Nordea Investment Management AB Lowers Stock Position in Payoneer Global Inc. $PAYO

Nordea Investment Management AB decreased its holdings in Payoneer Global Inc. (NASDAQ:PAYO) by 12.6% in the 4th quarter, Holdings Channel reports. The firm owned 795,552 shares of the company’s stock after selling 114,278 shares during the period. Nordea Investment Management AB’s holdings in Payoneer Global were worth $4,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Royal Bank of Canada grew its position in Payoneer Global by 299.7% during the 1st quarter. Royal Bank of Canada now owns 158,997 shares of the company’s stock worth $1,162,000 after purchasing an additional 119,219 shares during the last quarter. AQR Capital Management LLC increased its stake in Payoneer Global by 8.8% in the first quarter. AQR Capital Management LLC now owns 291,908 shares of the company’s stock valued at $2,134,000 after purchasing an additional 23,533 shares during the period. Caxton Associates LLP purchased a new stake in shares of Payoneer Global in the first quarter valued at about $172,000. United Services Automobile Association acquired a new stake in shares of Payoneer Global during the first quarter worth about $126,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Payoneer Global by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 757,827 shares of the company’s stock worth $5,540,000 after buying an additional 41,970 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Trading Up 2.0%

PAYO stock opened at $4.99 on Friday. The company’s 50-day moving average price is $5.28 and its 200 day moving average price is $5.67. Payoneer Global Inc. has a 52 week low of $4.08 and a 52 week high of $7.66. The company has a market cap of $1.72 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.60 and a beta of 1.09.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $274.69 million for the quarter, compared to analyst estimates of $282.79 million. Payoneer Global had a net margin of 6.95% and a return on equity of 10.89%. Payoneer Global’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 earnings per share. On average, equities research analysts expect that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PAYO. Keefe, Bruyette & Woods dropped their price target on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Payoneer Global in a research report on Thursday, January 22nd. Bank of America assumed coverage on Payoneer Global in a report on Wednesday. They issued a “buy” rating and a $6.00 target price on the stock. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Needham & Company LLC lowered their price objective on shares of Payoneer Global from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

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.