StoneX Group (NASDAQ:SNEX) Cut to “Hold” at Zacks Research

Zacks Research cut shares of StoneX Group (NASDAQ:SNEX) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Jefferies Financial Group boosted their price target on shares of StoneX Group from $99.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Weiss Ratings upgraded shares of StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. William Blair reaffirmed an “outperform” rating on shares of StoneX Group in a research note on Monday, March 9th. Finally, Wall Street Zen raised shares of StoneX Group from a “hold” rating to a “buy” rating in a research note on Sunday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.00.

StoneX Group Stock Performance

SNEX opened at $91.62 on Monday. The firm has a market capitalization of $7.21 billion, a PE ratio of 20.51 and a beta of 0.42. StoneX Group has a twelve month low of $45.58 and a twelve month high of $92.09. The firm’s 50-day moving average price is $108.43 and its 200 day moving average price is $100.85. 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 posted its quarterly earnings results 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. The firm had revenue of $724.00 million for the quarter, compared to analyst estimates of $1.24 billion. StoneX Group had a net margin of 0.25% and a return on equity of 16.43%. As a group, sell-side analysts expect that StoneX Group will post 8.7 EPS for the current fiscal year.

Insider Activity at StoneX Group

In other StoneX Group news, Chairman Sean Michael Oconnor sold 40,000 shares of StoneX Group stock in a transaction dated Monday, February 9th. The shares were 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. The trade was a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Abigail H. Perkins sold 8,000 shares of StoneX Group 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 directly owned 48,259 shares in the company, valued at $6,115,380.48. This trade represents a 14.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 120,125 shares of company stock valued at $14,983,688 over the last ninety days. Corporate insiders own 11.79% of the company’s stock.

Institutional Investors Weigh In On StoneX Group

Institutional investors have recently made changes to their positions in the stock. Private Trust Co. NA increased its position in shares of StoneX Group by 2,109.1% during 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 last quarter. Cornerstone Planning Group LLC increased its position in shares of StoneX Group by 4,133.3% during the third quarter. Cornerstone Planning Group LLC now owns 254 shares of the company’s stock valued at $26,000 after acquiring an additional 248 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in shares of StoneX Group by 1,100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 264 shares of the company’s stock valued at $27,000 after acquiring an additional 242 shares during the last quarter. AlphaQuest LLC increased its position in shares of StoneX Group by 28,000.0% during the third quarter. AlphaQuest LLC now owns 281 shares of the company’s stock valued at $28,000 after acquiring an additional 280 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in shares of StoneX Group during the third quarter valued at about $37,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

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.