StoneX Group (NASDAQ:SNEX) Sets New 52-Week High – Here’s Why

StoneX Group Inc. (NASDAQ:SNEX) hit a new 52-week high on Monday . The company traded as high as $107.92 and last traded at $105.8950, with a volume of 281438 shares traded. The stock had previously closed at $106.14.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SNEX shares. Wall Street Zen upgraded StoneX Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. William Blair restated an “outperform” rating on shares of StoneX Group in a research note on Monday, March 9th. Weiss Ratings upgraded StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Zacks Research cut StoneX Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Jefferies Financial Group upped their price objective on StoneX Group from $99.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, StoneX Group presently has an average rating of “Moderate Buy” and an average target price of $122.00.

StoneX Group Stock Down 1.2%

The company has a 50-day moving average of $102.91 and a 200-day moving average of $101.28. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 23.21 and a beta of 0.42. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 1.34.

StoneX Group (NASDAQ:SNEX) last announced its 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. StoneX Group had a return on equity of 16.43% and a net margin of 0.25%.The company had revenue of $724.00 million for the quarter, compared to analyst estimates of $1.24 billion. On average, equities analysts predict that StoneX Group Inc. will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling at StoneX Group

In other StoneX Group news, insider Abigail H. Perkins sold 8,000 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $126.72, for a total transaction of $1,013,760.00. Following the sale, the insider owned 48,259 shares in the company, valued at approximately $6,115,380.48. The trade was a 14.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip Andrew Smith sold 30,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $92.23, for a total value of $2,766,900.00. Following the sale, the chief executive officer owned 514,719 shares in the company, valued at approximately $47,472,533.37. The trade was a 5.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 151,625 shares of company stock worth $17,903,453. 11.79% of the stock is owned by corporate insiders.

Institutional Trading of StoneX Group

Large investors have recently added to or reduced their stakes in the company. Abel Hall LLC purchased a new stake in shares of StoneX Group in the first quarter worth about $429,000. New York State Teachers Retirement System boosted its stake in shares of StoneX Group by 74.5% in the first quarter. New York State Teachers Retirement System now owns 67,535 shares of the company’s stock worth $5,447,000 after buying an additional 28,844 shares during the last quarter. Strs Ohio boosted its stake in shares of StoneX Group by 66.2% in the first quarter. Strs Ohio now owns 23,100 shares of the company’s stock worth $1,863,000 after buying an additional 9,200 shares during the last quarter. Key Financial Inc boosted its stake in shares of StoneX Group by 49.9% in the first quarter. Key Financial Inc now owns 1,402 shares of the company’s stock worth $113,000 after buying an additional 467 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in shares of StoneX Group by 36.8% in the first quarter. Peregrine Capital Management LLC now owns 67,765 shares of the company’s stock worth $5,465,000 after buying an additional 18,240 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.