StoneX Group (NASDAQ:SNEX) Cut to Hold (C+) at Weiss Ratings

Weiss Ratings cut shares of StoneX Group (NASDAQ:SNEX) from a buy (b-) rating to a hold (c+) rating in a report released on Saturday morning,Weiss Ratings reports.

Separately, Zacks Research cut shares of StoneX Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, StoneX Group has an average rating of “Hold”.

StoneX Group Stock Performance

StoneX Group stock opened at $98.24 on Friday. The firm’s fifty day moving average price is $98.71 and its 200-day moving average price is $92.21. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.48 and a current ratio of 2.08. The stock has a market cap of $5.13 billion, a P/E ratio of 16.74 and a beta of 0.51. StoneX Group has a fifty-two week low of $57.82 and a fifty-two week high of $106.98.

StoneX Group (NASDAQ:SNEX) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.17). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $923.10 million. StoneX Group had a net margin of 0.23% and a return on equity of 16.20%. On average, equities research analysts expect that StoneX Group will post 8.7 earnings per share for the current fiscal year.

Insider Activity

In other StoneX Group news, Director John Moore Fowler sold 1,125 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.00, for a total value of $108,000.00. Following the transaction, the director owned 115,749 shares in the company, valued at approximately $11,111,904. The trade was a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On StoneX Group

A number of hedge funds have recently modified their holdings of SNEX. Private Trust Co. NA increased its position in shares of StoneX Group by 2,109.1% in the third quarter. Private Trust Co. NA now owns 243 shares of the company’s stock valued at $25,000 after acquiring an additional 232 shares during the period. Ridgewood Investments LLC increased its position in shares of StoneX Group by 50.0% during the first quarter. Ridgewood Investments LLC now owns 450 shares of the company’s stock valued at $34,000 after buying an additional 150 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of StoneX Group during the third quarter valued at about $37,000. Nisa Investment Advisors LLC increased its position in shares of StoneX Group by 1,272.7% during the second quarter. Nisa Investment Advisors LLC now owns 453 shares of the company’s stock valued at $41,000 after buying an additional 420 shares during the period. Finally, Simplex Trading LLC purchased a new position in shares of StoneX Group during the first quarter valued at about $47,000. Hedge funds and other institutional investors own 75.93% of the company’s stock.

About StoneX Group

StoneX Group Inc operates as a global financial services network that connects companies, organizations, traders, and investors to market ecosystem worldwide. The company operates through Commercial, Institutional, Retail, and Global Payments segments. The Commercial segment provides risk management and hedging, exchange-traded and OTC products execution and clearing, voice brokerage, market intelligence, physical trading, and commodity financing and logistics services.