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James Li
James Li
Articles (569)  | Author's Website |

Steven Cohen Dives Into PagSeguro Digital

Point72 asset manager triples his stake in the Brazilian financial tech solutions company

June 25, 2018 | About:

Steven Cohen (Trades, Portfolio) disclosed on Thursday that he increased his position in PagSeguro Digital Ltd. (NYSE:PAGS) by 202.70%, according to GuruFocus real-time picks.

The Point72 asset manager added 4,276,940 shares for an average price of $29.43 per share, increasing his position to 6,386,959 shares. Cohen dedicated 0.52% of his portfolio to the transaction.

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Company announces $965 million follow-on offering and strategic plans with the pending proceeds

PagSeguro Digital announced on Thursday that the company and its selling shareholder Universo Online SA priced their follow-on public offering of 33 million Class A shares at $29.25, representing an aggregate offering of $965 million. The company expects to have 326,684,418 total shares outstanding following the offer.

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PagSeguro Digital said it would continue exploiting “new market opportunities” through various initiatives, including investments in new technologies and services for the company’s digital ecosystem with the proceeds from the offering. The company highlighted key advancements to two of its products in its first-quarter earnings release: the Moderninha Pro enables merchants to “share a point-of-sale device” while the Minizinha Chip allows for handy and affordable chip-recognition.

See also

GuruFocus lists several positive investing signs for PagSeguro Digital, including a price-sales ratio near a 52-week low. The company trades around $29.25 as of 11 a.m., close to its 52-week low of $26.78. Additionally, PagSeguro Digital’s financial strength ranks a strong 8 out of 10, driven by a robust Altman Z-score of 6.63.

Cohen has the largest stake in PagSeguro Digital as of Monday. Other gurus with large holdings in the company include Daniel Loeb (Trades, Portfolio), Ron Baron (Trades, Portfolio) and Steve Mandel (Trades, Portfolio).

Disclosure: No position.

About the author:

James Li
I am an editorial assistant and researcher at GuruFocus. I have a Master's in Finance from SMU, and I enjoy writing reports on financial trends and investor portfolios. Follow me on Twitter at @JamesLiGuru!

Visit James Li's Website


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