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Is StoneCo Ltd. (STNE) Providing Best-In-Class Services?

Soumya Eswaran
·2 分鐘文章

Nordstern Capital, an investment management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. The firm believes that a long-term mindset and short-term cash flows will help to sustain in the current environment of risk and potential black swans. You can check the top 5 holdings of the fund to know its best picks in 2023.

Nordstern Capital highlighted stocks like StoneCo Ltd. (NASDAQ:STNE) in the first quarter 2023 investor letter. Headquartered in George Town, the Cayman Islands, StoneCo Ltd. (NASDAQ:STNE) provides financial technology and software solutions. On June 8, 2023, StoneCo Ltd. (NASDAQ:STNE) stock closed at $12.78 per share. One-month return of StoneCo Ltd. (NASDAQ:STNE) was -7.46%, and its shares gained 40.90% of their value over the last 52 weeks. StoneCo Ltd. (NASDAQ:STNE) has a market capitalization of $3.999 billion.

Nordstern Capital made the following comment about StoneCo Ltd. (NASDAQ:STNE) in its Q1 2023 investor letter:

“StoneCo Ltd. (NASDAQ:STNE): (STNE, share price increased + 1% in 1Q 2023)

The card association in Brazil have indicated that the industry should grow between 14% and 18% this year. And we expect to continue to gain market share.” - Thiago dos Santos Piao, Director and former CEO StoneCo Ltd

STNE’s transformation is progressing well. New key personnel have joined, the board and management have strengthened. Cash flows are growing, margins are increasing, the client base and market share keep expanding. The company is all set to restart its lending business in the second half of 2023.

In our view, despite all the changes, STNE still offers best-in-class service coupled with lower pricing than the industry and continues to drive high customer satisfaction…” (Click here to read the full text)

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StoneCo Ltd. (NASDAQ:STNE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held StoneCo Ltd. (NASDAQ:STNE) at the end of first quarter 2023 which was 35 in the previous quarter.

We discussed StoneCo Ltd. (NASDAQ:STNE) in another article and shared the list of best low-priced technology stocks to invest in. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.