Insider Selling: Paysign, Inc. (NASDAQ:PAYS) CEO Sells $232,500.00 in Stock

Paysign, Inc. (NASDAQ:PAYS) CEO Mark Newcomer sold 46,500 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $5.00, for a total transaction of $232,500.00. Following the sale, the chief executive officer now directly owns 8,702,386 shares of the company’s stock, valued at approximately $43,511,930. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, June 5th, Mark Newcomer sold 19,693 shares of Paysign stock. The stock was sold at an average price of $4.51, for a total value of $88,815.43.
• On Monday, June 2nd, Mark Newcomer sold 307 shares of Paysign stock. The stock was sold at an average price of $4.50, for a total transaction of $1,381.50.
• On Thursday, May 29th, Mark Newcomer sold 168,000 shares of Paysign stock. The shares were sold at an average price of $4.51, for a total transaction of $757,680.00.

Paysign Trading Down 2.8%

PAYS opened at $4.85 on Thursday. The business’s 50-day moving average price is $3.05 and its 200-day moving average price is $2.89. The company has a market cap of $262.96 million, a P/E ratio of 32.33 and a beta of 0.60. Paysign, Inc. has a 12 month low of $1.80 and a 12 month high of $5.59.

Paysign (NASDAQ:PAYS) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. Paysign had a net margin of 14.28% and a return on equity of 30.64%. The firm had revenue of $18.60 million during the quarter, compared to the consensus estimate of $17.49 million. Equities research analysts forecast that Paysign, Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Paysign by 51.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 267,899 shares of the company’s stock valued at $809,000 after purchasing an additional 90,702 shares during the period. Millennium Management LLC boosted its stake in Paysign by 123.6% in the 4th quarter. Millennium Management LLC now owns 325,334 shares of the company’s stock worth $983,000 after purchasing an additional 179,814 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Paysign by 98.8% during the fourth quarter. Two Sigma Investments LP now owns 181,775 shares of the company’s stock valued at $549,000 after buying an additional 90,346 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Paysign by 11.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company’s stock valued at $4,535,000 after purchasing an additional 149,200 shares during the last quarter. Finally, 1248 Management LLC bought a new stake in Paysign in the 4th quarter worth about $2,778,000. 25.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on PAYS shares. Barrington Research reissued an “outperform” rating and issued a $7.00 target price on shares of Paysign in a research report on Wednesday, March 26th. Lake Street Capital increased their target price on shares of Paysign from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. LADENBURG THALM/SH SH lifted their price target on Paysign from $7.25 to $8.25 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, DA Davidson upped their target price on shares of Paysign from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th.

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.