StoneX Group (NASDAQ:SNEX) Shares Gap Down – Time to Sell?

StoneX Group Inc. (NASDAQ:SNEX)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $76.02, but opened at $67.24. StoneX Group shares last traded at $69.8140, with a volume of 426,388 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Weiss Ratings lowered StoneX Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Zacks Research downgraded shares of StoneX Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Jefferies Financial Group lowered shares of StoneX Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $123.00 to $112.00 in a research note on Monday, July 20th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.00.

StoneX Group Price Performance

The company’s 50-day simple moving average is $79.86 and its 200 day simple moving average is $74.95. 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 stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 17.90 and a beta of 0.66.

StoneX Group (NASDAQ:SNEX) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.14. StoneX Group had a return on equity of 19.31% and a net margin of 0.30%.The company had revenue of $718.00 million during the quarter, compared to the consensus estimate of $1.32 billion. Equities research analysts forecast that StoneX Group Inc. will post 4 EPS for the current year.

Insider Activity

In other news, Chairman Sean Michael Oconnor sold 210,105 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $73.54, for a total value of $15,451,121.70. Following the completion of the sale, the chairman directly owned 1,855,381 shares in the company, valued at approximately $136,444,718.74. The trade was a 10.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO William J. Dunaway sold 96,025 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $73.64, for a total transaction of $7,071,281.00. Following the completion of the transaction, the chief financial officer owned 410,379 shares in the company, valued at $30,220,309.56. The trade was a 18.96% 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 1,455,027 shares of company stock valued at $114,078,877 over the last 90 days. 11.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bessemer Group Inc. grew its holdings in shares of StoneX Group by 1,562.1% in the 4th quarter. Bessemer Group Inc. now owns 164,249 shares of the company’s stock worth $15,626,000 after purchasing an additional 154,367 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings 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 valued at $2,547,000 after purchasing an additional 26,627 shares during the last quarter. Leuthold Group LLC lifted its holdings in StoneX Group by 834.0% during the 4th quarter. Leuthold Group LLC now owns 30,487 shares of the company’s stock valued at $2,900,000 after purchasing an additional 27,223 shares during the last quarter. Vanguard Group Inc. boosted its position in StoneX Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,031,545 shares of the company’s stock valued at $383,521,000 after buying an additional 11,240 shares in the last quarter. Finally, Horizon Investments LLC boosted its position in StoneX Group by 2.6% in the fourth quarter. Horizon Investments LLC now owns 22,166 shares of the company’s stock valued at $2,109,000 after buying an additional 571 shares in the last quarter. 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.