StoneX Group (NASDAQ:SNEX) Posts Earnings Results, Beats Expectations By $0.47 EPS

StoneX Group (NASDAQ:SNEX) released its earnings results on Wednesday. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.47, FiscalAI reports. The firm had revenue of $826.40 million during the quarter, compared to analysts’ expectations of $1.37 billion. StoneX Group had a return on equity of 16.43% and a net margin of 0.25%.

StoneX Group Stock Down 1.5%

Shares of StoneX Group stock traded down $1.67 during trading hours on Wednesday, reaching $106.39. 656,336 shares of the company’s stock were exchanged, compared to its average volume of 671,733. The company has a 50 day moving average of $102.12 and a two-hundred day moving average of $101.39. StoneX Group has a fifty-two week low of $53.52 and a fifty-two week high of $109.50. 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 has a market cap of $8.37 billion, a P/E ratio of 23.82 and a beta of 0.64.

Insider Activity at StoneX Group

In other news, CEO Philip Andrew Smith sold 30,000 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $92.23, for a total transaction of $2,766,900.00. Following the completion of the transaction, the chief executive officer directly owned 514,719 shares in the company, valued at $47,472,533.37. This represents a 5.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Abigail H. Perkins sold 8,000 shares of the 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 transaction, the insider owned 48,259 shares of the company’s stock, valued at approximately $6,115,380.48. This represents a 14.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 151,550 shares of company stock worth $17,888,228. Corporate insiders own 11.79% of the company’s stock.

Institutional Investors Weigh In On StoneX Group

Several hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC lifted its stake in StoneX Group by 5.8% in the 4th quarter. Corient Private Wealth LLC now owns 2,993 shares of the company’s stock valued at $285,000 after purchasing an additional 163 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of StoneX Group by 24.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,499,292 shares of the company’s stock valued at $142,628,000 after buying an additional 294,203 shares during the last quarter. Van Diest Capital LLC bought a new position in shares of StoneX Group during the 4th quarter worth approximately $218,000. Invesco Ltd. boosted its stake in shares of StoneX Group by 13.1% during the 4th quarter. Invesco Ltd. now owns 611,966 shares of the company’s stock worth $58,216,000 after acquiring an additional 70,886 shares during the period. Finally, Summit Global Investments bought a new position in shares of StoneX Group during the 4th quarter worth approximately $249,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their target price on StoneX Group from $99.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Weiss Ratings upgraded StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Zacks Research cut StoneX Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Wall Street Zen upgraded StoneX Group from a “hold” rating to a “buy” rating in a report 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 equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.00.

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.