GAMMA Investing LLC Buys 2,720 Shares of StoneCo Ltd. (NASDAQ:STNE)

GAMMA Investing LLC lifted its stake in StoneCo Ltd. (NASDAQ:STNE) by 1,486.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,903 shares of the company’s stock after purchasing an additional 2,720 shares during the period. GAMMA Investing LLC’s holdings in StoneCo were worth $30,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in STNE. Bank of New York Mellon Corp raised its position in shares of StoneCo by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 987,125 shares of the company’s stock worth $7,867,000 after purchasing an additional 15,200 shares during the period. Proficio Capital Partners LLC acquired a new stake in StoneCo during the 4th quarter worth approximately $101,000. Jones Financial Companies Lllp raised its holdings in StoneCo by 254.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company’s stock worth $34,000 after buying an additional 3,056 shares during the period. Raymond James Financial Inc. acquired a new stake in StoneCo during the 4th quarter worth approximately $132,000. Finally, Amundi raised its holdings in StoneCo by 3.0% during the 4th quarter. Amundi now owns 313,317 shares of the company’s stock worth $2,497,000 after buying an additional 9,263 shares during the period. Institutional investors and hedge funds own 73.19% of the company’s stock.

Wall Street Analysts Forecast Growth

STNE has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of StoneCo from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Citigroup raised StoneCo from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $15.00 in a research note on Tuesday, April 22nd. Santander raised StoneCo from a “neutral” rating to an “outperform” rating in a research report on Wednesday, May 21st. Morgan Stanley lifted their target price on StoneCo from $5.70 to $6.00 and gave the company an “underweight” rating in a research report on Friday, March 21st. Finally, Wall Street Zen downgraded shares of StoneCo from a “buy” rating to a “hold” rating in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.57.

StoneCo Price Performance

Shares of STNE opened at $15.47 on Friday. The company has a market cap of $4.42 billion, a price-to-earnings ratio of -19.83, a PEG ratio of 0.44 and a beta of 1.94. StoneCo Ltd. has a 1-year low of $7.72 and a 1-year high of $16.68. The company’s fifty day simple moving average is $14.38 and its 200 day simple moving average is $11.54. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.74.

StoneCo (NASDAQ:STNE) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $625.86 million for the quarter, compared to analyst estimates of $3.68 billion. StoneCo had a negative net margin of 8.90% and a positive return on equity of 16.65%. On average, research analysts forecast that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

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.