StoneX Group (NASDAQ:SNEX) Hits New 52-Week High – Still a Buy?
by Renee Jackson · The Cerbat GemStoneX Group Inc. (NASDAQ:SNEX – Get Free Report)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $141.99 and last traded at $139.81, with a volume of 73233 shares trading hands. The stock had previously closed at $139.01.
Wall Street Analyst Weigh In
Several research firms have weighed in on SNEX. Weiss Ratings reissued a “buy (b-)” rating on shares of StoneX Group in a research report on Friday, May 22nd. Wall Street Zen upgraded StoneX Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. Zacks Research raised StoneX Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, William Blair reiterated an “outperform” rating on shares of StoneX Group in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, StoneX Group has an average rating of “Buy” and a consensus price target of $122.00.
StoneX Group Stock Performance
The stock’s 50 day moving average price is $115.20 and its 200 day moving average price is $108.40. The company has a current ratio of 1.74, a quick ratio of 1.33 and a debt-to-equity ratio of 1.27. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 24.65 and a beta of 0.64.
StoneX Group shares are set to split before the market opens on Monday, July 20th. The 3-2 split was announced on Tuesday, May 26th. The newly issued shares will be payable to shareholders after the closing bell on Friday, July 17th.
StoneX Group (NASDAQ:SNEX – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.60 by $0.47. The firm had revenue of $826.40 million during the quarter, compared to analyst estimates of $1.37 billion. StoneX Group had a net margin of 0.30% and a return on equity of 19.31%. On average, analysts expect that StoneX Group Inc. will post 6 EPS for the current fiscal year.
Insider Buying and Selling at StoneX Group
In related news, Director Annabelle G. Bexiga sold 1,500 shares of StoneX Group stock in a transaction on Monday, June 15th. The stock was sold at an average price of $133.36, for a total value of $200,040.00. Following the transaction, the director owned 20,188 shares in the company, valued at approximately $2,692,271.68. This trade represents a 6.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Sean Michael Oconnor sold 75,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $135.42, for a total value of $10,156,500.00. Following the sale, the chairman directly owned 1,086,921 shares of the company’s stock, valued at approximately $147,190,841.82. This trade represents a 6.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 712,479 shares of company stock worth $84,428,969. 11.79% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On StoneX Group
A number of large investors have recently modified their holdings of SNEX. Choreo LLC lifted its position in shares of StoneX Group by 4.5% during the fourth quarter. Choreo LLC now owns 2,764 shares of the company’s stock worth $270,000 after purchasing an additional 118 shares during the last quarter. Xponance Inc. increased its holdings in StoneX Group by 3.6% in the third quarter. Xponance Inc. now owns 3,624 shares of the company’s stock valued at $366,000 after buying an additional 125 shares during the last quarter. Lido Advisors LLC increased its holdings in StoneX Group by 3.2% in the fourth quarter. Lido Advisors LLC now owns 4,050 shares of the company’s stock valued at $403,000 after buying an additional 125 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in StoneX Group by 2.2% during the fourth quarter. Maryland State Retirement & Pension System now owns 6,818 shares of the company’s stock valued at $649,000 after buying an additional 144 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in StoneX Group by 48.7% during the first quarter. Sterling Capital Management LLC now owns 476 shares of the company’s stock valued at $38,000 after buying an additional 156 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.
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.