Accel Wealth Management Raises Stock Holdings in StoneCo Ltd. (NASDAQ:STNE)

Accel Wealth Management boosted its stake in StoneCo Ltd. (NASDAQ:STNE) by 16.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,535 shares of the company’s stock after buying an additional 4,850 shares during the period. Accel Wealth Management’s holdings in StoneCo were worth $557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. acquired a new position in shares of StoneCo during the fourth quarter worth about $26,000. USA Financial Formulas acquired a new position in shares of StoneCo during the fourth quarter worth about $26,000. Headlands Technologies LLC acquired a new position in shares of StoneCo during the fourth quarter worth about $56,000. Tucker Asset Management LLC acquired a new position in shares of StoneCo during the third quarter worth about $60,000. Finally, PNC Financial Services Group Inc. grew its position in shares of StoneCo by 42.4% during the third quarter. PNC Financial Services Group Inc. now owns 9,869 shares of the company’s stock worth $105,000 after buying an additional 2,940 shares in the last quarter. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

StoneCo Stock Performance

Shares of StoneCo stock traded up $0.32 during trading hours on Thursday, hitting $12.11. 2,271,520 shares of the company were exchanged, compared to its average volume of 5,394,470. The business has a 50-day moving average of $14.00 and a 200-day moving average of $15.98. StoneCo Ltd. has a 1 year low of $9.34 and a 1 year high of $19.46. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.31 and a beta of 2.33. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings data on Monday, May 13th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. StoneCo had a return on equity of 12.35% and a net margin of 14.08%. The firm had revenue of $623.12 million for the quarter, compared to analyst estimates of $633.35 million. As a group, analysts expect that StoneCo Ltd. will post 1.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

STNE has been the subject of several recent analyst reports. Barclays decreased their target price on StoneCo from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, May 20th. Susquehanna decreased their target price on StoneCo from $23.00 to $22.00 and set a “positive” rating for the company in a research note on Friday, April 19th. Evercore ISI decreased their target price on StoneCo from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. JPMorgan Chase & Co. upgraded StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Thursday, June 6th. Finally, Citigroup boosted their price objective on StoneCo from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.56.

About StoneCo

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.