DLocal Limited $DLO Stock: M&G PLC Boosts Holdings

M&G PLC lifted its position in DLocal Limited (NASDAQ:DLO) by 178.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,150,280 shares of the company’s stock after acquiring an additional 737,218 shares during the quarter. M&G PLC owned 0.39% of DLocal worth $16,104,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DLO. Sterling Capital Management LLC increased its stake in DLocal by 847.2% during the third quarter. Sterling Capital Management LLC now owns 3,031 shares of the company’s stock valued at $42,000 after purchasing an additional 2,711 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of DLocal during the third quarter worth $80,000. Parvin Asset Management LLC raised its holdings in shares of DLocal by 51.0% during the first quarter. Parvin Asset Management LLC now owns 7,400 shares of the company’s stock worth $96,000 after purchasing an additional 2,500 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of DLocal during the first quarter worth $348,000. Finally, Calamos Advisors LLC bought a new position in shares of DLocal in the 3rd quarter worth about $616,000. 90.13% of the stock is currently owned by institutional investors.

DLocal Trading Down 2.8%

Shares of NASDAQ DLO opened at $13.99 on Wednesday. The stock has a 50 day simple moving average of $14.42 and a 200-day simple moving average of $13.54. The company has a market cap of $4.13 billion, a PE ratio of 20.88 and a beta of 0.95. DLocal Limited has a 12-month low of $10.64 and a 12-month high of $16.15.

DLocal (NASDAQ:DLO) last announced its earnings results on Friday, August 14th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. DLocal had a net margin of 15.04% and a return on equity of 41.64%. The firm had revenue of $399.66 million during the quarter, compared to analyst estimates of $366.77 million. During the same quarter in the prior year, the firm posted $0.14 EPS. DLocal’s revenue was up 55.9% compared to the same quarter last year. Sell-side analysts forecast that DLocal Limited will post 0.80 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DLO. Weiss Ratings downgraded shares of DLocal from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, November 2nd. Truist Financial dropped their price objective on shares of DLocal from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Finally, The Goldman Sachs Group raised their target price on shares of DLocal from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, DLocal currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

DLocal Company Profile

DLocal is a payments technology company that helps global businesses accept and send payments in emerging markets. Its platform connects merchants with local payment systems, allowing them to manage transactions across multiple countries through a single integration. The company’s services include payment collection, or pay-ins, and disbursements, or pay-outs. It supports local payment options such as cards, bank transfers, digital wallets and cash-based methods, helping businesses serve customers who may not use international payment networks.