StoneX Group (NASDAQ:SNEX) Downgraded by Zacks Research to Hold

Zacks Research cut shares of StoneX Group (NASDAQ:SNEX) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks reports.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group lowered StoneX Group from a “buy” rating to a “hold” rating and cut their target price for the company from $123.00 to $112.00 in a research note on Monday, July 20th. Wall Street Zen cut StoneX Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings lowered shares of StoneX Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $112.00.

StoneX Group Stock Down 2.1%

NASDAQ SNEX opened at $66.00 on Monday. The stock has a 50 day moving average price of $68.54 and a 200-day moving average price of $71.77. StoneX Group has a one year low of $36.45 and a one year high of $94.66. The company has a market capitalization of $7.96 billion, a P/E ratio of 15.76 and a beta of 0.62. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.39 and a current ratio of 1.82.

StoneX Group (NASDAQ:SNEX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.14. The company had revenue of $39.71 billion during the quarter, compared to the consensus estimate of $1.32 billion. StoneX Group had a return on equity of 20.18% and a net margin of 0.33%. As a group, equities analysts predict that StoneX Group will post 4.35 EPS for the current fiscal year.

Insider Activity

In related news, insider Diego Rotsztain sold 30,327 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $68.83, for a total transaction of $2,087,407.41. Following the sale, the insider directly owned 55,168 shares in the company, valued at approximately $3,797,213.44. This represents a 35.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO William J. Dunaway sold 96,490 shares of StoneX Group stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $66.35, for a total value of $6,402,111.50. Following the sale, the chief financial officer directly owned 502,203 shares of the company’s stock, valued at $33,321,169.05. This trade represents a 16.12% 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 731,928 shares of company stock worth $51,626,582 in the last three months. 11.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rakuten Securities Inc. acquired a new position in StoneX Group during the second quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of StoneX Group during the 2nd quarter worth about $42,000. Silvant Capital Management LLC acquired a new position in StoneX Group in the second quarter valued at $43,000. Cassaday & Co Wealth Management LLC purchased a new stake in StoneX Group during the first quarter worth approximately $34,000. Finally, Sterling Capital Management LLC boosted 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 buying an additional 156 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

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.