Incline Global Management LLC Purchases Shares of 773,072 StoneCo Ltd. $STNE

Incline Global Management LLC purchased a new stake in shares of StoneCo Ltd. (NASDAQ:STNE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 773,072 shares of the company’s stock, valued at approximately $11,434,000. StoneCo comprises about 3.9% of Incline Global Management LLC’s holdings, making the stock its 15th biggest position. Incline Global Management LLC owned about 0.27% of StoneCo at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of STNE. AQR Capital Management LLC purchased a new stake in shares of StoneCo during the first quarter valued at about $902,000. Strs Ohio purchased a new stake in shares of StoneCo during the first quarter valued at about $70,000. Prudential Financial Inc. lifted its position in shares of StoneCo by 37.4% during the second quarter. Prudential Financial Inc. now owns 28,075 shares of the company’s stock valued at $450,000 after buying an additional 7,635 shares during the last quarter. Invesco Ltd. increased its holdings in shares of StoneCo by 8.3% during the second quarter. Invesco Ltd. now owns 256,142 shares of the company’s stock valued at $4,109,000 after acquiring an additional 19,723 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of StoneCo by 10.0% during the second quarter. First Trust Advisors LP now owns 13,995 shares of the company’s stock valued at $224,000 after acquiring an additional 1,273 shares in the last quarter. 73.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Silvio Jose Morais sold 9,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $11.29, for a total value of $101,610.00. Following the transaction, the director owned 21,000 shares in the company, valued at approximately $237,090. This represents a 30.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.25% of the company’s stock.

StoneCo Price Performance

Shares of NASDAQ:STNE opened at $10.77 on Thursday. StoneCo Ltd. has a twelve month low of $9.45 and a twelve month high of $19.95. The company’s 50 day moving average is $11.90 and its 200 day moving average is $14.07. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.68 billion, a PE ratio of 4.31, a price-to-earnings-growth ratio of 0.20 and a beta of 1.73.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. StoneCo had a net margin of 23.82% and a return on equity of 21.05%. The company had revenue of $141.16 million for the quarter, compared to the consensus estimate of $675.11 million. On average, sell-side analysts forecast that StoneCo Ltd. will post 2.31 EPS for the current year.

StoneCo Announces Dividend

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 was Friday, April 24th.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on STNE shares. JPMorgan Chase & Co. cut their price objective on shares of StoneCo from $20.00 to $16.50 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. Citigroup downgraded shares of StoneCo from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $11.00 in a report on Friday, May 15th. UBS Group cut their price objective on shares of StoneCo from $19.50 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. BTIG Research cut their price objective on shares of StoneCo from $22.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Finally, Zacks Research upgraded shares of StoneCo from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, StoneCo currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.58.

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.