Mark Newcomer Sells 50,000 Shares of Paysign, Inc. (NASDAQ:PAYS) Stock

Paysign, Inc. (NASDAQ:PAYS) CEO Mark Newcomer sold 50,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $4.25, for a total transaction of $212,500.00. Following the completion of the transaction, the chief executive officer now owns 9,486,886 shares in the company, valued at $40,319,265.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Mark Newcomer also recently made the following trade(s):

• On Thursday, September 19th, Mark Newcomer sold 1,500 shares of Paysign stock. The shares were sold at an average price of $4.50, for a total transaction of $6,750.00.
• On Friday, September 13th, Mark Newcomer sold 1,500 shares of Paysign stock. The stock was sold at an average price of $4.50, for a total value of $6,750.00.
• On Monday, August 5th, Mark Newcomer sold 69,593 shares of Paysign stock. The shares were sold at an average price of $4.54, for a total value of $315,952.22.

Paysign Stock Performance

NASDAQ:PAYS opened at $4.18 on Wednesday. Paysign, Inc. has a fifty-two week low of $1.67 and a fifty-two week high of $5.59. The company has a 50 day moving average price of $4.70 and a 200 day moving average price of $4.37. The stock has a market capitalization of $221.45 million, a P/E ratio of 32.15 and a beta of 0.96.

Paysign (NASDAQ:PAYS) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.01 EPS for the quarter. The business had revenue of $14.33 million during the quarter, compared to analyst estimates of $14.07 million. Paysign had a return on equity of 32.55% and a net margin of 14.42%. Research analysts forecast that Paysign, Inc. will post 0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paysign

Several institutional investors have recently bought and sold shares of PAYS. Sanctuary Advisors LLC acquired a new stake in shares of Paysign during the second quarter worth about $512,000. Algert Global LLC purchased a new stake in Paysign during the 2nd quarter worth approximately $46,000. The Manufacturers Life Insurance Company acquired a new stake in Paysign during the 2nd quarter worth approximately $66,000. Renaissance Technologies LLC boosted its position in Paysign by 25.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,504,380 shares of the company’s stock valued at $6,484,000 after buying an additional 301,000 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Paysign by 51.5% in the second quarter. Dimensional Fund Advisors LP now owns 116,779 shares of the company’s stock worth $502,000 after acquiring an additional 39,710 shares in the last quarter. 25.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and set a $7.00 price objective on shares of Paysign in a research report on Friday, June 28th.

About Paysign

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.