StoneX Group (NASDAQ:SNEX) Stock Price Down 11.8% – Here’s Why

StoneX Group Inc. (NASDAQ:SNEX)’s share price fell 11.8% during trading on Monday . The company traded as low as $122.51 and last traded at $119.3790. 730,474 shares were traded during mid-day trading, an increase of 0% from the average session volume of 729,639 shares. The stock had previously closed at $135.42.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. William Blair restated an “outperform” rating on shares of StoneX Group in a report on Monday, March 9th. Weiss Ratings restated a “buy (b-)” rating on shares of StoneX Group in a research note on Friday, May 22nd. Wall Street Zen raised shares of StoneX Group from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. Finally, Zacks Research upgraded shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $122.00.

StoneX Group Trading Down 14.2%

The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 20.83 and a beta of 0.64. The company has a fifty day moving average price of $117.30 and a 200-day moving average price of $109.32. The company has a current ratio of 1.74, a quick ratio of 1.33 and a debt-to-equity ratio of 1.27.

Shares of StoneX Group are going to split on the morning of Monday, July 20th. The 3-2 split was announced on Tuesday, May 26th. The newly issued shares will be payable to shareholders after the closing bell on Friday, July 17th.

StoneX Group (NASDAQ:SNEX) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.47. StoneX Group had a return on equity of 19.31% and a net margin of 0.30%.The company had revenue of $826.40 million during the quarter, compared to analysts’ expectations of $1.37 billion. As a group, research analysts expect that StoneX Group Inc. will post 6 EPS for the current year.

Insider Transactions at StoneX Group

In other StoneX Group news, CFO William J. Dunaway sold 64,017 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $110.46, for a total value of $7,071,317.82. Following the completion of the transaction, the chief financial officer owned 273,586 shares in the company, valued at approximately $30,220,309.56. This represents a 18.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip Andrew Smith sold 30,000 shares of the stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $92.23, for a total transaction of $2,766,900.00. Following the sale, the chief executive officer directly owned 514,719 shares in the company, valued at approximately $47,472,533.37. The trade was a 5.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 712,479 shares of company stock worth $84,428,969. Insiders own 11.79% of the company’s stock.

Hedge Funds Weigh In On StoneX Group

Institutional investors and hedge funds have recently modified their holdings of the business. Cassaday & Co Wealth Management LLC purchased a new position in StoneX Group during the first quarter worth approximately $34,000. Sterling Capital Management LLC raised its stake in shares of StoneX Group by 48.7% during the 1st 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. Basecamp Wealth Advisors LLC raised its stake in shares of StoneX Group by 49.7% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 512 shares of the company’s stock worth $41,000 after buying an additional 170 shares during the period. Transamerica Financial Advisors LLC lifted its position in shares of StoneX Group by 183.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 433 shares of the company’s stock valued at $41,000 after buying an additional 280 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of StoneX Group during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.