Zacks Research Downgrades StoneX Group (NASDAQ:SNEX) to Hold
by Amy Steele · The Cerbat GemStoneX Group (NASDAQ:SNEX – Get Free Report) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.
Several other equities analysts have also weighed in on SNEX. Weiss Ratings downgraded shares of StoneX Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. Wall Street Zen downgraded shares of StoneX Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group lowered shares of StoneX Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $123.00 to $112.00 in a research note on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $112.00.
Read Our Latest Research Report on SNEX
StoneX Group Stock Performance
SNEX stock opened at $66.00 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.82 and a debt-to-equity ratio of 1.45. The firm has a market cap of $7.96 billion, a PE ratio of 15.76 and a beta of 0.62. The business has a 50 day moving average of $68.54 and a 200-day moving average of $71.77. StoneX Group has a 12-month low of $36.45 and a 12-month high of $94.66.
StoneX Group (NASDAQ:SNEX – Get Free Report) last posted its quarterly earnings data 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 20.18% and a net margin of 0.33%.The business had revenue of $39.71 billion for the quarter, compared to analysts’ expectations of $1.32 billion. As a group, sell-side analysts expect that StoneX Group will post 4.35 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Mark Maurer sold 52,648 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $66.25, for a total transaction of $3,487,930.00. Following the sale, the insider directly owned 236,964 shares in the company, valued at approximately $15,698,865. The trade was a 18.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Diego Rotsztain sold 30,327 shares of StoneX Group stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $68.83, for a total value of $2,087,407.41. Following the transaction, the insider directly owned 55,168 shares of the company’s stock, valued at $3,797,213.44. The trade was a 35.47% 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. Insiders sold 731,928 shares of company stock worth $51,626,582 in the last 90 days. 11.79% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. CX Institutional increased its holdings in shares of StoneX Group by 44,134.2% in the third quarter. CX Institutional now owns 69,890 shares of the company’s stock worth $4,518,000 after purchasing an additional 69,732 shares during the period. Versant Capital Management Inc raised its stake in StoneX Group by 51.1% in the third quarter. Versant Capital Management Inc now owns 630 shares of the company’s stock valued at $41,000 after purchasing an additional 213 shares in the last quarter. WINTON GROUP Ltd lifted its position in StoneX Group by 9.5% during the second quarter. WINTON GROUP Ltd now owns 81,529 shares of the company’s stock valued at $9,661,000 after purchasing an additional 7,078 shares during the last quarter. Engineers Gate Manager LP purchased a new position in StoneX Group in the 2nd quarter worth approximately $488,000. Finally, Integrated Wealth Concepts LLC purchased a new position in StoneX Group in the 2nd quarter worth approximately $111,000. 75.93% of the stock is owned by institutional investors.
About StoneX Group
StoneX Group Inc is a global financial services company that provides execution, clearing, custody, payments, market intelligence and risk-management solutions. Through its businesses, the company serves commercial and institutional clients, asset managers, broker-dealers, government and nonprofit organizations, and retail investors.
StoneX offers access to a broad range of markets and products, including equities, fixed income, foreign exchange, commodities, futures and options. Its services include institutional trading and clearing, physical commodities and hedging solutions, global payments, securities financing, wealth-management support and online trading for individual investors.
The company operates through a global network serving clients across North America, Latin America, Europe, Asia and other international markets.