PenderFund Capital Management Ltd. Purchases Shares of 150,000 StoneCo Ltd. $STNE

Key Points

• PenderFund Capital Management Ltd. has acquired a **$1.57 million** stake in **StoneCo Ltd.**, purchasing **150,000 shares** of the company.
• Institutional investors and hedge funds now own **73.19%** of StoneCo's stock, reflecting increased interest from the investment community.
• Analysts have mixed evaluations on StoneCo, with ratings ranging from **"strong buy"** to **"sell"**, and an average target price of **$15.36**.

PenderFund Capital Management Ltd. acquired a new stake in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 150,000 shares of the company's stock, valued at approximately $1,572,000. PenderFund Capital Management Ltd. owned about 0.05% of StoneCo at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of STNE. Signaturefd LLC increased its holdings in StoneCo by 13.6% in the first quarter. Signaturefd LLC now owns 7,708 shares of the company's stock valued at $81,000 after buying an additional 924 shares during the last quarter. Xponance Inc. grew its position in shares of StoneCo by 4.7% in the 1st quarter. Xponance Inc. now owns 21,762 shares of the company's stock worth $228,000 after acquiring an additional 981 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of StoneCo by 18.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,473 shares of the company's stock worth $89,000 after acquiring an additional 1,317 shares in the last quarter. CWM LLC increased its holdings in shares of StoneCo by 327.4% in the 1st quarter. CWM LLC now owns 3,154 shares of the company's stock valued at $33,000 after acquiring an additional 2,416 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of StoneCo by 143.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,614 shares of the company's stock valued at $48,000 after acquiring an additional 2,715 shares in the last quarter. 73.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STNE has been the subject of a number of research reports. Zacks Research raised shares of StoneCo to a "strong-buy" rating in a report on Tuesday, August 12th. Bank of America lifted their price target on shares of StoneCo from $15.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday. Wall Street Zen lowered shares of StoneCo from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. raised their target price on shares of StoneCo from $15.50 to $18.50 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, UBS Group upped their target price on StoneCo from $15.00 to $20.00 and gave the company a "buy" rating in a report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, StoneCo currently has an average rating of "Moderate Buy" and a consensus price target of $16.56.

StoneCo Stock Performance

STNE stock traded up $0.50 on Thursday, reaching $18.12. The company's stock had a trading volume of 4,035,491 shares, compared to its average volume of 5,914,769. StoneCo Ltd. has a 52 week low of $7.72 and a 52 week high of $18.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $5.18 billion, a P/E ratio of -25.89, a price-to-earnings-growth ratio of 0.47 and a beta of 1.91. The firm has a fifty day moving average of $15.07 and a two-hundred day moving average of $13.35.

StoneCo (NASDAQ:STNE - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.03. The company had revenue of $643.82 million during the quarter, compared to analyst estimates of $3.78 billion. StoneCo had a positive return on equity of 18.71% and a negative net margin of 8.37%. As a group, analysts predict that StoneCo Ltd. will post 1.16 EPS for the current fiscal year.

StoneCo Profile

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.