Azora Capital LP Takes Position in Payoneer Global Inc. (NASDAQ:PAYO)

Azora Capital LP acquired a new stake in Payoneer Global Inc. (NASDAQ:PAYO) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,236,470 shares of the company’s stock, valued at approximately $31,901,000. Payoneer Global comprises 1.7% of Azora Capital LP’s holdings, making the stock its 21st biggest position. Azora Capital LP owned approximately 1.11% of Payoneer Global at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. AXA S.A. increased its stake in shares of Payoneer Global by 1,394.5% in the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock valued at $78,538,000 after buying an additional 13,227,884 shares during the period. Legion Partners Asset Management LLC acquired a new stake in Payoneer Global during the 2nd quarter valued at approximately $12,360,000. American Century Companies Inc. lifted its holdings in Payoneer Global by 241.5% during the second quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock valued at $9,106,000 after purchasing an additional 1,162,481 shares during the last quarter. Millennium Management LLC grew its stake in Payoneer Global by 17.3% in the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock valued at $37,473,000 after buying an additional 995,366 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Payoneer Global by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock valued at $25,446,000 after purchasing an additional 849,680 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Payoneer Global Trading Up 0.4 %

Shares of NASDAQ:PAYO opened at $10.91 on Monday. The stock has a fifty day simple moving average of $9.04 and a two-hundred day simple moving average of $7.16. Payoneer Global Inc. has a 12-month low of $4.22 and a 12-month high of $11.29. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 31.17 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. The firm had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. Payoneer Global’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. As a group, equities research analysts predict that Payoneer Global Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PAYO. Needham & Company LLC raised their target price on shares of Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Northland Securities increased their price objective on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Benchmark boosted their price objective on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods upped their target price on Payoneer Global from $9.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Payoneer Global presently has a consensus rating of “Buy” and a consensus target price of $10.79.

Insiders Place Their Bets

In other news, insider Crossover Managemen Technology sold 7,500,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the transaction, the insider now directly owns 34,197,116 shares of the company’s stock, valued at $352,914,237.12. This represents a 17.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Itai Perry sold 4,100 shares of Payoneer Global stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total value of $32,800.00. Following the completion of the sale, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at $1,829,904. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,562,402 shares of company stock valued at $78,043,152. Insiders own 5.57% of the company’s stock.

Payoneer Global Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.