Mirae Asset Global Investments Co. Ltd. boosted its stake in PagSeguro Digital Ltd (NYSE:PAGS) by 270.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 399,763 shares of the company’s stock after buying an additional 291,913 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.32% of PagSeguro Digital worth $11,061,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in PagSeguro Digital in the 2nd quarter valued at about $191,000. Partner Investment Management L.P. boosted its position in shares of PagSeguro Digital by 76.1% during the 2nd quarter. Partner Investment Management L.P. now owns 8,981 shares of the company’s stock worth $249,000 after purchasing an additional 3,880 shares during the period. Zions Bancorporation purchased a new position in shares of PagSeguro Digital during the 2nd quarter worth approximately $256,000. Essex Investment Management Co. LLC purchased a new position in PagSeguro Digital in the 3rd quarter valued at approximately $269,000. Finally, First Trust Advisors LP purchased a new position in PagSeguro Digital in the 2nd quarter valued at approximately $338,000.
Several brokerages recently commented on PAGS. Citigroup upgraded shares of PagSeguro Digital from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, November 27th. Zacks Investment Research upgraded shares of PagSeguro Digital from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Wednesday, November 28th. ValuEngine upgraded shares of PagSeguro Digital from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. Deutsche Bank dropped their price target on shares of PagSeguro Digital from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, August 31st. Finally, KeyCorp decreased their price objective on shares of PagSeguro Digital from $42.00 to $35.00 and set an “overweight” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.75.
PagSeguro Digital (NYSE:PAGS) last released its earnings results on Thursday, August 30th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The company had revenue of $279.20 million for the quarter, compared to analyst estimates of $248.46 million. Analysts expect that PagSeguro Digital Ltd will post 0.81 earnings per share for the current year.
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PagSeguro Digital Company Profile
PagSeguro Digital Ltd. provides financial technology solutions and services for micro-merchants, and small and medium-sized businesses in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, an end-to-end 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; and Free PagSeguro digital account, which centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem.
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