Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 302,500 Payoneer Global Inc. (NASDAQ:PAYO)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 302,500 shares of the company’s stock, valued at approximately $3,037,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of Payoneer Global by 21.2% in the 4th quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock worth $54,000 after purchasing an additional 940 shares during the last quarter. Fifth Third Bancorp grew its stake in Payoneer Global by 29.3% during the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock worth $45,000 after buying an additional 1,016 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Payoneer Global by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 145,923 shares of the company’s stock worth $1,465,000 after buying an additional 1,498 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Payoneer Global by 1.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 124,100 shares of the company’s stock worth $1,246,000 after buying an additional 1,700 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Payoneer Global by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 165,996 shares of the company’s stock valued at $1,250,000 after acquiring an additional 1,907 shares during the last quarter. 82.22% of the stock is owned by institutional investors.

Payoneer Global Price Performance

Shares of NASDAQ:PAYO opened at $7.31 on Tuesday. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 2.88 and a beta of 0.97. The company has a 50 day moving average of $9.70 and a 200-day moving average of $9.30. Payoneer Global Inc. has a one year low of $4.27 and a one year high of $11.29.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $261.74 million during the quarter, compared to the consensus estimate 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 in the previous year, the business posted $0.05 earnings per share. Equities research analysts anticipate that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on PAYO. Wolfe Research lowered Payoneer Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Northland Securities raised their target price on Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Citigroup upped 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. Keefe, Bruyette & Woods lowered their price objective on shares of Payoneer Global from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a research report on Monday, February 3rd. They set a “buy” rating and a $13.00 target price 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.07.

Insider Buying and Selling

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total transaction of $884,000.00. Following the transaction, the chief financial officer now owns 2,305,245 shares in the company, valued at approximately $23,974,548. This trade represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tsafi Goldman sold 96,350 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total value of $970,244.50. Following the transaction, the insider now owns 741,748 shares of the company’s stock, valued at $7,469,402.36. The trade was a 11.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.57% of the stock is owned by 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.