Lord Abbett & CO. LLC Invests $6.06 Million in Payoneer Global Inc. (NASDAQ:PAYO)

Lord Abbett & CO. LLC purchased a new stake in Payoneer Global Inc. (NASDAQ:PAYO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 805,312 shares of the company’s stock, valued at approximately $6,064,000. Lord Abbett & CO. LLC owned approximately 0.23% of Payoneer Global as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. AXA S.A. grew its position in shares of Payoneer Global by 1,394.5% during the 2nd quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after purchasing an additional 13,227,884 shares in the last quarter. Azora Capital LP bought a new stake in shares of Payoneer Global in the third quarter valued at approximately $31,901,000. Legion Partners Asset Management LLC acquired a new stake in Payoneer Global during the second quarter worth approximately $12,360,000. American Century Companies Inc. increased its stake in Payoneer Global by 241.5% during the 2nd quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock worth $9,106,000 after acquiring an additional 1,162,481 shares during the period. Finally, Millennium Management LLC raised its holdings 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 acquiring an additional 995,366 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Needham & Company LLC increased their target price on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Benchmark boosted their target price 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 lowered shares of Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 price target on the stock. in a research report on Monday, December 9th. Finally, Northland Securities boosted their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $11.36.

Insider Activity at Payoneer Global

In other news, CAO Itai Perry sold 3,900 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total transaction of $31,200.00. Following the completion of the transaction, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 completion of the sale, the insider now directly owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. This represents a 17.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,826,275 shares of company stock valued at $80,708,269 in the last 90 days. 5.57% of the stock is owned by corporate insiders.

Payoneer Global Trading Up 1.7 %

PAYO opened at $10.45 on Tuesday. The company has a market cap of $3.73 billion, a P/E ratio of 29.86 and a beta of 0.90. The company’s 50 day moving average is $9.67 and its 200-day moving average is $7.53. Payoneer Global Inc. has a 1-year low of $4.22 and a 1-year high of $11.29.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $248.30 million for the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.05 earnings per share. On average, equities analysts forecast that Payoneer Global Inc. will post 0.35 EPS for the current year.

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.