Pagaya: Unwarranted Sell Off [Seeking Alpha]
Pagaya Technologies Ltd. (PGY)
Company Research
Source: Seeking Alpha
Follow Play 5min Summary Pagaya Technologies originally fell over 30% after announcing a debt refinancing plan to save $30 million in annual interest expenses, improving cash flow. The market's reaction was irrational, likely due to concerns over potential shareholder dilution from $125+ million in exchangeable notes. The stock is cheap at 3.5x adjusted EBITDA targets, while the business continues to grow at a fast clip. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our subscriber-only portfolios. Learn More » J Studios Despite more strong results, Pagaya Technologies Ltd. NASDAQ: PGY ) fell hard after a debt offering. The fintech made the move to immediately improve financials, yet the market irrationally sold off the stock. My investment thesis remains If you'd like to learn more about how to best position yourself in under valued stocks mispriced by the market to end Q3, consider joining Out Fox The Street
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PGY
News
- Pagaya Announces Pricing of Upsized $140 Million Exchangeable Senior Notes Offering at a 45% Exchange Premium [Yahoo! Finance]Yahoo! Finance
- Pagaya Announces Pricing of Upsized $140 Million Exchangeable Senior Notes Offering at a 45% Exchange PremiumBusiness Wire
- US Growth Companies With High Insider Ownership [Yahoo! Finance]Yahoo! Finance
- Pagaya Technologies: The Writing Is On The Wall (Rating Downgrade) [Seeking Alpha]Seeking Alpha
- Pagaya Announces Proposed Exchangeable Senior Notes OfferingBusiness Wire
PGY
Earnings
- 8/9/24 - Beat
PGY
Sec Filings
- 9/25/24 - Form 8-K
- 9/17/24 - Form 4
- 9/17/24 - Form 4
- PGY's page on the SEC website