Comerica Bank Acquires 5,063 Shares of StoneX Group Inc. $SNEX

Key Points

• Comerica Bank increased its stake in StoneX Group Inc. by 50.6%, acquiring an additional 5,063 shares, bringing its total ownership to 15,072 shares valued at approximately $1.15 million.
• Several institutional investors, including Ridgewood Investments and GAMMA Investing LLC, also significantly increased their holdings in StoneX Group during the 1st quarter of 2023.
• Analysts have given StoneX Group a consensus rating of "Strong Buy", with Zacks Research upgrading their rating and recent earnings results showing a miss in EPS expectations while exceeding revenue estimates.

Comerica Bank boosted its holdings in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 50.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,072 shares of the company's stock after purchasing an additional 5,063 shares during the quarter. Comerica Bank's holdings in StoneX Group were worth $1,151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNEX. Ridgewood Investments LLC boosted its stake in StoneX Group by 50.0% in the 1st quarter. Ridgewood Investments LLC now owns 450 shares of the company's stock worth $34,000 after purchasing an additional 150 shares during the period. Simplex Trading LLC bought a new position in shares of StoneX Group during the 1st quarter valued at approximately $47,000. GAMMA Investing LLC boosted its position in shares of StoneX Group by 92.7% during the 1st quarter. GAMMA Investing LLC now owns 742 shares of the company's stock valued at $57,000 after acquiring an additional 357 shares during the last quarter. IFP Advisors Inc boosted its position in shares of StoneX Group by 74,100.0% during the 1st quarter. IFP Advisors Inc now owns 742 shares of the company's stock valued at $57,000 after acquiring an additional 741 shares during the last quarter. Finally, CWM LLC boosted its position in shares of StoneX Group by 78.4% during the 1st quarter. CWM LLC now owns 808 shares of the company's stock valued at $62,000 after acquiring an additional 355 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded StoneX Group to a "strong-buy" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Strong Buy".

Insider Buying and Selling

In related news, Chairman John Radziwill purchased 1,400 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was bought at an average cost of $85.00 per share, for a total transaction of $119,000.00. Following the completion of the transaction, the chairman directly owned 100,240 shares in the company, valued at $8,520,400. This represents a 1.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Moore Fowler sold 1,125 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.00, for a total value of $108,000.00. Following the completion of the sale, the director owned 115,749 shares of the company's stock, valued at approximately $11,111,904. This represents a 0.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,305 shares of company stock valued at $3,859,233 in the last three months. Corporate insiders own 11.70% of the company's stock.

StoneX Group Stock Up 0.4%

Shares of SNEX opened at $104.56 on Friday. The company has a market cap of $5.45 billion, a PE ratio of 17.81 and a beta of 0.56. The business has a fifty day moving average of $95.05 and a 200 day moving average of $86.65. StoneX Group Inc. has a 52-week low of $50.31 and a 52-week high of $106.98. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 1.30.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.39 by ($0.17). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $923.10 million. StoneX Group had a return on equity of 16.20% and a net margin of 0.23%. On average, sell-side analysts expect that StoneX Group Inc. will post 8.7 EPS for the current 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.

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