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

Wall Street Zen lowered shares of StoneX Group (NASDAQ:SNEX) from a buy rating to a hold rating in a research report released on Saturday.

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

StoneX Group Stock Down 1.7%

SNEX opened at $64.72 on Friday. The business has a 50 day moving average price of $79.26 and a 200 day moving average price of $74.82. StoneX Group has a twelve month low of $36.45 and a twelve month high of $94.66. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.39 and a current ratio of 1.82. The firm has a market cap of $7.81 billion, a P/E ratio of 15.45 and a beta of 0.66.

StoneX Group (NASDAQ:SNEX) last announced its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.14. StoneX Group had a return on equity of 20.18% and a net margin of 0.33%.The firm had revenue of $718.00 million during the quarter, compared to analysts’ expectations of $1.32 billion. Research analysts forecast that StoneX Group will post 4.35 EPS for the current year.

Insider Transactions at StoneX Group

In other news, Chairman Sean Michael Oconnor sold 104,934 shares of the stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $74.33, for a total value of $7,799,744.22. Following the completion of the sale, the chairman directly owned 1,750,447 shares of the company’s stock, valued at approximately $130,110,725.51. This represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO William J. Dunaway sold 95,970 shares of the business’s stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $74.33, for a total transaction of $7,133,450.10. Following the transaction, the chief financial officer directly owned 472,131 shares in the company, valued at $35,093,497.23. This trade represents a 16.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,447,602 shares of company stock worth $113,460,123. Insiders own 11.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SNEX. BlackRock Inc. bought a new stake in shares of StoneX Group in the second quarter valued at about $1,343,877,000. Vanguard Group Inc. raised its holdings in StoneX Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 4,031,545 shares of the company’s stock valued at $383,521,000 after acquiring an additional 11,240 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in StoneX Group by 18.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,851,468 shares of the company’s stock valued at $271,261,000 after acquiring an additional 439,771 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of StoneX Group by 50.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,107,795 shares of the company’s stock worth $169,976,000 after acquiring an additional 704,493 shares during the period. Finally, State Street Corp lifted its position in shares of StoneX Group by 0.3% in the 4th quarter. State Street Corp now owns 1,829,897 shares of the company’s stock worth $174,078,000 after acquiring an additional 6,220 shares during the period. 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.