PagSeguro Digital (NYSE:PAGS) Shares Gap Down – What’s Next?

PagSeguro Digital Ltd. (NYSE:PAGS)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $6.92, but opened at $6.59. PagSeguro Digital shares last traded at $6.67, with a volume of 442,717 shares traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PAGS. Susquehanna cut their price target on PagSeguro Digital from $19.00 to $16.00 and set a “positive” rating on the stock in a research note on Monday, November 18th. Bank of America restated a “neutral” rating on shares of PagSeguro Digital in a research report on Tuesday, December 10th. Cantor Fitzgerald raised shares of PagSeguro Digital to a “strong-buy” rating in a report on Thursday, October 3rd. KeyCorp raised shares of PagSeguro Digital to a “hold” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group reduced their price objective on shares of PagSeguro Digital from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.18.

PagSeguro Digital Stock Performance

The company’s fifty day moving average price is $7.02 and its 200-day moving average price is $9.32. The stock has a market cap of $2.22 billion, a P/E ratio of 5.56, a price-to-earnings-growth ratio of 0.40 and a beta of 1.94.

Institutional Investors Weigh In On PagSeguro Digital

Several institutional investors have recently made changes to their positions in the company. SPX Gestao de Recursos Ltda purchased a new stake in PagSeguro Digital in the 3rd quarter valued at about $38,151,000. Marshall Wace LLP boosted its position in PagSeguro Digital by 55.5% in the 2nd quarter. Marshall Wace LLP now owns 6,994,870 shares of the company’s stock valued at $81,770,000 after buying an additional 2,497,968 shares during the period. Millennium Management LLC boosted its position in PagSeguro Digital by 115.1% in the 2nd quarter. Millennium Management LLC now owns 3,813,901 shares of the company’s stock valued at $44,585,000 after buying an additional 2,040,704 shares during the period. State Street Corp boosted its position in PagSeguro Digital by 50.8% in the 3rd quarter. State Street Corp now owns 5,908,054 shares of the company’s stock valued at $50,868,000 after buying an additional 1,990,849 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of PagSeguro Digital by 26.4% in the 3rd 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 in the last quarter. 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.