Zacks Research Upgrades StoneX Group (NASDAQ:SNEX) to “Strong-Buy”

StoneX Group (NASDAQ:SNEX) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “hold (c+)” rating on shares of StoneX Group in a research report on Monday, December 29th. Wall Street Zen raised StoneX Group from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Jefferies Financial Group raised their target price on StoneX Group from $99.00 to $122.00 and gave the company a “buy” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $122.00.

StoneX Group Price Performance

Shares of SNEX stock traded up $0.64 on Monday, reaching $126.25. 31,107 shares of the company were exchanged, compared to its average volume of 351,722. StoneX Group has a 1 year low of $65.00 and a 1 year high of $127.99. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.34 and a current ratio of 1.80. The business has a 50-day moving average price of $103.44 and a 200 day moving average price of $97.87. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 18.71 and a beta of 0.45.

Shares of StoneX Group are set to split on the morning of Monday, March 23rd. The 3-2 split was announced on Thursday, February 5th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, March 10th.

StoneX Group (NASDAQ:SNEX) last released its earnings results on Wednesday, February 4th. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.44. The business had revenue of $724.00 million for the quarter, compared to analyst estimates of $1.24 billion. StoneX Group had a net margin of 0.25% and a return on equity of 16.43%. Equities research analysts forecast that StoneX Group will post 8.7 earnings per share for the current fiscal year.

Insider Transactions at StoneX Group

In other news, President Charles M. Lyon sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $124.78, for a total transaction of $3,743,400.00. Following the completion of the sale, the president owned 150,330 shares in the company, valued at $18,758,177.40. This represents a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Moore Fowler sold 1,125 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $112.70, for a total transaction of $126,787.50. Following the transaction, the director owned 113,765 shares of the company’s stock, valued at approximately $12,821,315.50. The trade was a 0.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 36,979 shares of company stock worth $4,426,657 in the last three months. Corporate insiders own 11.79% of the company’s stock.

Hedge Funds Weigh In On StoneX Group

Large investors have recently made changes to their positions in the stock. Private Trust Co. NA raised its stake in shares of StoneX Group by 2,109.1% during the 3rd quarter. Private Trust Co. NA now owns 243 shares of the company’s stock worth $25,000 after buying an additional 232 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in StoneX Group by 4,133.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 254 shares of the company’s stock valued at $26,000 after acquiring an additional 248 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of StoneX Group by 1,100.0% in the third quarter. Cullen Frost Bankers Inc. now owns 264 shares of the company’s stock valued at $27,000 after purchasing an additional 242 shares in the last quarter. AlphaQuest LLC grew its position in shares of StoneX Group by 28,000.0% in the third quarter. AlphaQuest LLC now owns 281 shares of the company’s stock valued at $28,000 after purchasing an additional 280 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in shares of StoneX Group during the 3rd quarter worth approximately $37,000. 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.