Man Group plc Buys Shares of 350,000 Payoneer Global Inc. $PAYO

Man Group plc bought a new stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) during the second quarter, HoldingsChannel.com reports. The fund bought 350,000 shares of the company’s stock, valued at approximately $2,492,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in Payoneer Global during the 2nd quarter valued at $278,076,000. State Street Corp increased its stake in Payoneer Global by 1.8% in the fourth quarter. State Street Corp now owns 10,772,088 shares of the company’s stock worth $60,539,000 after purchasing an additional 195,410 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Payoneer Global by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,436,470 shares of the company’s stock worth $58,654,000 after purchasing an additional 182,614 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Payoneer Global by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 7,544,420 shares of the company’s stock worth $36,438,000 after purchasing an additional 263,030 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Payoneer Global by 137.3% during the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock worth $38,104,000 after purchasing an additional 3,218,917 shares during the last quarter. 82.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Beatrice Ordonez sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer owned 2,887,266 shares of the company’s stock, valued at $20,239,734.66. This trade represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PAYO shares. Citigroup cut shares of Payoneer Global from a “buy” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $7.40 in a report on Tuesday, June 16th. William Blair cut shares of Payoneer Global from an “outperform” rating to a “hold” rating in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Needham & Company LLC downgraded shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Keefe, Bruyette & Woods lowered Payoneer Global from a “moderate buy” rating to a “hold” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Payoneer Global presently has a consensus rating of “Hold” and a consensus price target of $7.40.

Payoneer Global Price Performance

Shares of PAYO stock opened at $7.11 on Tuesday. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 50.79, a PEG ratio of 1.49 and a beta of 0.96. Payoneer Global Inc. has a 52-week low of $4.08 and a 52-week high of $7.18. The company’s 50 day moving average is $7.11 and its 200 day moving average is $5.85.

Payoneer Global (NASDAQ:PAYO) last posted its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). The company had revenue of $274.26 million for the quarter, compared to analysts’ expectations of $270.98 million. Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. Analysts anticipate that Payoneer Global Inc. will post 0.2 EPS for the current fiscal year.

Payoneer Global Profile

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.