StoneX Group (NASDAQ:SNEX) Lowered to “Hold” Rating by Zacks Research

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

Other analysts also recently issued reports about the company. Weiss Ratings upgraded StoneX Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. William Blair restated an “outperform” rating on shares of StoneX Group in a research note on Monday, March 9th. Finally, Wall Street Zen raised shares of StoneX Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, StoneX Group has a consensus rating of “Moderate Buy” and an average target price of $122.00.

StoneX Group Stock Performance

NASDAQ:SNEX opened at $121.49 on Monday. 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 firm’s fifty day simple moving average is $119.47 and its 200-day simple moving average is $110.47. StoneX Group has a fifty-two week low of $53.52 and a fifty-two week high of $141.99. The stock has a market cap of $9.63 billion, a PE ratio of 21.71 and a beta of 0.65.

StoneX Group shares 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 payable 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 for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.37 billion. Analysts expect that StoneX Group will post 6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Sean Michael Oconnor sold 75,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $135.42, for a total value of $10,156,500.00. Following the sale, the chairman owned 1,086,921 shares in the company, valued at approximately $147,190,841.82. This represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Annabelle G. Bexiga sold 1,500 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was 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 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. In the last three months, insiders have sold 764,019 shares of company stock worth $90,547,797. 11.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Choreo LLC increased its position in StoneX Group by 4.5% in the 4th quarter. Choreo LLC now owns 2,764 shares of the company’s stock valued at $270,000 after acquiring an additional 118 shares during the period. Lido Advisors LLC grew its holdings in shares of StoneX Group by 3.2% in the 4th quarter. Lido Advisors LLC now owns 4,050 shares of the company’s stock worth $403,000 after acquiring an additional 125 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in StoneX Group by 2.2% in 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 in the last quarter. Sterling Capital Management LLC increased its position in shares of StoneX Group by 48.7% in the first quarter. Sterling Capital Management LLC now owns 476 shares of the company’s stock worth $38,000 after acquiring an additional 156 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in StoneX Group by 5.8% during the 4th quarter. Corient Private Wealth LLC now owns 2,993 shares of the company’s stock valued at $285,000 after purchasing an additional 163 shares during the period. 75.93% of the stock is currently owned by institutional investors.

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.