Virtu Financial LLC acquired a new position in shares of Pagaya Technologies Ltd. (NASDAQ:PGY – Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 50,424 shares of the company’s stock, valued at approximately $51,000.
Several other institutional investors have also modified their holdings of the company. JTC Employer Solutions Trustee Ltd purchased a new stake in Pagaya Technologies in the first quarter valued at $931,000. ETF Managers Group LLC acquired a new position in shares of Pagaya Technologies during the first quarter worth about $676,000. Orin Green Financial LLC acquired a new position in shares of Pagaya Technologies during the fourth quarter worth about $26,000. State of Wyoming acquired a new position in shares of Pagaya Technologies during the fourth quarter worth about $38,000. Finally, Squarepoint Ops LLC acquired a new position in Pagaya Technologies during the fourth quarter worth about $35,000. 54.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have weighed in on PGY. Benchmark began coverage on shares of Pagaya Technologies in a research report on Tuesday, April 25th. They set a “buy” rating and a $2.00 target price on the stock. B. Riley began coverage on shares of Pagaya Technologies in a research note on Wednesday, July 26th. They set a “buy” rating and a $4.00 price objective on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Pagaya Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $4.06.
Pagaya Technologies Stock Performance
Pagaya Technologies (NASDAQ:PGY – Get Free Report) last released its quarterly earnings results on Tuesday, May 16th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The firm had revenue of $186.64 million for the quarter, compared to analyst estimates of $178.00 million. Pagaya Technologies had a negative net margin of 42.32% and a negative return on equity of 8.02%. As a group, analysts predict that Pagaya Technologies Ltd. will post -0.14 EPS for the current year.
About Pagaya Technologies
Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and internationally. It primarily develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. The company's partners include high-growth financial technology companies, incumbent banks and financial institutions, auto finance providers, and residential real estate service providers.
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