IQ EQ FUND MANAGEMENT IRELAND Ltd Reduces Position in Payoneer Global Inc. (NASDAQ:PAYO)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 49.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,434 shares of the company’s stock after selling 21,042 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Payoneer Global were worth $119,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. increased its stake in Payoneer Global by 27.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after purchasing an additional 2,074 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Payoneer Global by 1.8% in the fourth quarter. Yousif Capital Management LLC now owns 129,060 shares of the company’s stock valued at $672,000 after purchasing an additional 2,320 shares during the period. Texas Permanent School Fund Corp lifted its position in Payoneer Global by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 227,988 shares of the company’s stock valued at $1,108,000 after buying an additional 2,958 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Payoneer Global by 1.9% during the first quarter. Illinois Municipal Retirement Fund now owns 160,551 shares of the company’s stock worth $780,000 after buying an additional 3,028 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Payoneer Global by 7.5% in the first quarter. ProShare Advisors LLC now owns 53,333 shares of the company’s stock valued at $259,000 after purchasing an additional 3,730 shares during the period. 82.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAYO has been the subject of several recent research reports. Benchmark reaffirmed a “buy” rating and set a $9.00 price target on shares of Payoneer Global in a report on Thursday, August 8th. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. The Goldman Sachs Group raised their price target on Payoneer Global from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC lifted their target price on Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods lifted their target price on Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $8.25.

Payoneer Global Price Performance

Shares of NASDAQ PAYO traded up $0.17 during midday trading on Friday, hitting $7.56. 1,970,483 shares of the company’s stock were exchanged, compared to its average volume of 2,689,620. The business’s fifty day moving average price is $5.98 and its two-hundred day moving average price is $5.48. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.02. Payoneer Global Inc. has a 12-month low of $4.22 and a 12-month high of $7.57. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 24.63 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. The business had revenue of $239.50 million during the quarter, compared to analyst estimates of $223.12 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. Payoneer Global’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts forecast that Payoneer Global Inc. will post 0.23 EPS for the current fiscal year.

Insider Transactions at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 446,104 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.50, for a total value of $2,453,572.00. Following the sale, the director now owns 2,122,421 shares in the company, valued at approximately $11,673,315.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Scott H. Galit sold 400,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $5.34, for a total value of $2,137,602.00. Following the transaction, the director now owns 2,122,421 shares of the company’s stock, valued at $11,333,728.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott H. Galit sold 446,104 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $5.50, for a total transaction of $2,453,572.00. Following the completion of the transaction, the director now directly owns 2,122,421 shares of the company’s stock, valued at $11,673,315.50. The disclosure for this sale can be found here. Insiders sold 1,904,155 shares of company stock valued at $10,598,009 in the last quarter. 5.57% of the stock is currently owned by corporate insiders.

Payoneer Global Company 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.