The firm's 50-day simple moving average is $9.35 and its two-hundred day simple moving average is $7.34.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping 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 company had revenue of $248.30 million for the quarter, compared to the consensus estimate of $225.44 million. During the same period last year, the business posted $0.05 EPS. The company's quarterly revenue was up 19.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Payoneer Global Inc. will post 0.32 EPS for the current 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.