PagSeguro Digital (NYSE:PAGS) Downgraded by Bank of America to Neutral

Bank of America cut shares of PagSeguro Digital (NYSE:PAGS) from a buy rating to a neutral rating in a report published on Wednesday, MarketBeat reports. They currently have $10.00 target price on the stock.

PAGS has been the topic of several other reports. JPMorgan Chase & Co. lowered their price target on shares of PagSeguro Digital from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Weiss Ratings lowered PagSeguro Digital from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Wall Street Zen cut PagSeguro Digital from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Autonomous Res lowered PagSeguro Digital from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.40.

PagSeguro Digital Trading Down 0.6%

Shares of PagSeguro Digital stock opened at $9.22 on Wednesday. PagSeguro Digital has a 1 year low of $7.74 and a 1 year high of $12.32. The company has a market cap of $2.58 billion, a P/E ratio of 6.78, a P/E/G ratio of 0.37 and a beta of 1.32. The stock has a 50-day moving average price of $9.07 and a 200 day moving average price of $9.95.

PagSeguro Digital (NYSE:PAGS) last released its earnings results on Wednesday, May 13th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $642.01 million for the quarter, compared to analysts’ expectations of $952.64 million. PagSeguro Digital had a net margin of 10.40% and a return on equity of 16.44%. On average, equities analysts forecast that PagSeguro Digital will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at PagSeguro Digital

In related news, Director Alexandre Mr Magnani sold 200,000 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $11.26, for a total transaction of $2,252,000.00. Following the completion of the sale, the director directly owned 607,390 shares of the company’s stock, valued at approximately $6,839,211.40. This represents a 24.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On PagSeguro Digital

Hedge funds have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. increased its position in shares of PagSeguro Digital by 108.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,610,914 shares of the company’s stock valued at $63,729,000 after purchasing an additional 3,435,211 shares during the period. Maple Rock Capital Partners Inc. bought a new position in PagSeguro Digital in the third quarter worth $28,011,000. Jacobs Levy Equity Management Inc. lifted its position in PagSeguro Digital by 5,302.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,156,848 shares of the company’s stock worth $21,568,000 after purchasing an additional 2,116,925 shares during the period. Orbis Allan Gray Ltd acquired a new stake in PagSeguro Digital during the second quarter worth $20,106,000. Finally, Jain Global LLC acquired a new stake in PagSeguro Digital during the fourth quarter worth $17,424,000. 45.88% of the stock is currently owned by institutional investors.

About PagSeguro Digital

PagSeguro Digital Ltd. is a Brazil-based financial technology company that specializes in digital payment solutions for merchants and consumers. Through its online platform and a suite of physical point-of-sale devices, the company enables businesses of all sizes to accept credit and debit cards, process e-commerce transactions, and manage payments via QR codes and digital wallets. In addition to payment acceptance, PagSeguro offers prepaid accounts, funds transfers, and working-capital credit lines designed to support small and medium-sized enterprises.

The company’s product portfolio includes portable card readers, countertop terminals, and mobile point-of-sale devices that connect via Bluetooth or cellular networks.