Potomac Capital Management Inc. Invests $4.77 Million in Lesaka Technologies, Inc. $LSAK

Potomac Capital Management Inc. bought a new position in Lesaka Technologies, Inc. (NASDAQ:LSAK) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 999,116 shares of the company’s stock, valued at approximately $4,766,000. Lesaka Technologies accounts for 3.8% of Potomac Capital Management Inc.’s investment portfolio, making the stock its 4th biggest position. Potomac Capital Management Inc. owned about 1.19% of Lesaka Technologies at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Rathbones Group PLC boosted its holdings in shares of Lesaka Technologies by 6.6% in the 4th quarter. Rathbones Group PLC now owns 3,644,420 shares of the company’s stock worth $17,384,000 after purchasing an additional 225,000 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Lesaka Technologies by 26.4% in the 3rd quarter. Citadel Advisors LLC now owns 18,977 shares of the company’s stock worth $79,000 after purchasing an additional 3,959 shares during the period. Finally, Susquehanna International Group LLP purchased a new position in shares of Lesaka Technologies in the 3rd quarter worth approximately $74,000. Hedge funds and other institutional investors own 24.19% of the company’s stock.

Lesaka Technologies Price Performance

Shares of LSAK stock opened at $4.90 on Wednesday. Lesaka Technologies, Inc. has a 52-week low of $3.62 and a 52-week high of $5.54. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.44 and a current ratio of 1.54. The firm has a market capitalization of $420.13 million, a P/E ratio of -14.00 and a beta of 0.31. The stock has a 50 day moving average price of $4.93 and a 200 day moving average price of $4.67.

Lesaka Technologies (NASDAQ:LSAK) last issued its quarterly earnings results on Friday, March 27th. The company reported $0.03 earnings per share (EPS) for the quarter. Lesaka Technologies had a negative return on equity of 15.95% and a negative net margin of 4.11%.The firm had revenue of $96.37 million during the quarter. As a group, sell-side analysts predict that Lesaka Technologies, Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on LSAK. Wall Street Zen upgraded Lesaka Technologies from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Lesaka Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lesaka Technologies currently has an average rating of “Reduce”.

Insider Activity

In related news, major shareholder Finance Corp International sold 66,437 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $4.90, for a total transaction of $325,541.30. Following the completion of the sale, the insider directly owned 5,244,859 shares of the company’s stock, valued at approximately $25,699,809.10. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 721,897 shares of company stock worth $3,597,157. 3.40% of the stock is currently owned by company insiders.

Lesaka Technologies Profile

Lesaka Technologies, Inc operates as a Fintech company that utilizes its proprietary banking and payment technologies to deliver financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. It offers cash management solutions, growth capital, card acquiring, bill payment technologies, and value-added services to formal and informal retail merchants, as well as banking, lending, and insurance solutions to consumers across Southern Africa. The company also engages in the sale of POS devices, SIM cards, and other consumables; and license of rights to use certain technology developed by the company, as well as offers related technology services.