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

PagSeguro Digital Ltd. (NYSE:PAGS) was down 3.8% during mid-day trading on Wednesday . The stock traded as low as $8.19 and last traded at $8.19. Approximately 783,988 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 3,893,055 shares. The stock had previously closed at $8.51.

Analysts Set New Price Targets

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

PagSeguro Digital Stock Performance

The stock’s fifty day simple moving average is $8.62 and its two-hundred day simple moving average is $11.02. The stock has a market capitalization of $2.70 billion, a P/E ratio of 6.98, a price-to-earnings-growth ratio of 0.44 and a beta of 1.95.

PagSeguro Digital (NYSE:PAGS) last announced its earnings results on Tuesday, August 20th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $874.38 million during the quarter, compared to analyst estimates of $816.34 million. PagSeguro Digital had a return on equity of 14.97% and a net margin of 10.93%. During the same period last year, the company earned $0.26 EPS. As a group, analysts expect that PagSeguro Digital Ltd. will post 1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in shares of 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. Y.D. More Investments Ltd grew its position in shares of PagSeguro Digital by 82.5% in the second quarter. Y.D. More Investments Ltd now owns 3,983 shares of the company’s stock valued at $47,000 after purchasing an additional 1,800 shares in the last quarter. Truvestments Capital LLC raised its stake in shares of PagSeguro Digital by 9.9% during the 3rd quarter. Truvestments Capital LLC now owns 21,410 shares of the company’s stock valued at $184,000 after purchasing an additional 1,923 shares during the period. Headlands Technologies LLC purchased a new stake in PagSeguro Digital during the 1st quarter worth about $30,000. Finally, Los Angeles Capital Management LLC boosted its stake in PagSeguro Digital by 1.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 110,951 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,083 shares during the period. Hedge funds and other institutional investors own 45.88% of the company’s stock.

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.