StoneX Group (NASDAQ:SNEX) Stock Price Down 6.1% – Should You Sell?

StoneX Group Inc. (NASDAQ:SNEX) shares fell 6.1% during trading on Friday . The company traded as low as $103.65 and last traded at $104.16. 591,938 shares were traded during trading, a decline of 21% from the average session volume of 750,250 shares. The stock had previously closed at $110.88.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SNEX. Weiss Ratings lowered StoneX Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Zacks Research downgraded StoneX Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Wall Street Zen raised StoneX Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 5th. Three research 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.33.

StoneX Group Stock Down 7.1%

The company has a market cap of $8.16 billion, a P/E ratio of 18.40 and a beta of 0.65. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.33 and a current ratio of 1.74. The business’s fifty day moving average is $80.13 and its two-hundred day moving average is $74.22.

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

StoneX Group (NASDAQ:SNEX) last issued its earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.31. StoneX Group had a net margin of 0.30% and a return on equity of 19.31%. The business had revenue of $826.40 million for the quarter, compared to analyst estimates of $1.37 billion. Equities analysts predict that StoneX Group Inc. will post 6 EPS for the current year.

Insider Buying and Selling

In other StoneX Group news, insider Mark Lowry Maurer sold 52,059 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.21, for a total value of $4,696,068.86. Following the completion of the sale, the insider directly owned 220,557 shares in the company, valued at approximately $19,895,711.78. This represents a 19.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Sean Michael Oconnor sold 210,105 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $73.54, for a total value of $15,451,121.70. Following the completion of the sale, the chairman owned 1,855,381 shares of the company’s stock, valued at $136,444,718.74. This represents a 10.17% 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 1,098,778 shares of company stock valued at $87,627,996 over the last 90 days. 11.79% of the stock is owned by insiders.

Institutional Trading of StoneX Group

A number of hedge funds have recently added to or reduced their stakes in SNEX. Vanguard Group Inc. raised its holdings in shares of StoneX Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 4,031,545 shares of the company’s stock valued at $383,521,000 after purchasing an additional 11,240 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of StoneX Group by 18.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,851,468 shares of the company’s stock worth $271,261,000 after purchasing an additional 439,771 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of StoneX Group by 50.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,107,795 shares of the company’s stock valued at $169,976,000 after purchasing an additional 704,493 shares in the last quarter. State Street Corp boosted its stake in shares of StoneX Group by 0.3% during the fourth quarter. State Street Corp now owns 1,829,897 shares of the company’s stock valued at $174,078,000 after purchasing an additional 6,220 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in StoneX Group by 24.4% during 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 period. 75.93% of the stock is owned by hedge funds and other institutional investors.

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.