StoneX Group (NASDAQ:SNEX) Stock Price Down 11.8% – Here’s What Happened

StoneX Group Inc. (NASDAQ:SNEX) traded down 11.8% during trading on Monday . The stock traded as low as $122.51 and last traded at $119.3790. Approximately 730,474 shares were traded during mid-day trading, an increase of 0% from the average session volume of 729,639 shares. The stock had previously closed at $135.42.

Analyst Upgrades and Downgrades

SNEX has been the topic of several recent analyst reports. Zacks Research raised shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of StoneX Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of StoneX Group in a research note on Friday, May 22nd. Finally, William Blair reiterated an “outperform” rating on shares of StoneX Group in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $122.00.

StoneX Group Stock Down 14.2%

The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 20.83 and a beta of 0.64. The company has a quick ratio of 1.33, a current ratio of 1.74 and a debt-to-equity ratio of 1.27. The business’s 50-day moving average is $117.30 and its two-hundred day moving average is $109.32.

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

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

Insider Activity

In other StoneX Group news, Chairman Sean Michael Oconnor sold 140,070 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $110.31, for a total transaction of $15,451,121.70. Following the transaction, the chairman owned 1,236,921 shares of the company’s stock, valued at approximately $136,444,755.51. The trade was a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Diego Rotsztain sold 20,054 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $111.48, for a total value of $2,235,619.92. Following the completion of the sale, the insider owned 36,943 shares of the company’s stock, valued at approximately $4,118,405.64. The trade was a 35.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 712,479 shares of company stock valued at $84,428,969 in the last 90 days. 11.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Choreo LLC grew its holdings in shares of StoneX Group by 4.5% in the fourth quarter. Choreo LLC now owns 2,764 shares of the company’s stock valued at $270,000 after purchasing an additional 118 shares during the period. Xponance Inc. boosted its holdings in StoneX Group by 3.6% in the 3rd quarter. Xponance Inc. now owns 3,624 shares of the company’s stock valued at $366,000 after purchasing an additional 125 shares during the last quarter. Lido Advisors LLC boosted its holdings in StoneX Group by 3.2% in the 4th quarter. Lido Advisors LLC now owns 4,050 shares of the company’s stock valued at $403,000 after purchasing an additional 125 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of StoneX Group by 2.2% in the 4th quarter. Maryland State Retirement & Pension System now owns 6,818 shares of the company’s stock valued at $649,000 after buying an additional 144 shares during the period. Finally, Sterling Capital Management LLC grew its stake in shares of StoneX Group by 48.7% in the 1st quarter. Sterling Capital Management LLC now owns 476 shares of the company’s stock valued at $38,000 after buying an additional 156 shares during the period. 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 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.