BRC Global BAH Investments Ltd. Makes New $84.50 Million Investment in StoneCo Ltd. $STNE

BRC Global BAH Investments Ltd. purchased a new position in shares of StoneCo Ltd. (NASDAQ:STNE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,713,391 shares of the company’s stock, valued at approximately $84,501,000. StoneCo comprises about 100.0% of BRC Global BAH Investments Ltd.’s portfolio, making the stock its biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its position in shares of StoneCo by 131.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 219,614 shares of the company’s stock worth $3,248,000 after buying an additional 124,734 shares during the period. Coronation Fund Managers Ltd. boosted its position in shares of StoneCo by 71.7% in the fourth quarter. Coronation Fund Managers Ltd. now owns 2,499,733 shares of the company’s stock worth $36,971,000 after buying an additional 1,043,464 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of StoneCo in the fourth quarter worth about $3,546,000. Alta Wealth Advisors LLC purchased a new stake in shares of StoneCo in the third quarter worth about $1,631,000. Finally, Jain Global LLC boosted its position in shares of StoneCo by 381.1% in the third quarter. Jain Global LLC now owns 769,596 shares of the company’s stock worth $14,553,000 after buying an additional 609,627 shares during the period. 73.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on STNE shares. BTIG Research reaffirmed a “buy” rating and issued a $22.00 target price on shares of StoneCo in a research report on Tuesday, March 3rd. Santander downgraded StoneCo from an “outperform” rating to a “neutral” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. decreased their target price on StoneCo from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, April 15th. The Goldman Sachs Group decreased their target price on StoneCo from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. Finally, Zacks Research raised StoneCo from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

StoneCo Stock Performance

Shares of STNE opened at $10.77 on Monday. The company has a market capitalization of $2.68 billion, a P/E ratio of 7.04, a P/E/G ratio of 0.23 and a beta of 1.73. StoneCo Ltd. has a one year low of $10.74 and a one year high of $19.95. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a 50-day moving average price of $13.97 and a 200 day moving average price of $15.44.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $675.42 million during the quarter, compared to the consensus estimate of $704.26 million. StoneCo had a return on equity of 21.55% and a net margin of 15.38%. Sell-side analysts forecast that StoneCo Ltd. will post 1.99 EPS for the current fiscal year.

StoneCo Dividend Announcement

The firm also recently declared a special dividend, which was paid on Monday, May 4th. Investors of record on Friday, April 24th were issued a $2.53 dividend. The ex-dividend date of this dividend was Friday, April 24th.

About StoneCo

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.