StoneX Group (NASDAQ:SNEX) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of StoneX Group (NASDAQ:SNEX) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of StoneX Group in a research note on Monday, December 29th. Jefferies Financial Group raised their target price on shares of StoneX Group from $99.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Wall Street Zen raised StoneX Group from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $122.00.

StoneX Group Stock Up 1.1%

StoneX Group stock opened at $127.00 on Monday. StoneX Group has a 52 week low of $65.00 and a 52 week high of $127.99. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 18.85 and a beta of 0.45. The company’s 50-day moving average price is $103.44 and its two-hundred day moving average price is $97.87. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 1.34.

StoneX Group shares are set to split on Monday, March 23rd. The 3-2 split was announced on Thursday, February 5th. The newly minted shares will be issued to shareholders after the market closes on Tuesday, March 10th.

StoneX Group (NASDAQ:SNEX) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.44. The business had revenue of $724.00 million during the quarter, compared to analyst estimates of $1.24 billion. StoneX Group had a return on equity of 16.43% and a net margin of 0.25%. On average, analysts expect 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 stock was sold at an average price of $124.78, for a total transaction of $3,743,400.00. Following the transaction, the president directly owned 150,330 shares of the company’s stock, valued at approximately $18,758,177.40. The trade was a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Diego Rotsztain sold 2,477 shares of the stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $94.91, for a total value of $235,092.07. Following the completion of the sale, the insider directly owned 17,527 shares of the company’s stock, valued at approximately $1,663,487.57. This represents a 12.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 36,979 shares of company stock worth $4,426,657. 11.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On StoneX Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in shares of StoneX Group by 129.0% in the first quarter. Royal Bank of Canada now owns 77,545 shares of the company’s stock worth $5,923,000 after acquiring an additional 43,678 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in StoneX Group during the first quarter valued at $449,000. Goldman Sachs Group Inc. grew its stake in StoneX Group by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 225,711 shares of the company’s stock valued at $17,240,000 after purchasing an additional 13,815 shares in the last quarter. United Services Automobile Association acquired a new position in StoneX Group in the 1st quarter worth about $210,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 purchasing an additional 38,073 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

About StoneX Group

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.