StoneX Group (NASDAQ:SNEX) Stock Rating Lowered by Zacks Research

StoneX Group (NASDAQ:SNEX) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other analysts have also issued reports about the stock. Weiss Ratings raised shares of StoneX Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Wall Street Zen upgraded shares of StoneX Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. Finally, William Blair restated an “outperform” rating on shares of StoneX Group in a research note on Monday, March 9th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, StoneX Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.00.

StoneX Group Stock Down 0.6%

Shares of NASDAQ:SNEX opened at $121.49 on Monday. StoneX Group has a 52-week low of $53.52 and a 52-week high of $141.99. The stock has a market cap of $9.63 billion, a P/E ratio of 21.71 and a beta of 0.65. The business’s 50 day moving average is $119.47 and its 200 day moving average is $110.47. The company has a quick ratio of 1.33, a current ratio of 1.74 and a debt-to-equity ratio of 1.27.

StoneX Group shares are set to split on Monday, July 20th. The 3-2 split was announced on Tuesday, May 26th. The newly minted shares will be issued to shareholders after the closing bell on Friday, July 17th.

StoneX Group (NASDAQ:SNEX) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.60 by $0.47. StoneX Group had a return on equity of 19.31% and a net margin of 0.30%.The firm had revenue of $826.40 million for the quarter, compared to analyst estimates of $1.37 billion. Sell-side analysts predict that StoneX Group will post 6 EPS for the current year.

Insider Activity at StoneX Group

In other news, CEO Philip Andrew Smith sold 51,540 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $118.72, for a total transaction of $6,118,828.80. Following the completion of the sale, the chief executive officer owned 492,144 shares of the company’s stock, valued at $58,427,335.68. This represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Lowry Maurer sold 11,542 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $133.63, for a total transaction of $1,542,357.46. Following the completion of the transaction, the insider directly owned 135,496 shares in the company, valued at $18,106,330.48. This trade represents a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 764,019 shares of company stock worth $90,547,797 over the last 90 days. Corporate insiders own 11.79% of the company’s stock.

Institutional Trading of StoneX Group

Several institutional investors have recently made changes to their positions in SNEX. Royal Bank of Canada lifted its position in StoneX Group by 129.0% in the first quarter. Royal Bank of Canada now owns 77,545 shares of the company’s stock valued at $5,923,000 after buying an additional 43,678 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in StoneX Group during the 1st quarter worth about $449,000. Goldman Sachs Group Inc. lifted its stake 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 shares of StoneX Group in the 1st quarter valued at $210,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 last quarter. 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.