StoneX Group (NASDAQ:SNEX) Rating Lowered to “Hold” at Zacks Research

StoneX Group (NASDAQ:SNEX) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

SNEX has been the subject of several other reports. Jefferies Financial Group upped their target price on StoneX Group from $99.00 to $122.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Weiss Ratings raised StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. William Blair reaffirmed an “outperform” rating on shares of StoneX Group in a report on Monday, March 9th. Finally, Wall Street Zen raised shares of StoneX Group from a “hold” rating to a “buy” rating in a report on Sunday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.00.

StoneX Group Price Performance

SNEX stock opened at $86.89 on Monday. The stock has a 50-day moving average price of $108.75 and a two-hundred day moving average price of $100.91. StoneX Group has a 12-month low of $45.58 and a 12-month high of $88.38. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 1.34. The company has a market cap of $6.84 billion, a PE ratio of 19.45 and a beta of 0.42.

StoneX Group (NASDAQ:SNEX) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.44. The company had revenue of $724.00 million for the quarter, compared to analysts’ expectations of $1.24 billion. StoneX Group had a return on equity of 16.43% and a net margin of 0.25%. As a group, research analysts predict that StoneX Group will post 8.7 EPS for the current year.

Insiders Place Their Bets

In related news, insider Mark Lowry Maurer sold 40,000 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $124.88, for a total value of $4,995,200.00. Following the completion of the transaction, the insider directly owned 90,331 shares of the company’s stock, valued at $11,280,535.28. This represents a 30.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Abigail H. Perkins sold 8,000 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $126.72, for a total value of $1,013,760.00. Following the completion of the transaction, the insider directly owned 48,259 shares of the company’s stock, valued at $6,115,380.48. This trade represents a 14.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 120,125 shares of company stock worth $14,983,688. 11.79% of the stock is owned by company insiders.

Institutional Trading of StoneX Group

Hedge funds have recently modified their holdings of the business. Choreo LLC raised its holdings in shares of StoneX Group by 4.5% during the fourth quarter. Choreo LLC now owns 2,764 shares of the company’s stock worth $270,000 after acquiring an additional 118 shares in the last quarter. Xponance Inc. increased its position in StoneX Group by 3.6% during the third quarter. Xponance Inc. now owns 3,624 shares of the company’s stock worth $366,000 after buying an additional 125 shares during the last quarter. Lido Advisors LLC increased its position in StoneX Group by 3.2% during the fourth quarter. Lido Advisors LLC now owns 4,050 shares of the company’s stock worth $403,000 after buying an additional 125 shares during the last quarter. Maryland State Retirement & Pension System increased its position in StoneX Group by 2.2% during the fourth quarter. Maryland State Retirement & Pension System now owns 6,818 shares of the company’s stock worth $649,000 after buying an additional 144 shares during the last quarter. Finally, MRP Capital Investments LLC grew its position in StoneX Group by 0.6% during the second quarter. MRP Capital Investments LLC now owns 25,530 shares of the company’s stock worth $2,327,000 after buying an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.