Hsbc Holdings PLC Takes Position in Payoneer Global Inc. $PAYO

Hsbc Holdings PLC purchased a new stake in Payoneer Global Inc. (NASDAQ:PAYO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 330,300 shares of the company’s stock, valued at approximately $2,340,000. Hsbc Holdings PLC owned about 0.10% of Payoneer Global as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in Payoneer Global by 2.4% during the 4th quarter. Van ECK Associates Corp now owns 84,678 shares of the company’s stock worth $476,000 after acquiring an additional 1,977 shares in the last quarter. Susquehanna International Group LLP increased its position in shares of Payoneer Global by 9.5% in the 3rd quarter. Susquehanna International Group LLP now owns 24,637 shares of the company’s stock valued at $149,000 after purchasing an additional 2,144 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Payoneer Global by 4.1% in the 4th quarter. ProShare Advisors LLC now owns 54,909 shares of the company’s stock valued at $309,000 after purchasing an additional 2,145 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Payoneer Global by 5.8% in the 4th quarter. LPL Financial LLC now owns 42,211 shares of the company’s stock valued at $237,000 after purchasing an additional 2,304 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Payoneer Global by 8.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 31,677 shares of the company’s stock valued at $178,000 after purchasing an additional 2,368 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PAYO has been the subject of several recent analyst reports. William Blair cut shares of Payoneer Global from an “outperform” rating to a “hold” rating in a research report on Monday, June 15th. Keefe, Bruyette & Woods cut Payoneer Global from a “moderate buy” rating to a “hold” rating in a research note on Monday, June 15th. Benchmark downgraded Payoneer Global from a “buy” rating to a “hold” rating in a report on Thursday, June 18th. Citigroup cut Payoneer Global from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $7.40 in a research report on Tuesday, June 16th. Finally, Northland Securities set a $7.40 target price on Payoneer Global in a research 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.40.

Insider Activity at Payoneer Global

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

Payoneer Global Stock Performance

Shares of Payoneer Global stock opened at $7.11 on Monday. The company has a fifty day simple moving average of $7.11 and a 200-day simple moving average of $5.84. The stock 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 12-month low of $4.08 and a 12-month high of $7.18.

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

About Payoneer Global

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.