Entropy Technologies LP Acquires 45,926 Shares of Pagaya Technologies Ltd. $PGY

Entropy Technologies LP grew its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY) by 182.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,065 shares of the company’s stock after acquiring an additional 45,926 shares during the quarter. Entropy Technologies LP owned 0.09% of Pagaya Technologies worth $828,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Main Management ETF Advisors LLC grew its holdings in shares of Pagaya Technologies by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 72,036 shares of the company’s stock valued at $1,506,000 after purchasing an additional 736 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Pagaya Technologies by 5.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 16,493 shares of the company’s stock valued at $345,000 after acquiring an additional 790 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Pagaya Technologies by 3.2% during the 4th quarter. MetLife Investment Management LLC now owns 27,845 shares of the company’s stock valued at $582,000 after acquiring an additional 867 shares during the period. Franklin Resources Inc. boosted its holdings in Pagaya Technologies by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 22,766 shares of the company’s stock valued at $676,000 after acquiring an additional 1,043 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its holdings in Pagaya Technologies by 351.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after acquiring an additional 1,084 shares during the period. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Insider Transactions at Pagaya Technologies

In other news, CEO Gal Krubiner acquired 16,230 shares of the stock in a transaction on Wednesday, June 24th. The stock was acquired at an average price of $15.43 per share, with a total value of $250,428.90. Following the completion of the transaction, the chief executive officer owned 555,906 shares of the company’s stock, valued at $8,577,629.58. This represents a 3.01% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Tami Rosen sold 9,944 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $15.20, for a total transaction of $151,148.80. Following the sale, the director owned 37,544 shares in the company, valued at approximately $570,668.80. This trade represents a 20.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 58,090 shares of company stock worth $923,764. 41.99% of the stock is owned by insiders.

Pagaya Technologies Price Performance

PGY stock opened at $16.61 on Wednesday. Pagaya Technologies Ltd. has a 1 year low of $10.40 and a 1 year high of $44.99. The company has a market cap of $1.38 billion, a P/E ratio of 15.52 and a beta of 5.32. The firm has a 50-day moving average of $15.96 and a 200 day moving average of $15.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 12.09 and a quick ratio of 12.09.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) EPS for the quarter. The company had revenue of $91.63 million during the quarter. Pagaya Technologies had a return on equity of 44.75% and a net margin of 7.39%. On average, sell-side analysts forecast that Pagaya Technologies Ltd. will post 2.92 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on PGY shares. Weiss Ratings raised Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Pagaya Technologies in a research note on Monday, May 18th. Texas Capital upgraded Pagaya Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Zacks Research cut Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $35.86.

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.