Insider Selling: Paysign, Inc. (NASDAQ:PAYS) CEO Sells 22,000 Shares of Stock

Paysign, Inc. (NASDAQ:PAYS) CEO Mark Newcomer sold 22,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $3.75, for a total transaction of $82,500.00. Following the completion of the sale, the chief executive officer now directly owns 9,414,886 shares of the company’s stock, valued at $35,305,822.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, October 23rd, Mark Newcomer sold 36,000 shares of Paysign stock. The stock was sold at an average price of $3.66, for a total transaction of $131,760.00.
• On Monday, September 23rd, Mark Newcomer sold 50,000 shares of Paysign stock. The shares were sold at an average price of $4.25, for a total value of $212,500.00.
• 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 value 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 Price Performance

NASDAQ:PAYS traded up $0.04 during mid-day trading on Wednesday, reaching $3.79. 250,542 shares of the company’s stock traded hands, compared to its average volume of 258,922. The company has a 50 day moving average price of $4.23 and a 200-day moving average price of $4.40. The firm has a market capitalization of $200.79 million, a price-to-earnings ratio of 29.15 and a beta of 0.96. Paysign, Inc. has a 12-month low of $1.68 and a 12-month high of $5.59.

Paysign (NASDAQ:PAYS) last posted its earnings results on Wednesday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $14.33 million for the quarter, compared to analysts’ expectations of $14.07 million. Paysign had a return on equity of 32.55% and a net margin of 14.42%. As a group, analysts forecast that Paysign, Inc. will post 0.21 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Joule Financial LLC purchased a new stake in shares of Paysign in the 3rd quarter worth about $1,478,000. SG Americas Securities LLC bought a new position in Paysign in the third quarter worth about $43,000. Sanctuary Advisors LLC purchased a new stake in Paysign in the second quarter worth about $512,000. Algert Global LLC purchased a new stake in Paysign in the second quarter worth about $46,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Paysign during the 2nd quarter valued at approximately $66,000. 25.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $7.00 target price on shares of Paysign in a research note 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.