StoneX Group (NASDAQ:SNEX) Rating Lowered to “Hold” at Zacks Research

StoneX Group (NASDAQ:SNEX) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

SNEX has been the subject of a number of other research reports. Jefferies Financial Group lifted 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. William Blair reaffirmed an “outperform” rating on shares of StoneX Group in a research report on Monday, March 9th. Wall Street Zen raised shares of StoneX Group from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Weiss Ratings raised shares of StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.00.

StoneX Group Price Performance

SNEX opened at $86.89 on Monday. The company has a fifty day moving average price of $108.75 and a two-hundred day moving average price of $100.91. 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 52 week low of $45.58 and a 52 week high of $88.38. The firm has a market capitalization of $6.84 billion, a PE ratio of 19.45 and a beta of 0.42.

StoneX Group (NASDAQ:SNEX) last released its earnings results on Wednesday, February 4th. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.44. StoneX Group had a net margin of 0.25% and a return on equity of 16.43%. The firm had revenue of $724.00 million during the quarter, compared to analyst estimates of $1.24 billion. As a group, analysts anticipate that StoneX Group will post 8.7 earnings per share for the current year.

Insider Activity

In other news, insider Abigail H. Perkins sold 8,000 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $126.72, for a total transaction of $1,013,760.00. Following the completion of the transaction, the insider owned 48,259 shares of the company’s stock, valued at approximately $6,115,380.48. This trade represents a 14.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Charles M. Lyon sold 30,000 shares of StoneX Group 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 $18,758,177.40. This represents a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 120,125 shares of company stock valued at $14,983,688. 11.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On StoneX Group

A number of hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC bought a new position in StoneX Group during the fourth quarter worth $1,032,000. Corient Private Wealth LLC raised its stake in StoneX Group by 5.8% during the fourth quarter. Corient Private Wealth LLC now owns 2,993 shares of the company’s stock worth $285,000 after buying an additional 163 shares during the last quarter. MidFirst Bank bought a new position in StoneX Group during the fourth quarter worth $2,676,000. T. Rowe Price Investment Management Inc. raised its stake in 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 worth $142,628,000 after buying an additional 294,203 shares during the last quarter. Finally, Van Diest Capital LLC bought a new position in StoneX Group during the fourth quarter worth $218,000. 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.