Royce & Associates LP Reduces Stock Position in Paysign, Inc. (NASDAQ:PAYS)

Royce & Associates LP cut its stake in Paysign, Inc. (NASDAQ:PAYS) by 93.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,153 shares of the company’s stock after selling 207,558 shares during the period. Royce & Associates LP’s holdings in Paysign were worth $43,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of Paysign by 33.5% during the 4th quarter. SG Americas Securities LLC now owns 15,508 shares of the company’s stock worth $47,000 after purchasing an additional 3,895 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Paysign by 4.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 121,089 shares of the company’s stock worth $419,000 after purchasing an additional 5,000 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Paysign by 13.7% during the 4th quarter. Rhumbline Advisers now owns 44,284 shares of the company’s stock worth $134,000 after purchasing an additional 5,339 shares in the last quarter. Bard Associates Inc. increased its stake in shares of Paysign by 19.7% during the 4th quarter. Bard Associates Inc. now owns 33,450 shares of the company’s stock worth $101,000 after purchasing an additional 5,497 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Paysign by 31.3% during the 4th quarter. Bank of New York Mellon Corp now owns 94,515 shares of the company’s stock worth $285,000 after purchasing an additional 22,548 shares in the last quarter. 25.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Lake Street Capital assumed coverage on shares of Paysign in a research note on Friday, December 20th. They set a “buy” rating and a $6.00 price objective for the company.

Insider Buying and Selling

In other Paysign news, CEO Mark Newcomer sold 100,000 shares of Paysign stock in a transaction on Monday, February 24th. The shares were sold at an average price of $2.73, for a total value of $273,000.00. Following the transaction, the chief executive officer now owns 8,936,886 shares in the company, valued at $24,397,698.78. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Topline Capital Management, Ll sold 231,187 shares of Paysign stock in a transaction on Friday, December 27th. The shares were sold at an average price of $3.31, for a total transaction of $765,228.97. Following the completion of the transaction, the insider now owns 5,859,046 shares in the company, valued at approximately $19,393,442.26. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 927,087 shares of company stock worth $2,872,039. 23.40% of the stock is owned by insiders.

Paysign Stock Performance

Shares of NASDAQ PAYS opened at $2.34 on Friday. Paysign, Inc. has a 1 year low of $2.25 and a 1 year high of $5.59. The firm’s 50 day moving average price is $2.69 and its 200 day moving average price is $3.29. The firm has a market cap of $125.30 million, a P/E ratio of 15.60 and a beta of 0.93.

About Paysign

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.