StoneX Group (NASDAQ:SNEX) Shares Gap Down – Time to Sell?

Shares of StoneX Group Inc. (NASDAQ:SNEX) gapped down before the market opened on Thursday . The stock had previously closed at $76.02, but opened at $67.24. StoneX Group shares last traded at $69.8140, with a volume of 426,388 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SNEX. Jefferies Financial Group lowered shares of StoneX Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $123.00 to $112.00 in a research report on Monday, July 20th. Zacks Research lowered StoneX Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Weiss Ratings cut shares of StoneX Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $112.00.

StoneX Group Trading Down 12.1%

The business has a fifty day moving average price of $79.86 and a 200-day moving average price of $74.95. 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 company has a market cap of $7.94 billion, a P/E ratio of 17.90 and a beta of 0.66.

StoneX Group (NASDAQ:SNEX) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.14. StoneX Group had a return on equity of 19.31% and a net margin of 0.30%.The business had revenue of $718.00 million during the quarter, compared to analysts’ expectations of $1.32 billion. On average, analysts forecast that StoneX Group Inc. will post 4 earnings per share for the current year.

Insider Activity at StoneX Group

In related news, CFO William J. Dunaway sold 96,025 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $73.64, for a total transaction of $7,071,281.00. Following the transaction, the chief financial officer directly owned 410,379 shares of the company’s stock, valued at approximately $30,220,309.56. This trade represents a 18.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip Andrew Smith sold 77,310 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $79.15, for a total transaction of $6,118,828.80. Following the completion of the sale, the chief executive officer directly owned 738,216 shares of the company’s stock, valued at $58,427,335.68. This represents a 9.48% decrease in their position. 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 three months, insiders have sold 1,455,027 shares of company stock worth $114,078,877. Corporate insiders own 11.79% of the company’s stock.

Hedge Funds Weigh In On StoneX Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNEX. Maridea Wealth Management LLC acquired a new stake in shares of StoneX Group during the 2nd quarter worth $874,000. Summit Global Investments bought a new stake in StoneX Group during the second quarter worth about $1,427,000. Oppenheimer Asset Management Inc. acquired a new stake in StoneX Group during the second quarter worth about $1,863,000. Walleye Capital LLC acquired a new stake in StoneX Group during the second quarter worth about $6,777,000. Finally, Wasatch Advisors LP acquired a new position in shares of StoneX Group in the 2nd quarter valued at approximately $139,730,000. 75.93% of the stock is owned by institutional investors and hedge funds.

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.