StoneCo Ltd. (NASDAQ:STNE) is Incline Global Management LLC’s 3rd Largest Position

Incline Global Management LLC increased its stake in StoneCo Ltd. (NASDAQ:STNE) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 947,797 shares of the company’s stock after buying an additional 33,566 shares during the period. StoneCo comprises about 4.7% of Incline Global Management LLC’s investment portfolio, making the stock its 3rd largest position. Incline Global Management LLC’s holdings in StoneCo were worth $10,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Central Bank & Trust Co. bought a new stake in shares of StoneCo in the second quarter valued at approximately $40,000. Lazard Asset Management LLC bought a new stake in StoneCo in the 1st quarter valued at $41,000. Y.D. More Investments Ltd lifted its position in shares of StoneCo by 90.2% during the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after acquiring an additional 2,275 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in StoneCo in the 3rd quarter worth about $125,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of StoneCo during the second quarter worth about $135,000. Institutional investors own 73.19% of the company’s stock.

StoneCo Trading Down 1.5 %

STNE traded down $0.15 on Tuesday, hitting $9.58. 235,115 shares of the company were exchanged, compared to its average volume of 5,227,188. The stock has a market capitalization of $2.96 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 0.33 and a beta of 2.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a fifty day simple moving average of $10.85 and a two-hundred day simple moving average of $12.22. StoneCo Ltd. has a 12 month low of $9.06 and a 12 month high of $19.46.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on STNE shares. UBS Group lifted their price objective on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Cantor Fitzgerald raised StoneCo to a “strong-buy” rating in a report on Thursday, October 3rd. Susquehanna dropped their price objective on StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a research note on Wednesday, November 13th. Morgan Stanley restated an “underweight” rating and set a $7.00 price objective (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Finally, Barclays dropped their price target on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.89.

StoneCo Company 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.