StoneX Group (NASDAQ:SNEX) Reaches New 12-Month High After Analyst Upgrade

StoneX Group Inc. (NASDAQ:SNEX)’s share price hit a new 52-week high during mid-day trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $127.63 and last traded at $125.0090, with a volume of 737692 shares changing hands. The stock had previously closed at $120.54.

A number of other research firms have also recently weighed in on SNEX. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of StoneX Group in a research note on Monday, December 29th. 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 report on Monday, February 2nd. Finally, Wall Street Zen upgraded shares of StoneX Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, StoneX Group has an average rating of “Buy” and an average target price of $122.00.

Insiders Place Their Bets

In other StoneX Group news, insider Diego Rotsztain sold 2,029 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $94.50, for a total transaction of $191,740.50. Following the sale, the insider owned 15,498 shares in the company, valued at approximately $1,464,561. This represents a 11.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Charles M. Lyon sold 30,000 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $124.78, for a total value of $3,743,400.00. Following the transaction, the president directly owned 150,330 shares of the company’s stock, valued at $18,758,177.40. The trade was a 16.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 116,979 shares of company stock valued at $14,419,857. Corporate insiders own 11.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of StoneX Group by 34.3% in the third quarter. Vanguard Group Inc. now owns 4,020,305 shares of the company’s stock valued at $405,729,000 after purchasing an additional 1,027,489 shares during the period. Hennessy Advisors Inc. boosted its stake in StoneX Group by 383.8% in the 3rd quarter. Hennessy Advisors Inc. now owns 542,800 shares of the company’s stock worth $54,779,000 after buying an additional 430,600 shares during the last quarter. American Century Companies Inc. boosted its stake in StoneX Group by 19.8% in the 2nd quarter. American Century Companies Inc. now owns 2,352,849 shares of the company’s stock worth $214,439,000 after buying an additional 389,132 shares during the last quarter. Goldentree Asset Management LP purchased a new stake in StoneX Group in the 2nd quarter valued at about $32,482,000. Finally, JPMorgan Chase & Co. increased its stake in shares of StoneX Group by 71.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 612,325 shares of the company’s stock valued at $55,807,000 after acquiring an additional 256,081 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

StoneX Group Stock Performance

The company has a market cap of $6.55 billion, a price-to-earnings ratio of 18.65 and a beta of 0.45. 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 stock’s 50 day moving average price is $104.76 and its 200 day moving average price is $98.26.

StoneX Group’s stock is scheduled to split on Monday, March 23rd. The 3-2 split was announced on Thursday, February 5th. The newly minted shares will be payable to shareholders after the market closes on Tuesday, March 10th.

StoneX Group (NASDAQ:SNEX) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.06 by $0.44. The firm had revenue of $724.00 million for the quarter, compared to analyst estimates of $1.24 billion. StoneX Group had a net margin of 0.25% and a return on equity of 16.43%. On average, analysts expect that StoneX Group Inc. will post 8.7 EPS for the current fiscal year.

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.