Verition Fund Management LLC Sells 290,714 Shares of PagSeguro Digital Ltd. (NYSE:PAGS)

Verition Fund Management LLC lessened its position in PagSeguro Digital Ltd. (NYSE:PAGS) by 64.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 161,870 shares of the company’s stock after selling 290,714 shares during the period. Verition Fund Management LLC’s holdings in PagSeguro Digital were worth $1,394,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PAGS. Y.D. More Investments Ltd grew its position in PagSeguro Digital by 82.5% in the 2nd quarter. Y.D. More Investments Ltd now owns 3,983 shares of the company’s stock valued at $47,000 after acquiring an additional 1,800 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of PagSeguro Digital during the second quarter valued at $50,000. Quarry LP grew its holdings in shares of PagSeguro Digital by 156.2% in the second quarter. Quarry LP now owns 6,242 shares of the company’s stock worth $73,000 after purchasing an additional 3,806 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in PagSeguro Digital in the 2nd quarter worth about $74,000. Finally, Nisa Investment Advisors LLC lifted its holdings in PagSeguro Digital by 26.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,716 shares of the company’s stock valued at $79,000 after buying an additional 1,421 shares in the last quarter. 45.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays reduced their target price on shares of PagSeguro Digital from $16.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley restated an “underweight” rating and set a $6.50 price objective (down from $14.00) on shares of PagSeguro Digital in a report on Thursday, September 5th. The Goldman Sachs Group lowered their target price on PagSeguro Digital from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 15th. Itau BBA Securities downgraded PagSeguro Digital from an “outperform” rating to a “market perform” rating and set a $12.00 price objective for the company. in a report on Tuesday, October 1st. Finally, KeyCorp upgraded shares of PagSeguro Digital to a “hold” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.36.

PagSeguro Digital Stock Performance

NYSE:PAGS opened at $7.11 on Friday. The company’s 50-day simple moving average is $8.05 and its 200-day simple moving average is $10.41. PagSeguro Digital Ltd. has a fifty-two week low of $7.08 and a fifty-two week high of $14.98. The stock has a market capitalization of $2.34 billion, a P/E ratio of 5.88, a P/E/G ratio of 0.38 and a beta of 1.92.

PagSeguro Digital Profile

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.