Insider Selling: StoneX Group (NASDAQ:SNEX) Insider Sells 8,924 Shares of Stock

StoneX Group Inc. (NASDAQ:SNEX) insider Abigail Perkins sold 8,924 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $68.83, for a total transaction of $614,238.92. Following the completion of the transaction, the insider owned 87,739 shares of the company’s stock, valued at $6,039,075.37. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

StoneX Group Trading Up 1.1%

NASDAQ:SNEX traded up $0.75 during trading hours on Wednesday, hitting $67.61. 646,400 shares of the stock were exchanged, compared to its average volume of 1,081,560. The company has a market capitalization of $8.16 billion, a P/E ratio of 16.14 and a beta of 0.63. The company has a quick ratio of 1.39, a current ratio of 1.82 and a debt-to-equity ratio of 1.45. The company’s 50 day moving average is $71.03 and its two-hundred day moving average is $72.76. StoneX Group Inc. has a twelve month low of $36.45 and a twelve month high of $94.66.

StoneX Group (NASDAQ:SNEX) last released its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share 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 company had revenue of $39.71 billion during the quarter, compared to the consensus estimate of $1.32 billion. On average, sell-side analysts anticipate that StoneX Group Inc. will post 4.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on SNEX. Jefferies Financial Group downgraded shares of StoneX Group from a “buy” rating to a “hold” rating and cut their target price for the company from $123.00 to $112.00 in a research report on Monday, July 20th. Zacks Research upgraded shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Wall Street Zen downgraded shares of StoneX Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised shares of StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $112.00.

Hedge Funds Weigh In On StoneX Group

Several hedge funds have recently added to or reduced their stakes in SNEX. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of StoneX Group in the second quarter valued at approximately $3,079,000. Coppell Advisory Solutions LLC bought a new stake in StoneX Group in the 2nd quarter valued at $3,738,000. Northwestern Mutual Wealth Management Co. boosted its stake in StoneX Group by 18,363.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,772 shares of the company’s stock worth $2,547,000 after purchasing an additional 26,627 shares during the period. Deutsche Bank AG acquired a new position in StoneX Group in the 2nd quarter worth $13,328,000. Finally, Bank of New York Mellon Corp bought a new position in StoneX Group during the 2nd quarter worth about $51,254,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

About StoneX Group

StoneX Group Inc (NASDAQ: SNEX) is a global financial services company that provides execution, clearing, market-making, advisory and risk-management services across a range of markets. Its clients include commercial and industrial businesses, institutional investors, broker-dealers, asset managers, professional traders and retail investors.

The company’s offerings include futures and options trading, securities execution and clearing, foreign exchange, global payments, commodities trading and hedging, and access to physical commodities markets.