Canton Hathaway LLC raised its position in shares of StoneCo Ltd (NASDAQ:STNE) by 5.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,494 shares of the company’s stock after purchasing an additional 2,589 shares during the quarter. StoneCo accounts for approximately 0.9% of Canton Hathaway LLC’s holdings, making the stock its 13th biggest position. Canton Hathaway LLC’s holdings in StoneCo were worth $1,652,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Castle Rock Wealth Management LLC grew its stake in shares of StoneCo by 9.3% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 10,359 shares of the company’s stock valued at $309,000 after acquiring an additional 883 shares during the period. Focused Wealth Management Inc purchased a new position in shares of StoneCo in the second quarter worth about $30,000. Tortoise Index Solutions LLC raised its stake in shares of StoneCo by 210.8% in the second quarter. Tortoise Index Solutions LLC now owns 1,691 shares of the company’s stock worth $50,000 after purchasing an additional 1,147 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of StoneCo by 109.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,214 shares of the company’s stock worth $65,000 after purchasing an additional 1,156 shares during the last quarter. Finally, US Bancorp DE purchased a new position in shares of StoneCo in the second quarter worth about $36,000. Institutional investors and hedge funds own 41.93% of the company’s stock.
STNE stock traded up $0.67 during trading on Friday, hitting $34.58. 718,739 shares of the company traded hands, compared to its average volume of 2,646,905. The stock’s 50-day simple moving average is $33.15 and its 200 day simple moving average is $31.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $9.63 billion and a PE ratio of 104.79. StoneCo Ltd has a 1 year low of $16.14 and a 1 year high of $45.62.
StoneCo (NASDAQ:STNE) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $149.52 million during the quarter. StoneCo had a return on equity of 10.16% and a net margin of 27.40%. Research analysts expect that StoneCo Ltd will post 0.73 earnings per share for the current year.
Several brokerages have recently issued reports on STNE. Zacks Investment Research cut StoneCo from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised their price objective on StoneCo from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Credit Suisse Group upgraded StoneCo from a “neutral” rating to an “outperform” rating in a research note on Monday, July 22nd. Guggenheim began coverage on StoneCo in a research report on Tuesday, September 3rd. They set a “buy” rating and a $38.00 price target for the company. Finally, ValuEngine cut StoneCo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. StoneCo has an average rating of “Hold” and an average target price of $35.89.
StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.
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