PagSeguro Digital (NYSE:PAGS) Stock Price Down 3.8% – Here’s Why

PagSeguro Digital Ltd. (NYSE:PAGS)’s share price fell 3.8% on Wednesday . The stock traded as low as $8.19 and last traded at $8.19. 783,988 shares traded hands during trading, a decline of 80% from the average session volume of 3,893,055 shares. The stock had previously closed at $8.51.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PAGS. The Goldman Sachs Group decreased their price target on shares of PagSeguro Digital from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Itau BBA Securities downgraded shares of PagSeguro Digital from an “outperform” rating to a “market perform” rating and set a $12.00 price target for the company. in a research note on Tuesday, October 1st. Morgan Stanley reaffirmed an “underweight” rating and set a $6.50 price target (down previously from $14.00) on shares of PagSeguro Digital in a research note on Thursday, September 5th. Barclays cut their price objective on shares of PagSeguro Digital from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Finally, Cantor Fitzgerald raised shares of PagSeguro Digital to a “strong-buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.40.

PagSeguro Digital Price Performance

The stock has a market capitalization of $2.58 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 0.42 and a beta of 1.95. The business’s fifty day moving average price is $8.53 and its two-hundred day moving average price is $10.97.

PagSeguro Digital (NYSE:PAGS) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $874.38 million for the quarter, compared to analyst estimates of $816.34 million. PagSeguro Digital had a net margin of 10.93% and a return on equity of 14.97%. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, equities research analysts anticipate that PagSeguro Digital Ltd. will post 1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PagSeguro Digital

A number of large investors have recently made changes to their positions in the stock. Sylebra Capital LLC lifted its position in PagSeguro Digital by 0.7% during the first quarter. Sylebra Capital LLC now owns 9,593,685 shares of the company’s stock valued at $136,998,000 after purchasing an additional 64,671 shares during the period. Marshall Wace LLP lifted its position in PagSeguro Digital by 55.5% during the second quarter. Marshall Wace LLP now owns 6,994,870 shares of the company’s stock valued at $81,770,000 after purchasing an additional 2,497,968 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in PagSeguro Digital by 26.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 5,478,310 shares of the company’s stock valued at $47,168,000 after purchasing an additional 1,144,590 shares during the period. Millennium Management LLC raised its position in shares of PagSeguro Digital by 115.1% in the second quarter. Millennium Management LLC now owns 3,813,901 shares of the company’s stock worth $44,585,000 after acquiring an additional 2,040,704 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of PagSeguro Digital by 35.7% in the second quarter. Acadian Asset Management LLC now owns 2,454,259 shares of the company’s stock worth $28,670,000 after acquiring an additional 645,562 shares during the period. 45.88% of the stock is owned by hedge funds and other institutional investors.

About PagSeguro Digital

PagSeguro Digital Ltd., together with its subsidiaries, provides financial technology solutions and services for consumers, individual entrepreneurs, micro-merchants, and small and medium-sized companies in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, a digital ecosystem that operates as a closed loop where its clients are able to address their primary day to day financial needs, including receiving and spending funds, and managing and growing their businesses; PagBank digital account, which offers payment and banking services through the PagBank mobile app, as well as centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem; and PlugPag, a tool for medium-sized and larger merchants that enables them to connect their point of sale (POS) device directly to their enterprise resource planning software or sales automation system through Bluetooth.