Algert Global LLC Buys 10,444 Shares of StoneX Group Inc. $SNEX

Key Points

• Algert Global LLC has increased its holdings in StoneX Group Inc. by 87.2%, now owning a total of 22,422 shares valued at approximately $1.71 million.
• Other institutional investors have also increased their stakes, with notable increases from Ridgewood Investments (50%), GAMMA Investing (92.7%), and IFP Advisors (74,100%).
• StoneX Group has received a strong-buy rating from Zacks Research, contributing to its average rating of "Strong Buy" among analysts.

Algert Global LLC lifted its holdings in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 87.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,422 shares of the company's stock after buying an additional 10,444 shares during the quarter. Algert Global LLC's holdings in StoneX Group were worth $1,713,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new position in shares of StoneX Group in the first quarter valued at about $251,000. Wealth Enhancement Advisory Services LLC raised its holdings in StoneX Group by 51.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,622 shares of the company's stock worth $582,000 after purchasing an additional 2,598 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in StoneX Group by 49.7% during the 1st quarter. Crossmark Global Holdings Inc. now owns 3,351 shares of the company's stock worth $256,000 after purchasing an additional 1,112 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in StoneX Group by 55.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 23,622 shares of the company's stock worth $1,804,000 after purchasing an additional 8,390 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in StoneX Group by 47.2% during the 1st quarter. Bank of New York Mellon Corp now owns 287,633 shares of the company's stock worth $21,969,000 after purchasing an additional 92,293 shares during the last quarter. 75.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman John Radziwill acquired 1,400 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were bought at an average price of $85.00 per share, for a total transaction of $119,000.00. Following the purchase, the chairman directly owned 100,240 shares in the company, valued at approximately $8,520,400. This trade represents a 1.42% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Philip Andrew Smith sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $83.68, for a total value of $627,600.00. Following the sale, the chief executive officer owned 327,754 shares in the company, valued at approximately $27,426,454.72. This represents a 2.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,305 shares of company stock valued at $3,859,233 over the last 90 days. 11.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Zacks Research raised StoneX Group to a "strong-buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Strong Buy".

StoneX Group Trading Up 0.7%

Shares of StoneX Group stock traded up $0.73 during trading on Wednesday, hitting $99.96. 353,505 shares of the company were exchanged, compared to its average volume of 684,932. The firm has a market capitalization of $5.21 billion, a P/E ratio of 17.03 and a beta of 0.57. StoneX Group Inc. has a 1-year low of $50.31 and a 1-year high of $101.09. The firm's fifty day moving average price is $93.20 and its 200 day moving average price is $85.65. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.08 and a quick ratio of 1.48.

StoneX Group (NASDAQ:SNEX - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.22 earnings per share (EPS) 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 analyst estimates of $923.10 million. StoneX Group had a return on equity of 16.20% and a net margin of 0.23%. As a group, sell-side analysts expect that StoneX Group Inc. will post 8.7 earnings per share for the current fiscal year.

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.