StoneX Group (NASDAQ:SNEX) Rating Lowered to Hold at Wall Street Zen

StoneX Group (NASDAQ:SNEX) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently weighed in on SNEX. Zacks Research upgraded shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Weiss Ratings upgraded shares of StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. William Blair reissued an “outperform” rating on shares of StoneX Group in a research report on Monday, March 9th. Finally, Jefferies Financial Group upped 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 research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, StoneX Group currently has an average rating of “Buy” and a consensus target price of $122.00.

StoneX Group Price Performance

Shares of NASDAQ SNEX opened at $78.36 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.34 and a current ratio of 1.80. StoneX Group has a fifty-two week low of $43.33 and a fifty-two week high of $88.38. The firm has a market capitalization of $6.17 billion, a PE ratio of 17.54 and a beta of 0.42. The stock’s 50-day simple moving average is $112.31 and its 200-day simple moving average is $101.51.

StoneX Group (NASDAQ:SNEX) last posted its earnings results on Wednesday, February 4th. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.44. The firm had revenue of $724.00 million during 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 research analysts forecast that StoneX Group will post 8.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Charles M. Lyon sold 30,000 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $124.78, for a total value of $3,743,400.00. Following the completion of the sale, the president owned 150,330 shares in the company, valued at $18,758,177.40. This represents a 16.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Sean Michael Oconnor sold 40,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $124.95, for a total transaction of $4,998,000.00. Following the sale, the chairman owned 854,127 shares of the company’s stock, valued at approximately $106,723,168.65. This represents a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 120,125 shares of company stock valued at $14,983,688. 11.79% of the stock is owned by insiders.

Institutional Investors Weigh In On StoneX Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of StoneX Group by 129.0% during the first quarter. Royal Bank of Canada now owns 77,545 shares of the company’s stock worth $5,923,000 after buying an additional 43,678 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in StoneX Group during the 1st quarter valued at approximately $449,000. Goldman Sachs Group Inc. raised its stake in StoneX Group by 6.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 225,711 shares of the company’s stock valued at $17,240,000 after acquiring an additional 13,815 shares during the last quarter. United Services Automobile Association acquired a new stake in StoneX Group during the 1st quarter worth approximately $210,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in StoneX Group by 55.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,125 shares of the company’s stock worth $8,182,000 after acquiring an additional 38,073 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

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.