StoneX Group (NASDAQ:SNEX) Stock Price Down 8.4% – Should You Sell?

StoneX Group Inc. (NASDAQ:SNEX) fell 8.4% on Friday . The company traded as low as $109.36 and last traded at $109.57. 224,573 shares traded hands during trading, a decline of 37% from the average session volume of 356,118 shares. The stock had previously closed at $119.56.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on StoneX Group from $99.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Weiss Ratings raised StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Wall Street Zen upgraded shares of StoneX Group from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Zacks Research upgraded StoneX Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $122.00.

StoneX Group Trading Down 8.8%

The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.34 and a current ratio of 1.80. The company’s 50 day moving average is $113.88 and its 200 day moving average is $101.79. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 16.27 and a beta of 0.42.

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

StoneX Group (NASDAQ:SNEX) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $2.50 earnings per share (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, research analysts forecast that StoneX Group Inc. will post 8.7 EPS for the current fiscal year.

Insider Transactions at StoneX Group

In related news, insider Abigail H. Perkins sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $126.72, for a total transaction of $1,013,760.00. Following the completion of the sale, the insider directly owned 48,259 shares of the company’s stock, valued at $6,115,380.48. The trade was a 14.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 completion of the transaction, the president owned 150,330 shares in the company, valued at $18,758,177.40. This represents a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 124,979 shares of company stock worth $15,433,617. 11.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On StoneX Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in StoneX Group by 1,708.4% during the third quarter. Commonwealth Equity Services LLC now owns 72,823 shares of the company’s stock worth $7,349,000 after purchasing an additional 68,796 shares in the last quarter. Milestone Asset Management LLC purchased a new stake in StoneX Group during the third quarter worth approximately $1,885,000. Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of StoneX Group during the 3rd quarter worth approximately $5,944,000. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of StoneX Group by 551.6% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,724 shares of the company’s stock worth $3,202,000 after purchasing an additional 26,855 shares in the last quarter. Finally, Orion Porfolio Solutions LLC purchased a new stake in StoneX Group in the second quarter valued at approximately $1,972,000. 75.93% of the stock is owned by institutional investors.

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.