Punch & Associates Investment Management Inc. Invests $82.25 Million in StoneX Group Inc. $SNEX

Punch & Associates Investment Management Inc. acquired a new stake in StoneX Group Inc. (NASDAQ:SNEX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 694,090 shares of the company’s stock, valued at approximately $82,250,000. StoneX Group accounts for 4.1% of Punch & Associates Investment Management Inc.’s portfolio, making the stock its biggest holding. Punch & Associates Investment Management Inc. owned 0.58% of StoneX Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SNEX. Lido Advisors LLC raised its stake in StoneX Group by 3.2% during the 4th quarter. Lido Advisors LLC now owns 4,050 shares of the company’s stock valued at $403,000 after purchasing an additional 125 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of StoneX Group by 2.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 6,818 shares of the company’s stock worth $649,000 after purchasing an additional 144 shares during the period. Sterling Capital Management LLC increased its holdings 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 purchasing an additional 156 shares during the period. Corient Private Wealth LLC raised its position in shares of StoneX Group by 5.8% during the fourth 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. Finally, The Manufacturers Life Insurance Company raised its position in shares of StoneX Group by 0.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 24,727 shares of the company’s stock valued at $2,352,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

StoneX Group Trading Down 0.6%

Shares of SNEX opened at $69.24 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.39 and a debt-to-equity ratio of 1.45. The stock has a market cap of $8.35 billion, a PE ratio of 16.53 and a beta of 0.66. StoneX Group Inc. has a 1 year low of $36.45 and a 1 year high of $94.66. The stock has a 50 day simple moving average of $75.87 and a 200-day simple moving average of $74.28.

StoneX Group (NASDAQ:SNEX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.86 by $0.14. StoneX Group had a return on equity of 20.18% and a net margin of 0.33%.The business had revenue of $718.00 million for the quarter, compared to analyst estimates of $1.32 billion. On average, sell-side analysts predict that StoneX Group Inc. will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Mark Lowry Maurer sold 52,648 shares of StoneX Group stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $66.25, for a total transaction of $3,487,930.00. Following the completion of the transaction, the insider directly owned 236,964 shares of the company’s stock, valued at $15,698,865. This trade represents a 18.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO William J. Dunaway sold 96,490 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $66.35, for a total transaction of $6,402,111.50. Following the completion of the transaction, the chief financial officer owned 502,203 shares in the company, valued at approximately $33,321,169.05. This trade represents a 16.12% decrease in their ownership of the stock. 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 have sold 1,002,340 shares of company stock worth $79,453,640 in the last three months. Company insiders own 11.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SNEX shares. Jefferies Financial Group downgraded StoneX Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $123.00 to $112.00 in a research report on Monday, July 20th. Weiss Ratings downgraded StoneX Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Wall Street Zen lowered StoneX Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Zacks Research upgraded StoneX Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, StoneX Group presently has an average rating of “Buy” and an average price target of $112.00.

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.