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

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

A number of other equities analysts also recently issued reports on SNEX. Weiss Ratings raised shares of StoneX Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Wall Street Zen raised shares of StoneX Group from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. Finally, William Blair reiterated an “outperform” rating on shares of StoneX Group in a research report on Monday, March 9th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, StoneX Group has a consensus rating of “Moderate Buy” and an average target price of $122.00.

StoneX Group Trading Down 0.6%

NASDAQ:SNEX opened at $121.49 on Monday. The company has a market cap of $9.63 billion, a PE ratio of 21.71 and a beta of 0.65. The company has a current ratio of 1.74, a quick ratio of 1.33 and a debt-to-equity ratio of 1.27. The company has a 50 day simple moving average of $119.47 and a two-hundred day simple moving average of $110.47. StoneX Group has a 12 month low of $53.52 and a 12 month high of $141.99.

StoneX Group’s stock is going to split on Monday, July 20th. The 3-2 split was announced on Tuesday, May 26th. The newly issued shares will be issued 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 EPS for the quarter, topping the consensus estimate of $1.60 by $0.47. The company had revenue of $826.40 million during the quarter, compared to analyst estimates of $1.37 billion. StoneX Group had a return on equity of 19.31% and a net margin of 0.30%. Research analysts forecast that StoneX Group will post 6 earnings per share for the current year.

Insider Activity

In other StoneX Group news, Director Annabelle G. Bexiga sold 1,500 shares of StoneX Group stock in a transaction on Monday, June 15th. The shares were sold at an average price of $133.36, for a total value of $200,040.00. Following the sale, the director directly owned 20,188 shares in the company, valued at approximately $2,692,271.68. The trade was a 6.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Lowry Maurer sold 11,542 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $133.63, for a total value of $1,542,357.46. Following the completion of the sale, the insider owned 135,496 shares in the company, valued at $18,106,330.48. This represents a 7.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 764,019 shares of company stock valued at $90,547,797. Company insiders own 11.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SNEX. Bessemer Group Inc. raised its holdings in shares of StoneX Group by 1,562.1% in the fourth quarter. Bessemer Group Inc. now owns 164,249 shares of the company’s stock worth $15,626,000 after buying an additional 154,367 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in StoneX Group by 18,363.4% in the fourth 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. Leuthold Group LLC lifted its position in shares of StoneX Group by 834.0% during the fourth quarter. Leuthold Group LLC now owns 30,487 shares of the company’s stock worth $2,900,000 after purchasing an additional 27,223 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of StoneX Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,031,545 shares of the company’s stock valued at $383,521,000 after purchasing an additional 11,240 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in shares of StoneX Group by 20.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 23,500 shares of the company’s stock worth $2,236,000 after purchasing an additional 4,064 shares during the last quarter. 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.