StoneX Group (NASDAQ:SNEX) Shares Down 8.4% – Here’s What Happened

by · The Markets Daily

StoneX Group Inc. (NASDAQ:SNEX – Get Free Report) traded down 8.4% on Friday . The stock traded as low as $109.36 and last traded at $109.57. 224,573 shares were traded during mid-day trading, a decline of 37% from the average session volume of 356,118 shares. The stock had previously closed at $119.56.

Analyst Upgrades and Downgrades

SNEX has been the topic of a number of research analyst reports. Wall Street Zen upgraded StoneX Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings raised StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Jefferies Financial Group boosted their price objective on shares of StoneX Group from $99.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Zacks Research raised shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat, StoneX Group presently has an average rating of “Buy” and a consensus target price of $122.00.

Read Our Latest Research Report on StoneX Group

StoneX Group Trading Down 9.6%

The business has a 50-day moving average of $114.03 and a 200 day moving average of $101.93. The stock has a market cap of $5.67 billion, a PE ratio of 16.13 and a beta of 0.42. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.34 and a current ratio of 1.80.

StoneX Group shares are scheduled to split on the morning of Monday, March 23rd. The 3-2 split was announced on Thursday, February 5th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, March 10th.

StoneX Group (NASDAQ:SNEX – Get Free Report) last issued its quarterly 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 business had revenue of $724.00 million during the quarter, compared to the consensus estimate of $1.24 billion. StoneX Group had a net margin of 0.25% and a return on equity of 16.43%. Equities research analysts predict that StoneX Group Inc. will post 8.7 EPS for the current fiscal year.

Insider Transactions at StoneX Group

In other StoneX Group news, President Charles M. Lyon sold 30,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $124.78, for a total transaction of $3,743,400.00. Following the transaction, the president owned 150,330 shares of the company’s stock, valued at $18,758,177.40. This represents a 16.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Moore Fowler sold 1,125 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $112.70, for a total value of $126,787.50. Following the sale, the director owned 113,765 shares in the company, valued at $12,821,315.50. This trade represents a 0.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 124,979 shares of company stock worth $15,433,617 in the last three months. 11.79% of the stock is currently owned by company insiders.

Institutional Trading of StoneX Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of StoneX Group by 129.0% during the 1st quarter. Royal Bank of Canada now owns 77,545 shares of the company’s stock worth $5,923,000 after acquiring an additional 43,678 shares during the period. NewEdge Advisors LLC purchased a new stake in StoneX Group in the first quarter valued at approximately $449,000. Goldman Sachs Group Inc. increased its position in 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 purchasing an additional 13,815 shares during the last quarter. United Services Automobile Association acquired a new position in StoneX Group during the first quarter worth approximately $210,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in StoneX Group by 55.1% during 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 during the period. Hedge funds and other institutional investors own 75.93% of the company’s stock.

About StoneX Group

(Get Free Report)

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.

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