StoneX Group (NASDAQ:SNEX) Sets New 52-Week High – Here’s Why

StoneX Group Inc. (NASDAQ:SNEX) shares reached a new 52-week high during trading on Monday . The stock traded as high as $141.99 and last traded at $139.81, with a volume of 73233 shares traded. The stock had previously closed at $139.01.

Analyst Upgrades and Downgrades

SNEX has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of StoneX Group in a research note on Friday, May 22nd. Zacks Research upgraded shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. William Blair reaffirmed an “outperform” rating on shares of StoneX Group in a report on Monday, March 9th. Finally, Wall Street Zen upgraded shares of StoneX Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $122.00.

StoneX Group Stock Performance

The company has a quick ratio of 1.33, a current ratio of 1.74 and a debt-to-equity ratio of 1.27. The stock has a fifty day moving average of $113.39 and a 200-day moving average of $107.73. The stock has a market cap of $11.03 billion, a PE ratio of 24.87 and a beta of 0.64.

Shares of StoneX Group are going to split before the market opens on Monday, July 20th. The 3-2 split was announced on Tuesday, May 26th. The newly minted shares will be payable to shareholders after the market closes on Friday, July 17th.

StoneX Group (NASDAQ:SNEX) last released its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.60 by $0.47. StoneX Group had a return on equity of 19.31% and a net margin of 0.30%.The business had revenue of $826.40 million during the quarter, compared to analysts’ expectations of $1.37 billion. On average, equities analysts forecast that StoneX Group Inc. will post 6 EPS for the current year.

Insider Buying and Selling

In other StoneX Group news, CEO Philip Andrew Smith sold 30,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $92.23, for a total transaction of $2,766,900.00. Following the completion of the transaction, the chief executive officer owned 514,719 shares in the company, valued at approximately $47,472,533.37. This represents a 5.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO William J. Dunaway sold 64,017 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $110.46, for a total transaction of $7,071,317.82. Following the transaction, the chief financial officer owned 273,586 shares of the company’s stock, valued at approximately $30,220,309.56. The trade was a 18.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 712,479 shares of company stock worth $84,428,969 in the last ninety days. Insiders own 11.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SNEX. Cassaday & Co Wealth Management LLC acquired a new stake in StoneX Group in the first quarter valued at about $34,000. Sterling Capital Management LLC increased its position in StoneX Group by 48.7% during the 1st quarter. Sterling Capital Management LLC now owns 476 shares of the company’s stock worth $38,000 after purchasing an additional 156 shares during the period. Transamerica Financial Advisors LLC increased its position in StoneX Group by 183.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 433 shares of the company’s stock worth $41,000 after purchasing an additional 280 shares during the period. International Assets Investment Management LLC purchased a new position in shares of StoneX Group during the 4th quarter worth approximately $50,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of StoneX Group by 167.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 534 shares of the company’s stock worth $51,000 after buying an additional 334 shares in the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

About StoneX Group

StoneX Group Inc (NASDAQ: SNEX) is a global financial services firm offering execution, risk management, advisory and post-trade solutions across commodities, currencies, securities and digital assets. The company serves commercial businesses, institutional clients and financial intermediaries, providing market access and tailored services designed to help clients manage price risk, optimize working capital and execute complex transactions.

StoneX operates through several core segments.