Corebridge Financial Inc. Sells 8,081 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Corebridge Financial Inc. cut its holdings in Payoneer Global Inc. (NASDAQ:PAYO) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 153,309 shares of the company’s stock after selling 8,081 shares during the quarter. Corebridge Financial Inc.’s holdings in Payoneer Global were worth $1,539,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PAYO. LPL Financial LLC increased its position in Payoneer Global by 14.4% in the 4th quarter. LPL Financial LLC now owns 33,520 shares of the company’s stock valued at $337,000 after acquiring an additional 4,230 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Payoneer Global during the fourth quarter valued at approximately $648,000. American Century Companies Inc. increased its holdings in shares of Payoneer Global by 24.8% in the fourth quarter. American Century Companies Inc. now owns 8,166,652 shares of the company’s stock valued at $81,993,000 after purchasing an additional 1,624,948 shares in the last quarter. Quantbot Technologies LP bought a new position in Payoneer Global in the 4th quarter worth approximately $331,000. Finally, Teacher Retirement System of Texas lifted its holdings in Payoneer Global by 2,279.5% during the 4th quarter. Teacher Retirement System of Texas now owns 289,963 shares of the company’s stock worth $2,911,000 after buying an additional 277,777 shares in the last quarter. 82.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of Payoneer Global stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total value of $884,000.00. Following the transaction, the chief financial officer now owns 2,305,245 shares of the company’s stock, valued at approximately $23,974,548. The trade was a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.57% of the company’s stock.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO opened at $7.55 on Thursday. Payoneer Global Inc. has a 52-week low of $4.69 and a 52-week high of $11.29. The stock has a market cap of $2.72 billion, a P/E ratio of 21.57, a P/E/G ratio of 2.88 and a beta of 0.97. The firm has a 50 day moving average price of $9.03 and a 200 day moving average price of $9.31.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $261.74 million during the quarter, compared to analyst estimates of $242.14 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. During the same period last year, the firm earned $0.05 EPS. Analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PAYO. The Goldman Sachs Group lowered their target price on Payoneer Global from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday. Wolfe Research cut Payoneer Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Northland Securities upped their target price 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. Citigroup lifted their price target on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a report on Monday, February 3rd. They issued a “buy” rating and a $13.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Payoneer Global currently has a consensus rating of “Moderate Buy” and an average price target of $12.36.

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.