StoneX Group (NASDAQ:SNEX) Raised to Strong-Buy at Zacks Research
by Amy Steele · The Cerbat GemStoneX Group (NASDAQ:SNEX – Get Free Report) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.
Several other equities analysts also recently commented on the company. Wall Street Zen upgraded StoneX Group from a “hold” rating to a “buy” rating in a research note 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 upgraded StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Finally, Jefferies Financial Group upped their price objective on StoneX Group from $99.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $122.00.
View Our Latest Stock Report on SNEX
StoneX Group Stock Performance
Shares of SNEX stock traded up $15.83 during trading on Tuesday, hitting $122.22. The company’s stock had a trading volume of 279,193 shares, compared to its average volume of 666,545. The company has a market cap of $9.62 billion, a PE ratio of 27.33 and a beta of 0.64. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 1.34. The business has a fifty day moving average of $101.76 and a 200-day moving average of $101.43. StoneX Group has a 52 week low of $53.52 and a 52 week high of $124.20.
StoneX Group (NASDAQ:SNEX – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, beating 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 16.43% and a net margin of 0.25%. As a group, research analysts anticipate that StoneX Group will post 5.8 earnings per share for the current year.
Insider Activity
In other StoneX Group news, Director John Moore Fowler sold 1,050 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $106.25, for a total transaction of $111,562.50. Following the sale, the director owned 171,246 shares in the company, valued at $18,194,887.50. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip Andrew Smith sold 30,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $92.23, for a total value of $2,766,900.00. Following the sale, the chief executive officer owned 514,719 shares in the company, valued at approximately $47,472,533.37. This represents a 5.51% 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 quarter, insiders have sold 151,550 shares of company stock valued at $17,888,228. 11.79% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On StoneX Group
Several institutional investors have recently made changes to their positions in the stock. KBC Group NV lifted its position in shares of StoneX Group by 85.4% during the first quarter. KBC Group NV now owns 2,316 shares of the company’s stock worth $187,000 after acquiring an additional 1,067 shares in the last quarter. Swiss National Bank lifted its position in shares of StoneX Group by 50.5% during the first quarter. Swiss National Bank now owns 131,663 shares of the company’s stock worth $10,619,000 after acquiring an additional 44,188 shares in the last quarter. ANB Bank lifted its position in shares of StoneX Group by 49.2% during the first quarter. ANB Bank now owns 4,329 shares of the company’s stock worth $349,000 after acquiring an additional 1,428 shares in the last quarter. Future Fund LLC raised its position in shares of StoneX Group by 89.8% in the first quarter. Future Fund LLC now owns 33,732 shares of the company’s stock worth $2,720,000 after buying an additional 15,962 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of StoneX Group by 19.2% in the first quarter. Bessemer Group Inc. now owns 195,841 shares of the company’s stock worth $15,795,000 after buying an additional 31,592 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.
StoneX Group Company Profile
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.