Insider Selling: Lesaka Technologies, Inc. (NASDAQ:LSAK) Director Sells 10,000 Shares of Stock

Lesaka Technologies, Inc. (NASDAQ:LSAK) Director Christopher G.B. Meyer sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $4.75, for a total transaction of $47,500.00. Following the sale, the director now owns 655,868 shares of the company’s stock, valued at $3,115,373. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Christopher G.B. Meyer also recently made the following trade(s):

• On Monday, June 24th, Christopher G.B. Meyer sold 10,000 shares of Lesaka Technologies stock. The stock was sold at an average price of $4.89, for a total transaction of $48,900.00.
• On Friday, June 21st, Christopher G.B. Meyer sold 71,479 shares of Lesaka Technologies stock. The shares were sold at an average price of $4.63, for a total value of $330,947.77.

Lesaka Technologies Price Performance

LSAK stock opened at $4.68 on Monday. The stock has a 50-day simple moving average of $4.66 and a 200-day simple moving average of $3.99. The firm has a market cap of $297.65 million, a P/E ratio of -12.32 and a beta of 0.98. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.41 and a current ratio of 1.60. Lesaka Technologies, Inc. has a 1 year low of $3.00 and a 1 year high of $5.33.

Lesaka Technologies (NASDAQ:LSAK) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $138.19 million for the quarter, compared to analysts’ expectations of $145.53 million. Lesaka Technologies had a negative net margin of 4.41% and a negative return on equity of 13.73%. On average, equities analysts predict that Lesaka Technologies, Inc. will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lesaka Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Potomac Capital Management Inc. lifted its stake in shares of Lesaka Technologies by 0.8% in the third quarter. Potomac Capital Management Inc. now owns 1,525,999 shares of the company’s stock worth $5,951,000 after acquiring an additional 12,076 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Lesaka Technologies by 3.7% in the 1st quarter. Russell Investments Group Ltd. now owns 87,046 shares of the company’s stock valued at $326,000 after purchasing an additional 3,137 shares in the last quarter. Finally, Hosking Partners LLP boosted its stake in shares of Lesaka Technologies by 3.8% during the 1st quarter. Hosking Partners LLP now owns 1,641,812 shares of the company’s stock valued at $6,157,000 after buying an additional 59,594 shares during the last quarter. 24.19% of the stock is owned by hedge funds and other institutional investors.

About Lesaka Technologies

Lesaka Technologies, Inc operates as a Fintech company that utilizes its proprietary banking and payment technologies to deliver financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. It offers cash management solutions, growth capital, card acquiring, bill payment technologies, and value-added services to formal and informal retail merchants, as well as banking, lending, and insurance solutions to consumers across Southern Africa.