New York State Common Retirement Fund Grows Stock Position in Pagaya Technologies Ltd. $PGY

New York State Common Retirement Fund raised its holdings in Pagaya Technologies Ltd. (NASDAQ:PGY) by 315.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 58,941 shares of the company’s stock after acquiring an additional 44,741 shares during the period. New York State Common Retirement Fund’s holdings in Pagaya Technologies were worth $1,750,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Federated Hermes Inc. boosted its position in shares of Pagaya Technologies by 40.8% in the third quarter. Federated Hermes Inc. now owns 600,140 shares of the company’s stock worth $17,818,000 after acquiring an additional 174,033 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in shares of Pagaya Technologies in the 3rd quarter valued at $2,494,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Pagaya Technologies during the 3rd quarter valued at $98,000. Strs Ohio acquired a new stake in shares of Pagaya Technologies during the 3rd quarter worth $1,457,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Pagaya Technologies in the 3rd quarter worth $925,000. 57.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, insider Tami Rosen sold 7,561 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $30.73, for a total value of $232,349.53. Following the transaction, the insider owned 37,544 shares of the company’s stock, valued at $1,153,727.12. This trade represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Sanjiv Das sold 3,945 shares of Pagaya Technologies stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $90,695.55. Following the completion of the transaction, the president owned 129,986 shares of the company’s stock, valued at approximately $2,988,378.14. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 21,256 shares of company stock worth $547,198. 47.59% of the stock is currently owned by insiders.

Analyst Ratings Changes

PGY has been the subject of a number of research reports. Canaccord Genuity Group boosted their price target on Pagaya Technologies from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Zacks Research lowered Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Freedom Capital upgraded shares of Pagaya Technologies to a “strong-buy” rating in a report on Tuesday, February 3rd. Wall Street Zen downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Pagaya Technologies in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.25.

Pagaya Technologies Trading Up 12.0%

NASDAQ PGY opened at $18.64 on Monday. Pagaya Technologies Ltd. has a 52 week low of $8.50 and a 52 week high of $44.99. The stock has a market cap of $1.50 billion, a P/E ratio of -6.98 and a beta of 5.85. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 1.16. The company’s fifty day simple moving average is $22.36 and its 200-day simple moving average is $27.88.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Monday, February 9th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. The business had revenue of $334.81 million for the quarter, compared to analyst estimates of $348.75 million. Pagaya Technologies had a negative net margin of 15.32% and a positive return on equity of 31.59%. Equities research analysts predict that Pagaya Technologies Ltd. will post 0.88 EPS for the current fiscal year.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.