Formula Growth Ltd. trimmed its stake in shares of PagSeguro Digital Ltd (NYSE:PAGS) by 7.9% in the first quarter, Holdings Channel reports. The fund owned 1,025,808 shares of the company’s stock after selling 88,000 shares during the quarter. PagSeguro Digital makes up approximately 4.3% of Formula Growth Ltd.’s investment portfolio, making the stock its biggest position. Formula Growth Ltd.’s holdings in PagSeguro Digital were worth $30,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PAGS. Flagship Harbor Advisors LLC acquired a new stake in PagSeguro Digital during the first quarter worth approximately $28,000. Catamount Wealth Management acquired a new stake in PagSeguro Digital in the first quarter valued at approximately $66,000. Tortoise Index Solutions LLC acquired a new stake in PagSeguro Digital in the first quarter valued at approximately $71,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in PagSeguro Digital in the first quarter valued at approximately $90,000. Finally, Intellectus Partners LLC grew its stake in PagSeguro Digital by 72.6% in the fourth quarter. Intellectus Partners LLC now owns 5,350 shares of the company’s stock valued at $100,000 after acquiring an additional 2,250 shares during the period.

Shares of PagSeguro Digital stock opened at $35.54 on Friday. PagSeguro Digital Ltd has a 52 week low of $17.02 and a 52 week high of $37.06. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 1.16 and a beta of 0.36.

PagSeguro Digital (NYSE:PAGS) last posted its earnings results on Tuesday, May 14th. The company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.76. PagSeguro Digital had a return on equity of 18.15% and a net margin of 23.00%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.26 billion. The business’s quarterly revenue was up 34.8% compared to the same quarter last year. Equities research analysts expect that PagSeguro Digital Ltd will post 1.16 EPS for the current fiscal year.

A number of brokerages have commented on PAGS. Goldman Sachs Group began coverage on PagSeguro Digital in a research note on Monday, June 10th. They issued a “buy” rating and a $40.00 price objective for the company. ValuEngine raised PagSeguro Digital from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. raised PagSeguro Digital from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $27.00 to $35.00 in a research note on Wednesday, March 27th. HSBC began coverage on PagSeguro Digital in a research note on Tuesday, May 7th. They issued a “reduce” rating and a $24.00 price objective for the company. Finally, Guggenheim raised PagSeguro Digital from a “neutral” rating to a “buy” rating in a research note on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. PagSeguro Digital currently has a consensus rating of “Buy” and an average target price of $32.47.

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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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Institutional Ownership by Quarter for PagSeguro Digital (NYSE:PAGS)

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