Formula Growth Ltd. Lowers Stake in PagSeguro Digital Ltd (NYSE:PAGS)
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.
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.
ILLEGAL ACTIVITY NOTICE: “Formula Growth Ltd. Lowers Stake in PagSeguro Digital Ltd (NYSE:PAGS)” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://www.watchlistnews.com/formula-growth-ltd-lowers-stake-in-pagseguro-digital-ltd-nysepags/3042304.html.
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.
Featured Story: How to interpret the current ratio
Want to see what other hedge funds are holding PAGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PagSeguro Digital Ltd (NYSE:PAGS).
Receive News & Ratings for PagSeguro Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PagSeguro Digital and related companies with MarketBeat.com's FREE daily email newsletter.