The Manufacturers Life Insurance Company Purchases 23,167 Shares of StoneCo Ltd. (NASDAQ:STNE)

The Manufacturers Life Insurance Company boosted its stake in StoneCo Ltd. (NASDAQ:STNE) by 18.8% in the 3rd quarter, Holdings Channel reports. The firm owned 146,442 shares of the company’s stock after acquiring an additional 23,167 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in StoneCo were worth $1,649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Financial Perspectives Inc lifted its position in StoneCo by 8.4% in the second quarter. Financial Perspectives Inc now owns 14,019 shares of the company’s stock valued at $168,000 after purchasing an additional 1,083 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings 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 acquiring an additional 1,773 shares during the last quarter. Y.D. More Investments Ltd lifted its stake 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 purchasing an additional 2,275 shares during the period. AlphaMark Advisors LLC raised its stake in StoneCo by 15.4% during the 2nd quarter. AlphaMark Advisors LLC now owns 19,496 shares of the company’s stock worth $234,000 after acquiring an additional 2,608 shares during the period. Finally, Atria Investments Inc raised its position in shares of StoneCo by 19.0% during the third quarter. Atria Investments Inc now owns 20,258 shares of the company’s stock valued at $228,000 after buying an additional 3,241 shares during the last quarter. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

StoneCo Stock Up 0.2 %

Shares of NASDAQ:STNE opened at $9.18 on Tuesday. The firm has a market cap of $2.84 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 0.32 and a beta of 2.21. StoneCo Ltd. has a 12-month low of $9.06 and a 12-month high of $19.46. The company has a fifty day simple moving average of $10.66 and a 200 day simple moving average of $12.03. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on STNE shares. Barclays lowered their target price on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Susquehanna lowered their price objective on StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research report on Wednesday, November 13th. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. UBS Group upped 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. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $7.00 target price (down from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. One investment 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.89.

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.