StoneX Group (NASDAQ:SNEX) Sets New 1-Year High – Here’s What Happened

StoneX Group Inc. (NASDAQ:SNEX) hit a new 52-week high on Wednesday . The stock traded as high as $91.87 and last traded at $91.51, with a volume of 244530 shares changing hands. The stock had previously closed at $86.89.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Zacks Research cut StoneX Group from a “strong-buy” rating to a “hold” rating in a report on Monday. Weiss Ratings upgraded StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Jefferies Financial Group raised their price objective on StoneX Group from $99.00 to $122.00 and gave the company a “buy” rating in a report on Monday, February 2nd. William Blair restated an “outperform” rating on shares of StoneX Group in a report on Monday, March 9th. Finally, Wall Street Zen upgraded StoneX Group from a “hold” rating to a “buy” rating in a report on Sunday. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.00.

StoneX Group Price Performance

The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 20.51 and a beta of 0.42. The company’s 50 day moving average is $108.75 and its 200-day moving average is $100.91. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 1.34.

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

Insiders Place Their Bets

In related news, President Charles M. Lyon sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $124.78, for a total value of $3,743,400.00. Following the completion of the sale, the president directly owned 150,330 shares in the company, valued at approximately $18,758,177.40. This trade represents a 16.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Annabelle G. Bexiga sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $106.54, for a total transaction of $106,540.00. Following the completion of the sale, the director owned 16,459 shares of the company’s stock, valued at $1,753,541.86. This trade represents a 5.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 120,125 shares of company stock worth $14,983,688 in the last three months. Insiders own 11.79% of the company’s stock.

Institutional Investors Weigh In On StoneX Group

Hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its position in StoneX Group by 1,708.4% during the third quarter. Commonwealth Equity Services LLC now owns 72,823 shares of the company’s stock worth $7,349,000 after acquiring an additional 68,796 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new stake in StoneX Group during the third quarter worth approximately $5,944,000. Milestone Asset Management LLC acquired a new stake in StoneX Group during the third quarter worth approximately $1,885,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in StoneX Group by 551.6% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,724 shares of the company’s stock worth $3,202,000 after acquiring an additional 26,855 shares during the last quarter. Finally, Orion Porfolio Solutions LLC acquired a new stake in StoneX Group during the second quarter worth approximately $1,972,000. 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.