Azora Capital LP Makes New Investment in Payoneer Global Inc. (NASDAQ:PAYO)

Azora Capital LP bought a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO) in the third quarter, HoldingsChannel reports. The firm bought 4,236,470 shares of the company’s stock, valued at approximately $31,901,000. Payoneer Global comprises about 1.7% of Azora Capital LP’s investment portfolio, making the stock its 21st largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in PAYO. Blue Trust Inc. increased its stake in Payoneer Global by 135.2% during the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock worth $33,000 after acquiring an additional 2,552 shares during the last quarter. Quarry LP bought a new position in shares of Payoneer Global during the second quarter valued at approximately $29,000. GAMMA Investing LLC increased its holdings in shares of Payoneer Global by 438.5% in the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after acquiring an additional 4,736 shares during the period. FSC Wealth Advisors LLC purchased a new position in Payoneer Global in the third quarter valued at about $68,000. Finally, Sage Rhino Capital LLC bought a new position in shares of Payoneer Global during the 2nd quarter worth approximately $56,000. Institutional investors own 82.22% of the company’s stock.

Insider Activity at Payoneer Global

In other Payoneer Global news, CAO Itai Perry sold 4,100 shares of the firm’s stock in a transaction on 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 approximately $1,829,904. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the business’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 sale, the insider now owns 34,197,116 shares in the company, valued at $352,914,237.12. The trade was a 17.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,562,402 shares of company stock worth $78,043,152 over the last three months. 5.57% of the stock is currently owned by corporate insiders.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $10.91 on Monday. The firm’s fifty day moving average is $9.04 and its two-hundred day moving average is $7.16. Payoneer Global Inc. has a one year low of $4.22 and a one year high of $11.29. The firm has a market cap of $3.89 billion, a PE ratio of 31.17 and a beta of 0.82.

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

Analyst Upgrades and Downgrades

PAYO has been the subject of a number of recent analyst reports. Benchmark lifted their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Needham & Company LLC increased their target price on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Citigroup increased their target price on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $10.79.

About Payoneer Global

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.