StoneX Group (NASDAQ:SNEX) Stock Price Down 7.6% – Time to Sell?

StoneX Group Inc. (NASDAQ:SNEX)’s share price fell 7.6% on Wednesday. The company traded as low as $61.22 and last traded at $60.9580. Approximately 541,399 shares were traded during trading, a decline of 50% from the average daily volume of 1,072,947 shares. The stock had previously closed at $66.00.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SNEX. Weiss Ratings lowered StoneX Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. Wall Street Zen cut shares of StoneX Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research lowered shares of StoneX Group from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Jefferies Financial Group cut shares of StoneX Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $123.00 to $112.00 in a research report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $112.00.

StoneX Group Price Performance

The stock has a 50-day moving average of $67.98 and a two-hundred day moving average of $71.64. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 14.42 and a beta of 0.62. The company has a current ratio of 1.82, a quick ratio of 1.39 and a debt-to-equity ratio of 1.45.

StoneX Group (NASDAQ:SNEX) last posted its quarterly earnings data 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 20.18% and a net margin of 0.33%.The firm had revenue of $39.71 billion for the quarter, compared to the consensus estimate of $1.32 billion. On average, analysts anticipate that StoneX Group Inc. will post 4.35 EPS for the current year.

Insider Activity

In other news, insider Diego Rotsztain sold 30,327 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $68.83, for a total value of $2,087,407.41. Following the completion of the sale, the insider owned 55,168 shares of the company’s stock, valued at $3,797,213.44. This trade represents a 35.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Sean O’Connor sold 104,934 shares of StoneX Group stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $74.33, for a total value of $7,799,744.22. Following the transaction, the chairman owned 1,750,447 shares in the company, valued at $130,110,725.51. This represents a 5.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 731,928 shares of company stock worth $51,626,582. 11.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On StoneX Group

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of StoneX Group in the 2nd quarter valued at about $1,343,877,000. Dimensional Fund Advisors LP increased its stake in StoneX Group by 50.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,107,795 shares of the company’s stock valued at $169,976,000 after buying an additional 704,493 shares during the period. Wasatch Advisors LP acquired a new position in StoneX Group in the 2nd quarter valued at approximately $139,730,000. Van Berkom & Associates Inc. lifted its position in StoneX Group by 21.1% in the 1st quarter. Van Berkom & Associates Inc. now owns 1,384,258 shares of the company’s stock worth $111,640,000 after buying an additional 240,749 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. acquired a new stake in shares of StoneX Group during the 2nd quarter valued at $82,250,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

About StoneX Group

StoneX Group Inc is a global financial services company that provides execution, clearing, custody, payments, market intelligence and risk-management solutions. Through its businesses, the company serves commercial and institutional clients, asset managers, broker-dealers, government and nonprofit organizations, and retail investors.

StoneX offers access to a broad range of markets and products, including equities, fixed income, foreign exchange, commodities, futures and options. Its services include institutional trading and clearing, physical commodities and hedging solutions, global payments, securities financing, wealth-management support and online trading for individual investors.

The company operates through a global network serving clients across North America, Latin America, Europe, Asia and other international markets.