Do You Believe in the Long-Term Potential of StoneCo Ltd. (STNE)?

Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 13.99% compared to the MSCI All Country World Index’s 11.03% return. The fund returned 24.96% for the full year compared to the 22.20% return for the index. You can check the top 5 holdings of the fund to know its best picks in 2023.

Ave Maria World Equity Fund featured stocks like StoneCo Ltd. (NASDAQ:STNE) in the fourth quarter 2023 investor letter. Headquartered in George Town, the Cayman Islands, StoneCo Ltd. (NASDAQ:STNE) provides financial technology and software solutions. On March 11, 2024, StoneCo Ltd. (NASDAQ:STNE) stock closed at $16.96 per share. The one-month return of StoneCo Ltd. (NASDAQ:STNE) was -0.35%, and its shares gained 86.58% of their value over the last 52 weeks. StoneCo Ltd. (NASDAQ:STNE) has a market capitalization of $5.329 billion.

Ave Maria World Equity Fund stated the following regarding StoneCo Ltd. (NASDAQ:STNE) in its fourth quarter 2023 investor letter:

StoneCo Ltd. (NASDAQ:STNE) provides solutions that enable merchants and integrated partners to conduct electronic commerce seamlessly across in-store, online, and mobile channels in Brazil. StoneCo has faced near-term operational challenges because of the pandemic and high levels of inflation in Brazil. The company appears to be moving past these challenges and it appears that the successful integration of the newly acquired software business with its payments business will drive substantial shareholder value longer term.”

A team of software engineers in a digital workspace collaborating on a financial technology software solution.

StoneCo Ltd. (NASDAQ:STNE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, StoneCo Ltd. (NASDAQ:STNE) was held by 37 hedge fund portfolios, compared to 32 in the previous quarter, according to our database.

We discussed StoneCo Ltd. (NASDAQ:STNE) in another article and shared the list of stocks that will double in 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

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