Allianz Asset Management GmbH Sells 517,454 Shares of Payoneer Global Inc. $PAYO

Allianz Asset Management GmbH reduced its position in Payoneer Global Inc. (NASDAQ:PAYO) by 35.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 938,112 shares of the company’s stock after selling 517,454 shares during the period. Allianz Asset Management GmbH’s holdings in Payoneer Global were worth $6,426,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PAYO. Nuveen LLC bought a new position in shares of Payoneer Global in the 1st quarter worth $28,023,000. Vanguard Group Inc. lifted its holdings in shares of Payoneer Global by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company’s stock worth $247,675,000 after purchasing an additional 3,656,056 shares in the last quarter. Fiera Capital Corp bought a new position in shares of Payoneer Global in the 1st quarter worth $12,102,000. Victory Capital Management Inc. lifted its holdings in shares of Payoneer Global by 50.1% in the 1st quarter. Victory Capital Management Inc. now owns 4,395,656 shares of the company’s stock worth $32,132,000 after purchasing an additional 1,467,357 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Payoneer Global by 136.4% during the 1st quarter. Invesco Ltd. now owns 2,343,706 shares of the company’s stock valued at $17,132,000 after acquiring an additional 1,352,438 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYO has been the topic of several recent analyst reports. Wall Street Zen cut Payoneer Global from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research note on Thursday, July 17th. They set a “buy” rating and a $8.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Payoneer Global in a research note on Wednesday, October 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Payoneer Global in a research note on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Payoneer Global presently has an average rating of “Moderate Buy” and a consensus target price of $10.06.

Payoneer Global Stock Performance

Shares of PAYO opened at $6.00 on Thursday. The business has a 50-day moving average of $6.44 and a 200 day moving average of $6.64. Payoneer Global Inc. has a fifty-two week low of $5.66 and a fifty-two week high of $11.29. The firm has a market cap of $2.16 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 7.59 and a beta of 0.95.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%.The firm had revenue of $260.61 million during the quarter, compared to analysts’ expectations of $253.17 million. During the same period last year, the business posted $0.09 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. As a group, research analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

Payoneer Global 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.