StoneX Group (NASDAQ:SNEX) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of StoneX Group (NASDAQ:SNEX) from a buy rating to a hold rating in a research report report published on Saturday morning.

A number of other research analysts have also recently issued reports on SNEX. Jefferies Financial Group cut shares of StoneX Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $123.00 to $112.00 in a research note on Monday, July 20th. Zacks Research cut StoneX Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Weiss Ratings lowered StoneX Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $112.00.

StoneX Group Stock Performance

SNEX opened at $65.84 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.33 and a current ratio of 1.82. StoneX Group has a 52-week low of $36.45 and a 52-week high of $94.66. The firm has a market cap of $7.94 billion, a P/E ratio of 15.72 and a beta of 0.66. The business’s fifty day moving average is $79.50 and its 200-day moving average is $74.85.

StoneX Group (NASDAQ:SNEX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.14. StoneX Group had a net margin of 0.33% and a return on equity of 20.18%. The business had revenue of $718.00 million during the quarter, compared to analysts’ expectations of $1.32 billion. Sell-side analysts expect that StoneX Group will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Philip Andrew Smith sold 77,310 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $79.15, for a total value of $6,118,828.80. Following the completion of the transaction, the chief executive officer owned 738,216 shares of the company’s stock, valued at $58,427,335.68. This represents a 9.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Sean Michael Oconnor sold 210,105 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $73.54, for a total transaction of $15,451,121.70. Following the completion of the sale, the chairman owned 1,855,381 shares in the company, valued at $136,444,718.74. This represents a 10.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,456,602 shares of company stock worth $114,197,648 in the last three months. 11.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On StoneX Group

Several hedge funds have recently modified their holdings of SNEX. Choreo LLC raised its position in StoneX Group by 4.5% in the fourth quarter. Choreo LLC now owns 2,764 shares of the company’s stock valued at $270,000 after purchasing an additional 118 shares during the last quarter. Lido Advisors LLC increased its stake in shares of StoneX Group by 3.2% in the fourth quarter. Lido Advisors LLC now owns 4,050 shares of the company’s stock valued at $403,000 after buying an additional 125 shares during the period. Maryland State Retirement & Pension System increased its stake in shares of StoneX Group by 2.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 6,818 shares of the company’s stock valued at $649,000 after buying an additional 144 shares during the period. Sterling Capital Management LLC raised its holdings in StoneX Group by 48.7% in the 1st quarter. Sterling Capital Management LLC now owns 476 shares of the company’s stock valued at $38,000 after buying an additional 156 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in StoneX Group by 5.8% in the 4th quarter. Corient Private Wealth LLC now owns 2,993 shares of the company’s stock valued at $285,000 after buying an additional 163 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

StoneX Group Company Profile

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.