SG Americas Securities LLC Invests $597,000 in StoneCo Ltd. (NASDAQ:STNE)

SG Americas Securities LLC bought a new position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 56,951 shares of the company's stock, valued at approximately $597,000.

A number of other hedge funds also recently made changes to their positions in STNE. Rhumbline Advisers raised its stake in shares of StoneCo by 3.2% during the 4th quarter. Rhumbline Advisers now owns 440,522 shares of the company's stock worth $3,511,000 after purchasing an additional 13,605 shares during the period. Sanctuary Advisors LLC raised its stake in shares of StoneCo by 29.3% during the 4th quarter. Sanctuary Advisors LLC now owns 19,633 shares of the company's stock worth $156,000 after purchasing an additional 4,446 shares during the period. Bank of New York Mellon Corp raised its stake in shares of StoneCo by 1.6% during the 4th quarter. Bank of New York Mellon Corp now owns 987,125 shares of the company's stock worth $7,867,000 after purchasing an additional 15,200 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of StoneCo during the 4th quarter worth $101,000. Finally, Metis Global Partners LLC bought a new stake in shares of StoneCo during the 4th quarter worth $115,000. 73.19% of the stock is currently owned by institutional investors.

StoneCo Price Performance

Shares of STNE traded down $0.34 during midday trading on Friday, hitting $14.52. 4,763,923 shares of the company traded hands, compared to its average volume of 5,776,545. The stock has a 50-day moving average of $13.55 and a 200-day moving average of $10.83. StoneCo Ltd. has a one year low of $7.72 and a one year high of $15.27. The firm has a market cap of $4.15 billion, a P/E ratio of -18.62, a PEG ratio of 0.39 and a beta of 1.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.39 and a quick ratio of 1.39.

StoneCo (NASDAQ:STNE - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. StoneCo had a positive return on equity of 16.65% and a negative net margin of 8.90%. The company had revenue of $625.86 million during the quarter, compared to analyst estimates of $3.68 billion. As a group, sell-side analysts predict that StoneCo Ltd. will post 1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

STNE has been the topic of a number of recent analyst reports. Wall Street Zen cut StoneCo from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Santander upgraded StoneCo from a "neutral" rating to an "outperform" rating in a research note on Wednesday, May 21st. Barclays boosted their price objective on StoneCo from $13.00 to $15.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Wells Fargo & Company upgraded StoneCo from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, March 19th. Finally, Morgan Stanley boosted their price objective on StoneCo from $5.70 to $6.00 and gave the company an "underweight" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $15.63.

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.