StoneX Group Inc. (NASDAQ:SNEX) Short Interest Up 68.7% in March
by Scott Moore · The Cerbat GemStoneX Group Inc. (NASDAQ:SNEX – Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totaling 3,171,077 shares, an increase of 68.7% from the March 15th total of 1,880,202 shares. Currently, 4.6% of the company’s shares are short sold. Based on an average daily volume of 1,149,138 shares, the days-to-cover ratio is currently 2.8 days.
StoneX Group Stock Up 2.9%
Shares of NASDAQ:SNEX traded up $2.86 during mid-day trading on Tuesday, hitting $102.23. 1,054,227 shares of the company traded hands, compared to its average volume of 996,403. The stock has a market cap of $8.04 billion, a P/E ratio of 22.89 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 has a 12-month low of $52.00 and a 12-month high of $103.05. The stock has a 50-day moving average price of $107.15 and a two-hundred day moving average price of $100.92.
StoneX Group (NASDAQ:SNEX – Get Free Report) last announced its earnings results on Wednesday, February 4th. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.44. The company 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%. On average, equities research analysts forecast that StoneX Group will post 8.7 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Zacks Research lowered StoneX Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. William Blair reissued an “outperform” rating on shares of StoneX Group in a research report on Monday, March 9th. Wall Street Zen raised shares of StoneX Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. Weiss Ratings raised shares of StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Finally, Jefferies Financial Group lifted their price target on shares of 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 issued a Hold rating to the company’s stock. According to MarketBeat, StoneX Group currently has an average rating of “Moderate Buy” and an average target price of $122.00.
Get Our Latest Stock Analysis on SNEX
Insiders Place Their Bets
In other StoneX Group news, insider Mark Lowry Maurer sold 40,000 shares of StoneX Group stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $124.88, for a total value of $4,995,200.00. Following the completion of the sale, the insider directly owned 90,331 shares in the company, valued at approximately $11,280,535.28. The trade was a 30.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Abigail H. Perkins sold 8,000 shares of StoneX Group stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $126.72, for a total value of $1,013,760.00. Following the completion of the sale, the insider owned 48,259 shares of the company’s stock, valued at approximately $6,115,380.48. The trade was a 14.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 150,125 shares of company stock valued at $17,750,588 in the last 90 days. Company insiders own 11.79% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of SNEX. Private Trust Co. NA boosted its position in StoneX Group by 2,109.1% in the third quarter. Private Trust Co. NA now owns 243 shares of the company’s stock worth $25,000 after purchasing an additional 232 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in StoneX Group by 4,133.3% in the third quarter. Cornerstone Planning Group LLC now owns 254 shares of the company’s stock worth $26,000 after purchasing an additional 248 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in StoneX Group by 1,100.0% in the third quarter. Cullen Frost Bankers Inc. now owns 264 shares of the company’s stock worth $27,000 after purchasing an additional 242 shares during the last quarter. AlphaQuest LLC boosted its position in StoneX Group by 28,000.0% in the third quarter. AlphaQuest LLC now owns 281 shares of the company’s stock worth $28,000 after purchasing an additional 280 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in StoneX Group in the third quarter worth $37,000. 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.