StoneX Group (NASDAQ:SNEX) Shares Up 5.8% – Here’s Why

StoneX Group Inc. (NASDAQ:SNEX)’s stock price was up 5.8% during trading on Wednesday . The company traded as high as $94.10 and last traded at $94.2750. Approximately 38,185 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 424,838 shares. The stock had previously closed at $89.12.

Wall Street Analyst Weigh In

SNEX has been the topic of several research reports. Weiss Ratings lowered shares of StoneX Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Zacks Research lowered StoneX Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

StoneX Group Price Performance

The stock has a market capitalization of $4.75 billion, a P/E ratio of 15.50 and a beta of 0.51. The business’s 50 day simple moving average is $94.14 and its two-hundred day simple moving average is $92.72. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 1.30.

StoneX Group (NASDAQ:SNEX) last posted its earnings results on Monday, November 24th. The company reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.01). The business had revenue of $782.70 million during the quarter, compared to analyst estimates of $1.04 billion. StoneX Group had a return on equity of 16.20% and a net margin of 0.23%.During the same quarter in the prior year, the company earned $2.32 EPS. As a group, sell-side analysts forecast that StoneX Group Inc. will post 8.7 earnings per share for the current fiscal year.

Insider Buying and Selling at StoneX Group

In related news, Director John Moore Fowler sold 1,125 shares of StoneX Group stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $91.20, for a total transaction of $102,600.00. Following the transaction, the director owned 114,769 shares of the company’s stock, valued at $10,466,932.80. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On StoneX Group

A number of institutional investors and hedge funds have recently bought and sold shares of SNEX. Private Trust Co. NA boosted its holdings in StoneX Group by 2,109.1% during the 3rd quarter. Private Trust Co. NA now owns 243 shares of the company’s stock worth $25,000 after acquiring an additional 232 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of StoneX Group by 4,133.3% during the third quarter. Cornerstone Planning Group LLC now owns 254 shares of the company’s stock valued at $26,000 after purchasing an additional 248 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in StoneX Group by 1,100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 264 shares of the company’s stock worth $27,000 after purchasing an additional 242 shares during the last quarter. AlphaQuest LLC boosted its holdings in StoneX Group by 28,000.0% during the third quarter. AlphaQuest LLC now owns 281 shares of the company’s stock worth $28,000 after purchasing an additional 280 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in StoneX Group in the 3rd quarter worth about $37,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

About StoneX Group

StoneX Group Inc operates as a global financial services network that connects companies, organizations, traders, and investors to market ecosystem worldwide. The company operates through Commercial, Institutional, Retail, and Global Payments segments. The Commercial segment provides risk management and hedging, exchange-traded and OTC products execution and clearing, voice brokerage, market intelligence, physical trading, and commodity financing and logistics services.