StoneX Group (NASDAQ:SNEX) Shares Down 4.5% Following Insider Selling

StoneX Group Inc. (NASDAQ:SNEX) shares fell 4.5% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $124.95 and last traded at $126.0150. 336,409 shares were traded during trading, a decline of 51% from the average session volume of 692,869 shares. The stock had previously closed at $131.90.

Specifically, Director Annabelle G. Bexiga sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $133.36, for a total transaction of $200,040.00. Following the sale, the director owned 20,188 shares in the company, valued at $2,692,271.68. This represents a 6.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Sean Michael Oconnor sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $135.42, for a total value of $10,156,500.00. Following the sale, the chairman owned 1,086,921 shares in the company, valued at $147,190,841.82. The trade was a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In other news, Chairman Sean Michael Oconnor sold 75,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $131.15, for a total transaction of $9,836,250.00. Following the sale, the chairman directly owned 1,161,921 shares in the company, valued at approximately $152,385,939.15. This represents a 6.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SNEX shares. Wall Street Zen upgraded StoneX Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. Zacks Research upgraded StoneX Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of StoneX Group in a research report on Friday, May 22nd. Finally, William Blair reiterated an “outperform” rating on shares of StoneX Group in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $122.00.

More StoneX Group News

Here are the key news stories impacting StoneX Group this week:

• Positive Sentiment: SNEX recently hit a new 12-month high, signaling strong investor demand and momentum in the stock. StoneX Group (NASDAQ:SNEX) Hits New 12-Month High – Should You Buy?
• Positive Sentiment: The shares surged in the prior session on above-average volume, suggesting traders are still reacting favorably to recent earnings results and analyst sentiment. StoneX Group (SNEX) Soars 3.9%: Is Further Upside Left in the Stock?
• Neutral Sentiment: StoneX is moving toward a 3-for-2 stock split on July 20, which may improve liquidity and attention but does not change the company’s fundamentals. StoneX Group insider trades page
• Negative Sentiment: Recent insider sales may be weighing on sentiment: Chairman Sean Michael Oconnor sold 150,000 shares in two transactions, CFO William Dunaway sold 63,602 shares, President Charles M. Lyon sold 9,000 shares, and Director Annabelle Bexiga sold 1,500 shares. The sales were disclosed in SEC filings and were largely tied to pre-arranged trading plans. SEC filing

StoneX Group Price Performance

The firm has a market capitalization of $10.10 billion, a P/E ratio of 22.95 and a beta of 0.64. The business has a fifty day moving average of $110.46 and a 200-day moving average of $106.74. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.33 and a current ratio of 1.74.

StoneX Group’s stock is going to split before the market opens on Monday, July 20th. The 3-2 split was announced on Tuesday, May 26th. The newly minted shares will be distributed to shareholders after the closing bell on Friday, July 17th.

StoneX Group (NASDAQ:SNEX) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.47. StoneX Group had a return on equity of 19.31% and a net margin of 0.30%.The business had revenue of $826.40 million during the quarter, compared to analyst estimates of $1.37 billion. On average, sell-side analysts forecast that StoneX Group Inc. will post 6 EPS for the current fiscal year.

Hedge Funds Weigh In On StoneX Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC grew its holdings in StoneX Group by 28,000.0% in the 3rd quarter. AlphaQuest LLC now owns 281 shares of the company’s stock worth $28,000 after buying an additional 280 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in StoneX Group in the 1st quarter worth approximately $34,000. Sterling Capital Management LLC grew its holdings in StoneX Group by 48.8% in the 1st quarter. Sterling Capital Management LLC now owns 476 shares of the company’s stock worth $38,000 after buying an additional 156 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings in StoneX Group by 183.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 433 shares of the company’s stock worth $41,000 after buying an additional 280 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in StoneX Group in the 4th quarter worth approximately $50,000. 75.93% of the stock is owned by 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.