Mirae Asset Global Investments Co. Ltd. reduced its stake in PagSeguro Digital Ltd. (NYSE:PAGS – Get Rating) by 13.0% in the 1st quarter, according to its last disclosure to the Securities & Exchange Commission. The institutional investor held 491,713 shares of the company after selling 73,659 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.15% of PagSeguro Digital worth $9,859,000 at the end of the last quarter.
Other hedge funds have also recently changed their holdings in the company. Provida Pension Fund Administrator acquired a new equity stake in PagSeguro Digital during the fourth quarter worth approximately $52,000. Asset Management One Co. Ltd. increased its holdings of PagSeguro Digital shares by 77.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,829 shares of the company valued at $72,000 after purchasing an additional 1,231 shares last quarter. Allspring Global Investments Holdings LLC acquired a new equity stake in PagSeguro Digital in the fourth quarter worth approximately $137,000. Capital Analysts LLC increased its equity stake in PagSeguro Digital to 93.9% in the fourth quarter. Capital Analysts LLC now owns 5,942 shares of the company valued at $156,000 after buying 2,877 additional shares in the last quarter. Finally, Eaton Vance Management increased its equity stake in PagSeguro Digital by 403.2% in the fourth quarter. Eaton Vance Management now owns 6,376 shares of the company valued at $125,000 after purchasing an additional 5,109 shares last quarter. Institutional investors and hedge funds hold 57.31% of the company’s shares.
Analysts set new price targets
PAGS has been the subject of a number of research reports. Citigroup lowered its price target on PagSeguro Digital shares from $26.00 to $19.00 and set a “buy” rating for the company in a Tuesday, June 21 report. New Street Research cut PagSeguro Digital shares from a “buy” rating to a “neutral” rating and set a price target of $18.00 on the stock. in a Monday May 9 research note. Piper Sandler cut her price target on shares of PagSeguro Digital from $22.00 to $13.00 and set an “overweight” rating on the stock in a Wednesday July 6 research note. Wells Fargo & Company cut its price target on PagSeguro Digital shares from $23.00 to $21.00 and set an “equal weight” rating on the stock in a Thursday, June 9 research note. Finally, Susquehanna Bancshares cut its price target on PagSeguro Digital shares from $38.00 to $26.00 in a Monday, May 2 research note. Seven investment analysts gave the stock a hold rating and ten gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.94.
PagSeguro Digital Trading down 10.6%
PAGS shares opened at $12.83 on Friday. PagSeguro Digital Ltd. has a 1-year minimum of $9.45 and a 1-year maximum of $61.65. The company’s fifty-day moving average price is $11.78 and its two-hundred-day moving average price is $14.45. The company has a market capitalization of $4.23 billion, a P/E ratio of 18.07, a PEG ratio of 0.71 and a beta of 1.74.
PagSeguro Digital (NYSE:PAGS – Get Rating) last released quarterly earnings data on Wednesday, June 8. The company reported earnings per share of $0.21 for the quarter, hitting the consensus estimate of $0.21. The company posted revenue of $655.70 million for the quarter, versus analyst estimates of $689.08 million. PagSeguro Digital had a net margin of 10.56% and a return on equity of 14.81%. As a group, equity research analysts predict that PagSeguro Digital Ltd. will post an EPS of 0.91 for the current fiscal year.
PagSeguro Digital Company Profile
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PagSeguro Digital Ltd., together with its subsidiaries, provides financial technology solutions and services to consumers, individual entrepreneurs, micro-merchants and small and medium enterprises in Brazil and internationally. The Company’s products and services include PagSeguro Ecosystem, a digital ecosystem that functions as a closed loop where its customers can meet their major day-to-day financial needs, including receiving and spending funds, and managing and growing their businesses; PagBank Digital Account, which offers banking services through the PagBank mobile app, as well as centralizes various cash-out options, features, services and cash-out options into a single ecosystem; and PlugPag, a tool for midsize and large merchants that allows them to connect their point-of-sale (POS) device directly to their enterprise resource planning software or sales automation system via Bluetooth.
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