StoneX Group (NASDAQ:SNEX) Shares Gap Down on Insider Selling

Shares of StoneX Group Inc. (NASDAQ:SNEX) gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $76.02, but opened at $67.24. StoneX Group shares last traded at $69.8140, with a volume of 426,388 shares changing hands.

Specifically, Director John Moore Fowler sold 1,575 shares of StoneX Group stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $75.41, for a total transaction of $118,770.75. Following the completion of the sale, the director owned 255,271 shares of the company’s stock, valued at approximately $19,249,986.11. The trade was a 0.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Zacks Research cut shares of StoneX Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings cut StoneX Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Jefferies Financial Group downgraded StoneX Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $123.00 to $112.00 in a research report on Monday, July 20th. Finally, Wall Street Zen lowered StoneX Group from a “buy” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, StoneX Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.00.

StoneX Group Stock Performance

The stock has a 50 day simple moving average of $79.50 and a 200 day simple moving average of $74.85. The company has a current ratio of 1.82, a quick ratio of 1.33 and a debt-to-equity ratio of 1.45. The stock has a market cap of $7.94 billion, a P/E ratio of 15.72 and a beta of 0.66.

StoneX Group (NASDAQ:SNEX) last released its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.14. The firm had revenue of $718.00 million during the quarter, compared to the consensus estimate of $1.32 billion. StoneX Group had a return on equity of 20.18% and a net margin of 0.33%. On average, equities analysts expect that StoneX Group Inc. will post 4 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cassaday & Co Wealth Management LLC acquired a new position in shares of StoneX Group in the 1st quarter valued at approximately $34,000. Sterling Capital Management LLC boosted its position in shares of 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 acquiring an additional 156 shares in the last quarter. Basecamp Wealth Advisors LLC boosted its position in shares of StoneX Group by 49.7% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 512 shares of the company’s stock worth $41,000 after acquiring an additional 170 shares in the last quarter. Transamerica Financial Advisors LLC increased its stake in StoneX Group by 183.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 433 shares of the company’s stock valued at $41,000 after acquiring an additional 280 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in StoneX Group in the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

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.