Absolute Gestao de Investimentos Ltda. Sells 141,148 Shares of PagSeguro Digital Ltd. $PAGS

Key Points

• Absolute Gestao de Investimentos Ltda. reduced its holdings in PagSeguro Digital by 60.0%, selling 141,148 shares and bringing its total to 94,169 shares, valued at approximately $719,000 as of the last reporting period.
• PagSeguro Digital reported positive quarterly earnings, with $0.34 EPS surpassing the expected $0.31 and a revenue of $930.17 million, exceeding expectations of $901.10 million.
• Currently, 45.88% of PagSeguro's stock is owned by institutional investors, with several funds adjusting their stakes, indicating varying confidence levels in the company's future performance.

Absolute Gestao de Investimentos Ltda. trimmed its stake in shares of PagSeguro Digital Ltd. (NYSE:PAGS - Free Report) by 60.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 94,169 shares of the company's stock after selling 141,148 shares during the quarter. Absolute Gestao de Investimentos Ltda.'s holdings in PagSeguro Digital were worth $719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. bought a new stake in shares of PagSeguro Digital during the 1st quarter worth $26,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PagSeguro Digital by 626.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,143 shares of the company's stock worth $39,000 after buying an additional 4,435 shares during the last quarter. State of Wyoming lifted its position in shares of PagSeguro Digital by 32.8% during the 4th quarter. State of Wyoming now owns 6,436 shares of the company's stock worth $40,000 after buying an additional 1,591 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of PagSeguro Digital by 166.9% during the 1st quarter. Harbor Capital Advisors Inc. now owns 6,685 shares of the company's stock worth $51,000 after buying an additional 4,180 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of PagSeguro Digital by 50.6% during the 1st quarter. Signaturefd LLC now owns 6,863 shares of the company's stock worth $52,000 after buying an additional 2,306 shares during the last quarter. 45.88% of the stock is currently owned by institutional investors.

PagSeguro Digital Price Performance

Shares of PagSeguro Digital stock traded up $0.3250 during midday trading on Friday, reaching $8.7050. The company had a trading volume of 4,092,695 shares, compared to its average volume of 4,509,092. The stock has a fifty day moving average price of $8.74 and a 200 day moving average price of $8.55. The firm has a market cap of $2.87 billion, a PE ratio of 7.02, a P/E/G ratio of 0.57 and a beta of 1.57. PagSeguro Digital Ltd. has a fifty-two week low of $6.11 and a fifty-two week high of $11.97.

PagSeguro Digital (NYSE:PAGS - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The company had revenue of $930.17 million for the quarter, compared to analyst estimates of $901.10 million. PagSeguro Digital had a return on equity of 15.52% and a net margin of 11.04%. As a group, sell-side analysts forecast that PagSeguro Digital Ltd. will post 1.17 EPS for the current year.

PagSeguro Digital Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Friday, August 15th. Investors of record on Wednesday, July 16th were paid a $0.12 dividend. This represents a dividend yield of 150.0%. The ex-dividend date of this dividend was Wednesday, July 16th. PagSeguro Digital's payout ratio is currently 11.29%.

Analyst Ratings Changes

Several brokerages recently weighed in on PAGS. Susquehanna dropped their price objective on PagSeguro Digital from $16.00 to $14.00 and set a "positive" rating for the company in a research report on Wednesday, May 14th. JPMorgan Chase & Co. increased their target price on PagSeguro Digital from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised PagSeguro Digital from a "hold" rating to a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, PagSeguro Digital currently has a consensus rating of "Moderate Buy" and an average target price of $11.36.

PagSeguro Digital Company 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.