StoneX Group (NASDAQ:SNEX) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded StoneX Group from “strong buy” to “hold,” following similar rating cuts from Jefferies, Weiss Ratings and Wall Street Zen. Analysts’ average rating is now “hold,” with an average price target of $112.
• StoneX shares opened at $66.00, well below their 12-month high of $94.66. The company’s latest quarterly results exceeded expectations, reporting adjusted EPS of $1.00 versus the $0.86 consensus estimate.
• Insiders sold approximately 731,928 shares worth $51.6 million over the past three months, while institutional investors own 75.93% of the company’s stock.

StoneX Group (NASDAQ:SNEX - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday, Zacks reports.

A number of other research firms have also weighed in on SNEX. Jefferies Financial Group lowered StoneX Group from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $123.00 to $112.00 in a research note on Monday, July 20th. Weiss Ratings downgraded shares of StoneX Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, September 29th. Finally, Wall Street Zen lowered StoneX Group from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $112.00.

StoneX Group Price Performance

Shares of NASDAQ:SNEX opened at $66.00 on Monday. StoneX Group has a twelve month low of $36.45 and a twelve month high of $94.66. The firm's 50 day moving average price is $68.54 and its 200-day moving average price is $71.77. The stock has a market capitalization of $7.96 billion, a PE ratio of 15.76 and a beta of 0.62. The company has a quick ratio of 1.39, a current ratio of 1.82 and a debt-to-equity ratio of 1.45.

StoneX Group (NASDAQ:SNEX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.14. StoneX Group had a return on equity of 20.18% and a net margin of 0.33%.The business had revenue of $39.71 billion during the quarter, compared to analyst estimates of $1.32 billion. Equities research analysts expect that StoneX Group will post 4.35 EPS for the current year.

Insider Transactions at StoneX Group

In related news, insider Diego Rotsztain sold 20,298 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $67.13, for a total value of $1,362,604.74. Following the completion of the transaction, the insider owned 34,870 shares of the company's stock, valued at $2,340,823.10. The trade was a 36.79% decrease in their ownership of the stock. The sale 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, CFO William J. Dunaway sold 96,490 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $66.35, for a total value of $6,402,111.50. Following the completion of the transaction, the chief financial officer directly owned 502,203 shares of the company's stock, valued at approximately $33,321,169.05. The trade was a 16.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 731,928 shares of company stock valued at $51,626,582 over the last three months. 11.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. CX Institutional lifted its holdings in shares of StoneX Group by 44,134.2% during the 3rd quarter. CX Institutional now owns 69,890 shares of the company's stock valued at $4,518,000 after purchasing an additional 69,732 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of StoneX Group by 51.1% during the third quarter. Versant Capital Management Inc now owns 630 shares of the company's stock worth $41,000 after purchasing an additional 213 shares during the period. WINTON GROUP Ltd boosted its holdings in shares of StoneX Group by 9.5% in the 2nd quarter. WINTON GROUP Ltd now owns 81,529 shares of the company's stock valued at $9,661,000 after acquiring an additional 7,078 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in StoneX Group during the 2nd quarter worth about $488,000. Finally, Integrated Wealth Concepts LLC purchased a new position in StoneX Group during the second quarter valued at approximately $111,000. Institutional investors own 75.93% of the company's stock.

About StoneX Group

StoneX Group Inc is a global financial services company that provides execution, clearing, custody, payments, market intelligence and risk-management solutions. Through its businesses, the company serves commercial and institutional clients, asset managers, broker-dealers, government and nonprofit organizations, and retail investors.

StoneX offers access to a broad range of markets and products, including equities, fixed income, foreign exchange, commodities, futures and options. Its services include institutional trading and clearing, physical commodities and hedging solutions, global payments, securities financing, wealth-management support and online trading for individual investors.

The company operates through a global network serving clients across North America, Latin America, Europe, Asia and other international markets.

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