Citigroup Reiterates “Neutral” Rating for PagSeguro Digital (NYSE:PAGS)

PagSeguro Digital (NYSE:PAGS)‘s stock had its “neutral” rating restated by research analysts at Citigroup in a research note issued to investors on Thursday,Benzinga reports. They currently have a $7.00 price target on the stock, down from their prior price target of $17.00. Citigroup’s target price points to a potential upside of 1.16% from the stock’s current price.

A number of other analysts have also issued reports on the company. Susquehanna decreased their price objective 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. Itau BBA Securities cut PagSeguro Digital from an “outperform” rating to a “market perform” rating and set a $12.00 price target on the stock. in a research report on Tuesday, October 1st. KeyCorp upgraded shares of PagSeguro Digital to a “hold” rating in a research report on Friday, November 15th. Bank of America reaffirmed a “neutral” rating on shares of PagSeguro Digital in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group cut their price target on shares of PagSeguro Digital from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PagSeguro Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.18.

PagSeguro Digital Trading Up 4.2 %

PagSeguro Digital stock opened at $6.92 on Thursday. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 5.72, a P/E/G ratio of 0.40 and a beta of 1.94. The firm has a 50 day simple moving average of $7.08 and a 200 day simple moving average of $9.37. PagSeguro Digital has a 1-year low of $6.11 and a 1-year high of $14.98.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its stake in PagSeguro Digital by 55.5% during the second quarter. Marshall Wace LLP now owns 6,994,870 shares of the company’s stock worth $81,770,000 after purchasing an additional 2,497,968 shares during the last quarter. State Street Corp raised its holdings in shares of PagSeguro Digital by 50.8% during 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 in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in 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 worth $47,168,000 after buying an additional 1,144,590 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in PagSeguro Digital in the third quarter worth approximately $38,151,000. Finally, Millennium Management LLC grew its position in PagSeguro Digital by 115.1% during the second quarter. Millennium Management LLC now owns 3,813,901 shares of the company’s stock valued at $44,585,000 after acquiring an additional 2,040,704 shares during the last quarter. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

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.