StoneX Group (NASDAQ:SNEX) Reaches New 12-Month High – Time to Buy?

StoneX Group Inc. (NASDAQ:SNEX)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $110.56 and last traded at $106.9540, with a volume of 1779 shares trading hands. The stock had previously closed at $106.03.

Analyst Ratings Changes

A number of research firms recently commented on SNEX. Wall Street Zen raised shares of StoneX Group from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. William Blair reiterated an “outperform” rating on shares of StoneX Group in a research note on Monday, March 9th. Weiss Ratings raised shares of StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Zacks Research lowered StoneX Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Jefferies Financial Group lifted their price target on StoneX Group from $99.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.00.

StoneX Group Trading Down 0.2%

The stock’s fifty day moving average price is $106.38 and its 200 day moving average price is $100.98. The stock has a market cap of $8.33 billion, a P/E ratio of 23.69 and a beta of 0.42. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 1.34.

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. The firm had revenue of $724.00 million for the quarter, compared to analysts’ expectations of $1.24 billion. StoneX Group had a return on equity of 16.43% and a net margin of 0.25%. Equities research analysts expect that StoneX Group Inc. will post 8.7 earnings per share for the current year.

Insider Activity at StoneX Group

In other StoneX Group news, Chairman Sean Michael Oconnor sold 40,000 shares of StoneX Group stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $124.95, for a total transaction of $4,998,000.00. Following the transaction, the chairman owned 854,127 shares of the company’s stock, valued at $106,723,168.65. The trade was a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Abigail H. Perkins sold 8,000 shares of StoneX Group stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $126.72, for a total value of $1,013,760.00. Following the sale, the insider directly owned 48,259 shares in the company, valued at $6,115,380.48. This trade represents a 14.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 151,625 shares of company stock valued at $17,903,453 in the last ninety days. Corporate insiders own 11.79% of the company’s stock.

Institutional Trading of StoneX Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SNEX. Royal Bank of Canada grew its holdings in shares of StoneX Group by 129.0% in the first quarter. Royal Bank of Canada now owns 77,545 shares of the company’s stock worth $5,923,000 after purchasing an additional 43,678 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of StoneX Group during the first quarter worth approximately $449,000. Goldman Sachs Group Inc. increased its position in shares of StoneX Group by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 225,711 shares of the company’s stock worth $17,240,000 after acquiring an additional 13,815 shares during the period. United Services Automobile Association purchased a new stake in shares of StoneX Group in the first quarter valued at approximately $210,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in StoneX Group by 55.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,125 shares of the company’s stock worth $8,182,000 after purchasing an additional 38,073 shares in the last quarter. Hedge funds and other 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.