StoneX Group (NASDAQ:SNEX) Hits New 1-Year High – Should You Buy?

Shares of StoneX Group Inc. (NASDAQ:SNEX) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $125.93 and last traded at $124.15, with a volume of 113627 shares traded. The stock had previously closed at $122.09.

Analysts Set New Price Targets

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

StoneX Group Stock Up 4.0%

The company has a 50 day simple moving average of $107.49 and a two-hundred day simple moving average of $105.79. 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 company has a market capitalization of $10.28 billion, a P/E ratio of 23.18 and a beta of 0.64.

Shares of StoneX Group are set 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 distributed to shareholders after the market closes on Friday, July 17th.

StoneX Group (NASDAQ:SNEX) last announced its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.37 billion. As a group, equities analysts predict that StoneX Group Inc. will post 6 EPS for the current year.

Insider Buying and Selling at StoneX Group

In other StoneX Group news, CEO Philip Andrew Smith sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was 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 $47,472,533.37. The trade was a 5.51% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Sean Michael Oconnor sold 140,070 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $110.31, for a total value of $15,451,121.70. Following the transaction, the chairman owned 1,236,921 shares of the company’s stock, valued at $136,444,755.51. This trade 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. Over the last ninety days, insiders have sold 442,129 shares of company stock valued at $48,468,074. 11.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AlphaQuest LLC boosted its position in shares of StoneX Group by 28,000.0% during the third quarter. AlphaQuest LLC now owns 281 shares of the company’s stock valued at $28,000 after buying an additional 280 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of StoneX Group in the first quarter valued at approximately $34,000. Sterling Capital Management LLC boosted its holdings in shares of StoneX Group by 48.8% in the first quarter. Sterling Capital Management LLC now owns 476 shares of the company’s stock valued at $38,000 after purchasing an additional 156 shares during the period. Transamerica Financial Advisors LLC boosted its holdings in shares of 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 purchasing an additional 280 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of StoneX Group in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors 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.