Rhumbline Advisers Acquires 5,691 Shares of StoneCo Ltd. (NASDAQ:STNE)

Rhumbline Advisers grew its stake in StoneCo Ltd. (NASDAQ:STNE) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 432,880 shares of the company’s stock after acquiring an additional 5,691 shares during the quarter. Rhumbline Advisers owned 0.14% of StoneCo worth $5,190,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC lifted its holdings in shares of StoneCo by 4.2% during the 4th quarter. Private Advisor Group LLC now owns 32,874 shares of the company’s stock valued at $593,000 after buying an additional 1,329 shares during the period. Charles Schwab Investment Management Inc. boosted its position in StoneCo by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,183,574 shares of the company’s stock worth $21,340,000 after purchasing an additional 36,030 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of StoneCo during the 4th quarter valued at about $266,000. Independent Advisor Alliance purchased a new stake in shares of StoneCo during the 4th quarter valued at about $651,000. Finally, TrinityPoint Wealth LLC lifted its stake in shares of StoneCo by 11.1% in the 4th quarter. TrinityPoint Wealth LLC now owns 11,696 shares of the company’s stock worth $211,000 after purchasing an additional 1,167 shares during the period. 73.19% of the stock is owned by hedge funds and other institutional investors.

StoneCo Stock Performance

Shares of NASDAQ:STNE opened at $12.24 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.43 and a beta of 2.31. StoneCo Ltd. has a 12 month low of $9.34 and a 12 month high of $19.46. The firm’s 50-day moving average is $13.08 and its 200 day moving average is $14.35.

StoneCo (NASDAQ:STNE) last issued its earnings results on Wednesday, August 14th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). The company had revenue of $615.13 million for the quarter, compared to analysts’ expectations of $590.74 million. StoneCo had a net margin of 15.27% and a return on equity of 13.21%. Research analysts predict that StoneCo Ltd. will post 1.1 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on STNE. UBS Group boosted their target price on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley restated an “underweight” rating and issued a $7.00 price target (down previously from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. The Goldman Sachs Group lowered their price objective on StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. JPMorgan Chase & Co. raised shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Thursday, June 6th. Finally, Barclays lowered their price target on shares of StoneCo from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.80.

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.