The Manufacturers Life Insurance Company Invests $956,000 in Payoneer Global Inc. $PAYO

by · The Markets Daily

The Manufacturers Life Insurance Company acquired a new position in Payoneer Global Inc. (NASDAQ:PAYO – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 134,274 shares of the company’s stock, valued at approximately $956,000.

Several other large investors also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in Payoneer Global by 299.7% in the 1st quarter. Royal Bank of Canada now owns 158,997 shares of the company’s stock worth $1,162,000 after acquiring an additional 119,219 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Payoneer Global by 8.8% during the 1st quarter. AQR Capital Management LLC now owns 291,908 shares of the company’s stock valued at $2,134,000 after acquiring an additional 23,533 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Payoneer Global during the first quarter worth about $172,000. United Services Automobile Association purchased a new position 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 increased its position in shares of Payoneer Global by 5.9% in 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 purchasing an additional 41,970 shares during the last quarter. Institutional investors own 82.22% of the company’s stock.

Insider Activity at Payoneer Global

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

Wall Street Analyst Weigh In

PAYO has been the subject of several research analyst reports. William Blair lowered shares of Payoneer Global from an “outperform” rating to a “hold” rating in a research report on Monday, June 15th. Benchmark lowered shares of Payoneer Global from a “buy” rating to a “hold” rating in a report on Thursday, June 18th. Northland Securities set a $7.40 price objective on shares of Payoneer Global 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 report on Friday, August 7th. Finally, Keefe, Bruyette & Woods lowered shares of Payoneer Global from a “moderate buy” rating to a “hold” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.40.

Read Our Latest Stock Analysis on Payoneer Global

Payoneer Global Price Performance

NASDAQ:PAYO opened at $7.17 on Friday. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 51.22, a PEG ratio of 1.50 and a beta of 0.94. The business has a 50 day moving average of $7.12 and a 200 day moving average of $5.89. Payoneer Global Inc. has a 1-year low of $4.08 and a 1-year high of $7.18.

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

Payoneer Global Profile

(Free Report)

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.

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