StoneX Group (NASDAQ:SNEX) Trading Down 11.8% – Should You Sell?

StoneX Group Inc. (NASDAQ:SNEX) shares dropped 11.8% on Monday . The company traded as low as $122.51 and last traded at $119.3790. 730,474 shares traded hands during mid-day trading, an increase of 0% from the average daily volume of 729,639 shares. The stock had previously closed at $135.42.

Analysts Set New Price Targets

A number of equities analysts have commented on SNEX shares. Weiss Ratings raised shares of StoneX Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Wall Street Zen upgraded shares of StoneX Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. Zacks Research upgraded shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of StoneX Group in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from 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 market cap of $9.39 billion, a P/E ratio of 21.17 and a beta of 0.64. The stock has a 50 day moving average price of $117.78 and a two-hundred day moving average price of $109.62. The company has a quick ratio of 1.33, a current ratio of 1.74 and a debt-to-equity ratio of 1.27.

StoneX Group shares are scheduled to split on Monday, July 20th. The 3-2 split was announced on Tuesday, May 26th. The newly minted shares will be issued 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.47. The business had revenue of $826.40 million during the quarter, compared to the consensus estimate of $1.37 billion. StoneX Group had a return on equity of 19.31% and a net margin of 0.30%. On average, research analysts predict that StoneX Group Inc. will post 6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Annabelle G. Bexiga sold 1,500 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $133.36, for a total value of $200,040.00. Following the transaction, the director directly owned 20,188 shares in the company, valued at approximately $2,692,271.68. This represents a 6.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Lowry Maurer sold 11,542 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $133.63, for a total transaction of $1,542,357.46. Following the transaction, the insider directly owned 135,496 shares in the company, valued at approximately $18,106,330.48. This represents a 7.85% 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 a total of 712,479 shares of company stock valued at $84,428,969 in the last 90 days. 11.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On StoneX Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. increased its holdings in shares of StoneX Group by 1,562.1% during the fourth quarter. Bessemer Group Inc. now owns 164,249 shares of the company’s stock worth $15,626,000 after buying an additional 154,367 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in StoneX Group by 18,363.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,772 shares of the company’s stock worth $2,547,000 after acquiring an additional 26,627 shares during the last quarter. Leuthold Group LLC increased its holdings in StoneX Group by 834.0% in the 4th quarter. Leuthold Group LLC now owns 30,487 shares of the company’s stock worth $2,900,000 after purchasing an additional 27,223 shares in the last quarter. Vanguard Group Inc. increased its holdings in StoneX Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 4,031,545 shares of the company’s stock worth $383,521,000 after purchasing an additional 11,240 shares in the last quarter. Finally, Tweedy Browne Co LLC bought a new position in StoneX Group in the third quarter valued at about $1,961,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

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.