Rhumbline Advisers Decreases Stake in StoneCo Ltd. $STNE

Key Points

• Rhumbline Advisers decreased its stake in StoneCo Ltd. by 4.7% during the first quarter, owning 419,883 shares worth approximately $4.4 million by the end of the quarter.
• StoneCo reported an EPS of $0.39, exceeding analyst expectations of $0.36, with revenues of $643.82 million for the quarter.
• Multiple brokerages have rated StoneCo positively, with Bank of America raising its target price from $15.00 to $25.00 and giving a "buy" rating.

Rhumbline Advisers trimmed its holdings in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 419,883 shares of the company's stock after selling 20,639 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of StoneCo worth $4,400,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Strs Ohio purchased a new stake in shares of StoneCo in the first quarter worth approximately $70,000. Intech Investment Management LLC grew its stake in StoneCo by 10.5% in the first quarter. Intech Investment Management LLC now owns 180,665 shares of the company's stock worth $1,893,000 after purchasing an additional 17,192 shares in the last quarter. Atmos Capital Gestao DE Recursos LTDA. grew its stake in StoneCo by 3.1% in the first quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 11,982,873 shares of the company's stock worth $125,581,000 after purchasing an additional 359,037 shares in the last quarter. PenderFund Capital Management Ltd. bought a new position in StoneCo in the first quarter worth approximately $1,572,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in StoneCo by 65.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,742 shares of the company's stock worth $15,887,000 after purchasing an additional 599,313 shares in the last quarter. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

StoneCo Price Performance

Shares of StoneCo stock opened at $18.29 on Monday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.76. StoneCo Ltd. has a twelve month low of $7.72 and a twelve month high of $18.40. The business has a 50-day moving average price of $15.15 and a 200 day moving average price of $13.53. The firm has a market cap of $5.23 billion, a PE ratio of -26.13, a P/E/G ratio of 0.39 and a beta of 1.91.

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

Analyst Ratings Changes

Several brokerages have issued reports on STNE. Bank of America increased their target price on StoneCo from $15.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. JPMorgan Chase & Co. increased their target price on StoneCo from $15.50 to $18.50 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. UBS Group increased their target price on StoneCo from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Wall Street Zen cut StoneCo from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Zacks Research raised StoneCo to a "strong-buy" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $16.56.

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.

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