StoneX Group (NASDAQ:SNEX) Issues Earnings Results, Beats Expectations By $0.14 EPS

StoneX Group (NASDAQ:SNEX) released its quarterly earnings results on Wednesday. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.14, FiscalAI reports. The business had revenue of $718.00 million for the quarter, compared to analysts’ expectations of $1.32 billion. StoneX Group had a net margin of 0.30% and a return on equity of 19.31%.

StoneX Group Trading Up 1.1%

Shares of NASDAQ SNEX opened at $76.02 on Thursday. StoneX Group has a 1 year low of $35.68 and a 1 year high of $94.66. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.74 and a quick ratio of 1.33. The firm has a 50-day moving average of $79.86 and a 200 day moving average of $74.95. The stock has a market cap of $9.04 billion, a P/E ratio of 20.37 and a beta of 0.66.

Insiders Place Their Bets

In other StoneX Group news, CEO Philip Andrew Smith sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $74.32, for a total transaction of $3,344,400.00. Following the completion of the transaction, the chief executive officer owned 738,216 shares of the company’s stock, valued at approximately $54,864,213.12. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Sean Michael Oconnor sold 104,934 shares of StoneX Group stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $74.33, for a total transaction of $7,799,744.22. Following the transaction, the chairman owned 1,750,447 shares of the company’s stock, valued at $130,110,725.51. The trade was a 5.66% 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. In the last quarter, insiders have sold 1,455,027 shares of company stock valued at $114,078,877. Insiders own 11.79% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its stake in shares of StoneX Group by 5.8% in the fourth quarter. Corient Private Wealth LLC now owns 2,993 shares of the company’s stock worth $285,000 after acquiring an additional 163 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of StoneX Group by 24.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,499,292 shares of the company’s stock worth $142,628,000 after purchasing an additional 294,203 shares during the last quarter. Van Diest Capital LLC purchased a new position in shares of StoneX Group in the 4th quarter worth about $218,000. Invesco Ltd. boosted its stake in StoneX Group by 13.1% in the 4th quarter. Invesco Ltd. now owns 611,966 shares of the company’s stock worth $58,216,000 after purchasing an additional 70,886 shares in the last quarter. Finally, Summit Global Investments bought a new position in StoneX Group in the 4th quarter worth about $249,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.