Incline Global Management LLC Buys 33,566 Shares of StoneCo Ltd. (NASDAQ:STNE)

Incline Global Management LLC grew its stake in StoneCo Ltd. (NASDAQ:STNE) by 3.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 947,797 shares of the company’s stock after buying an additional 33,566 shares during the period. StoneCo makes up approximately 4.7% of Incline Global Management LLC’s holdings, making the stock its 3rd biggest position. Incline Global Management LLC owned about 0.31% of StoneCo worth $10,672,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STNE. Financial Perspectives Inc boosted its stake in shares of StoneCo by 8.4% during the 2nd quarter. Financial Perspectives Inc now owns 14,019 shares of the company’s stock worth $168,000 after buying an additional 1,083 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of StoneCo by 9.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 19,877 shares of the company’s stock valued at $224,000 after buying an additional 1,773 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of StoneCo by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 123,275 shares of the company’s stock valued at $1,478,000 after acquiring an additional 1,848 shares in the last quarter. Y.D. More Investments Ltd grew its position in shares of StoneCo by 90.2% in the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock worth $58,000 after buying an additional 2,275 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of StoneCo in the 1st quarter worth $41,000. 73.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

StoneCo Price Performance

Shares of StoneCo stock traded down $0.15 during trading hours on Tuesday, reaching $9.58. The company’s stock had a trading volume of 235,115 shares, compared to its average volume of 5,227,188. The stock has a market cap of $2.96 billion, a P/E ratio of 7.60, a P/E/G ratio of 0.33 and a beta of 2.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. StoneCo Ltd. has a one year low of $9.06 and a one year high of $19.46. The firm has a 50 day moving average price of $10.85 and a 200-day moving average price of $12.22.

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.