StoneX Group (NASDAQ:SNEX) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of StoneX Group (NASDAQ:SNEX) from a hold rating to a buy rating in a research report sent to investors on Sunday.

Other analysts have also issued research reports about the company. Zacks Research raised StoneX Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Weiss Ratings raised StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. William Blair reiterated an “outperform” rating on shares of StoneX Group in a research report on Monday, March 9th. Finally, Jefferies Financial Group increased their price objective on shares of StoneX Group from $99.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat, StoneX Group currently has a consensus rating of “Buy” and an average price target of $122.00.

StoneX Group Price Performance

Shares of NASDAQ:SNEX opened at $84.36 on Friday. The business’s 50 day simple moving average is $109.63 and its 200-day simple moving average is $101.03. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 18.89 and a beta of 0.42. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.80 and a quick ratio of 1.34. StoneX Group has a 12 month low of $43.33 and a 12 month high of $88.38.

StoneX Group (NASDAQ:SNEX) last released its quarterly earnings results on Wednesday, February 4th. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.44. The business 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, equities analysts forecast that StoneX Group will post 8.7 earnings per share for the current fiscal year.

Insider Activity

In other StoneX Group news, insider Mark Lowry Maurer sold 40,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $124.88, for a total transaction of $4,995,200.00. Following the sale, the insider owned 90,331 shares in the company, valued at approximately $11,280,535.28. This represents a 30.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Sean Michael Oconnor sold 40,000 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $124.95, for a total value of $4,998,000.00. Following the completion of the transaction, the chairman directly owned 854,127 shares of the company’s stock, valued at approximately $106,723,168.65. This trade represents a 4.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 120,125 shares of company stock worth $14,983,688 in the last quarter. 11.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new stake in shares of StoneX Group during the 4th quarter worth about $1,032,000. Corient Private Wealth LLC raised its position 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 valued at $285,000 after buying an additional 163 shares during the last quarter. MidFirst Bank acquired a new position in shares of StoneX Group in the fourth quarter valued at approximately $2,676,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of StoneX Group by 24.4% during 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 buying an additional 294,203 shares during the period. Finally, Van Diest Capital LLC purchased a new position in shares of StoneX Group during the fourth quarter valued at approximately $218,000. Institutional investors and hedge funds 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.