Q Global Advisors LLC Purchases 410,996 Shares of Pagaya Technologies Ltd. $PGY

by · The Markets Daily

Q Global Advisors LLC raised its position in Pagaya Technologies Ltd. (NASDAQ:PGY – Free Report) by 324.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 537,551 shares of the company’s stock after purchasing an additional 410,996 shares during the period. Pagaya Technologies makes up approximately 5.5% of Q Global Advisors LLC’s investment portfolio, making the stock its 7th biggest position. Q Global Advisors LLC’s holdings in Pagaya Technologies were worth $6,262,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PGY. Root Financial Partners LLC purchased a new stake in shares of Pagaya Technologies during the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd boosted its holdings in Pagaya Technologies by 351.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,392 shares of the company’s stock valued at $29,000 after purchasing an additional 1,084 shares during the last quarter. Transamerica Financial Advisors LLC acquired a new stake in Pagaya Technologies during the 4th quarter valued at approximately $30,000. Quarry LP grew its stake in Pagaya Technologies by 330.8% during the 4th quarter. Quarry LP now owns 1,663 shares of the company’s stock valued at $35,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Pagaya Technologies during the 4th quarter worth approximately $52,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pagaya Technologies

In related news, insider Evangelos Perros sold 11,558 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $16.23, for a total transaction of $187,586.34. Following the transaction, the insider directly owned 131,241 shares in the company, valued at $2,130,041.43. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tami Rosen sold 9,944 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $15.20, for a total transaction of $151,148.80. Following the completion of the transaction, the director owned 37,544 shares of the company’s stock, valued at approximately $570,668.80. This represents a 20.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 58,090 shares of company stock worth $923,764. Insiders own 41.99% of the company’s stock.

Pagaya Technologies Price Performance

Shares of NASDAQ:PGY opened at $15.89 on Monday. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 14.85 and a beta of 5.32. The company has a current ratio of 12.09, a quick ratio of 12.09 and a debt-to-equity ratio of 1.25. Pagaya Technologies Ltd. has a 1 year low of $10.40 and a 1 year high of $44.99. The business has a fifty day simple moving average of $15.80 and a 200 day simple moving average of $15.21.

Pagaya Technologies (NASDAQ:PGY – Get Free Report) last released its quarterly earnings data on Sunday, March 22nd. The company reported ($40.85) earnings per share (EPS) for the quarter. The business had revenue of $91.63 million during the quarter. Pagaya Technologies had a net margin of 7.39% and a return on equity of 44.75%. As a group, sell-side analysts predict that Pagaya Technologies Ltd. will post 2.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PGY has been the topic of several research analyst reports. Weiss Ratings raised shares of Pagaya Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Zacks Research downgraded shares of Pagaya Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $32.00 price objective on shares of Pagaya Technologies in a report on Monday, May 18th. Finally, Texas Capital raised shares of Pagaya Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Pagaya Technologies has a consensus rating of “Buy” and a consensus target price of $35.86.

Read Our Latest Research Report on PGY

Pagaya Technologies Profile

(Free Report)

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.

Further Reading

Want to see what other hedge funds are holding PGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pagaya Technologies Ltd. (NASDAQ:PGY – Free Report).