StoneX Group (NASDAQ:SNEX) Announces Earnings Results, Beats Expectations By $0.47 EPS

StoneX Group (NASDAQ:SNEX) issued its quarterly earnings results on Wednesday. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.47, FiscalAI reports. StoneX Group had a net margin of 0.30% and a return on equity of 20.17%. The company had revenue of $826.40 million for the quarter, compared to the consensus estimate of $1.37 billion.

StoneX Group Price Performance

Shares of SNEX stock traded up $0.22 during trading hours on Friday, hitting $121.12. 31,004 shares of the company’s stock were exchanged, compared to its average volume of 676,390. The company has a quick ratio of 1.34, a current ratio of 1.80 and a debt-to-equity ratio of 1.34. The firm has a market cap of $9.53 billion, a P/E ratio of 21.70 and a beta of 0.64. The firm has a 50 day moving average of $101.63 and a two-hundred day moving average of $101.58. StoneX Group has a fifty-two week low of $53.52 and a fifty-two week high of $125.42.

Insider Transactions at StoneX Group

In related news, CEO Philip Andrew Smith sold 30,000 shares of the business’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $92.23, for a total value of $2,766,900.00. Following the completion of the sale, the chief executive officer owned 514,719 shares of the company’s stock, valued at approximately $47,472,533.37. The trade was a 5.51% decrease in their position. The sale was disclosed in a legal 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, insider Abigail H. Perkins sold 8,000 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $126.72, for a total transaction of $1,013,760.00. Following the transaction, the insider owned 48,259 shares of the company’s stock, valued at $6,115,380.48. This represents a 14.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 151,550 shares of company stock worth $17,888,228 in the last ninety days. Company insiders own 11.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in StoneX Group by 18.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,851,468 shares of the company’s stock worth $271,261,000 after buying an additional 439,771 shares during the last quarter. State Street Corp raised its holdings in shares of StoneX Group by 0.3% during the fourth quarter. State Street Corp now owns 1,829,897 shares of the company’s stock valued at $174,078,000 after acquiring an additional 6,220 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of StoneX Group by 24.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,499,292 shares of the company’s stock valued at $142,628,000 after acquiring an additional 294,203 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of StoneX Group by 8.5% in the third quarter. Ameriprise Financial Inc. now owns 941,842 shares of the company’s stock valued at $95,051,000 after acquiring an additional 73,566 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of StoneX Group by 9.1% in the fourth quarter. Morgan Stanley now owns 656,791 shares of the company’s stock worth $62,481,000 after acquiring an additional 54,851 shares during the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNEX has been the topic of several recent research reports. Wall Street Zen raised shares of StoneX Group from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. Weiss Ratings raised shares of StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Jefferies Financial Group boosted their target price on shares of StoneX Group from $99.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Zacks Research raised shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of StoneX Group in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $122.00.

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.