Magnetar Financial LLC Makes New $1.64 Million Investment in StoneCo Ltd. (NASDAQ:STNE)

Magnetar Financial LLC purchased a new position in shares of StoneCo Ltd. (NASDAQ:STNE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 137,013 shares of the company’s stock, valued at approximately $1,643,000.

A number of other hedge funds have also recently made changes to their positions in the business. Central Bank & Trust Co. purchased a new position in StoneCo in the 2nd quarter worth $40,000. Lazard Asset Management LLC purchased a new position in shares of StoneCo in the first quarter worth about $41,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of StoneCo by 152.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock valued at $58,000 after acquiring an additional 2,110 shares during the last quarter. Y.D. More Investments Ltd boosted its holdings in 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. Finally, nVerses Capital LLC bought a new position in StoneCo during the 2nd quarter worth approximately $137,000. 73.19% of the stock is currently owned by institutional investors.

StoneCo Stock Down 1.7 %

Shares of NASDAQ:STNE opened at $11.11 on Tuesday. The firm has a market capitalization of $3.49 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.44 and a beta of 2.31. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a 50 day moving average price of $12.92 and a 200-day moving average price of $14.15. StoneCo Ltd. has a 52-week low of $9.34 and a 52-week high of $19.46.

StoneCo (NASDAQ:STNE) last posted its quarterly earnings data 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). StoneCo had a return on equity of 13.21% and a net margin of 15.27%. The firm had revenue of $615.13 million during the quarter, compared to the consensus estimate of $590.74 million. As a group, equities research analysts anticipate that StoneCo Ltd. will post 1.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on STNE shares. Morgan Stanley restated an “underweight” rating and issued a $7.00 target price (down previously from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Evercore ISI decreased their price objective on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. JPMorgan Chase & Co. raised shares of 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. The Goldman Sachs Group cut their target price on StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Finally, UBS Group upped their price target on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.80.

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.