Wall Street Zen Downgrades StoneX Group (NASDAQ:SNEX) to Hold

StoneX Group (NASDAQ:SNEX) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages have also commented on SNEX. Zacks Research upgraded shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. William Blair reaffirmed an “outperform” rating on shares of StoneX Group in a report on Monday, March 9th. Jefferies Financial Group lifted their target price on StoneX Group from $99.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings raised StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, StoneX Group presently has an average rating of “Buy” and an average price target of $122.00.

StoneX Group Stock Performance

Shares of SNEX opened at $78.36 on Friday. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 17.54 and a beta of 0.42. StoneX Group has a 52-week low of $43.33 and a 52-week high of $88.38. The company has a quick ratio of 1.34, a current ratio of 1.80 and a debt-to-equity ratio of 1.34. The stock has a 50 day moving average price of $112.31 and a 200 day moving average price of $101.44.

StoneX Group (NASDAQ:SNEX) last released its quarterly earnings data on Wednesday, February 4th. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.44. StoneX Group had a net margin of 0.25% and a return on equity of 16.43%. The company had revenue of $724.00 million for the quarter, compared to analysts’ expectations of $1.24 billion. Research analysts predict that StoneX Group will post 8.7 EPS for the current fiscal year.

Insider Activity at StoneX Group

In other news, insider Mark Lowry Maurer sold 40,000 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $124.88, for a total transaction of $4,995,200.00. Following the transaction, the insider directly owned 90,331 shares in the company, valued at $11,280,535.28. The trade was a 30.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Sean Michael Oconnor sold 40,000 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $124.95, for a total transaction of $4,998,000.00. Following the transaction, the chairman directly owned 854,127 shares of the company’s stock, valued at $106,723,168.65. This represents a 4.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 120,125 shares of company stock worth $14,983,688 in the last 90 days. Corporate insiders own 11.79% of the company’s stock.

Institutional Investors Weigh In On StoneX Group

A number of institutional investors have recently added to or reduced their stakes in SNEX. Vanguard Group Inc. raised its stake in shares of StoneX Group by 34.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,020,305 shares of the company’s stock worth $405,729,000 after buying an additional 1,027,489 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of StoneX Group by 18.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,851,468 shares of the company’s stock valued at $271,261,000 after buying an additional 439,771 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in shares of StoneX Group by 383.8% in the third quarter. Hennessy Advisors Inc. now owns 542,800 shares of the company’s stock valued at $54,779,000 after buying an additional 430,600 shares in the last quarter. Goldentree Asset Management LP acquired a new position in StoneX Group during the second quarter worth $32,482,000. Finally, T. Rowe Price Investment Management Inc. grew 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 worth $142,628,000 after acquiring an additional 294,203 shares during the period. 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.