Comerica Bank Boosts Stake in 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 raised its holdings in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 50.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 15,072 shares of the company's stock after acquiring an additional 5,063 shares during the period. Comerica Bank's holdings in StoneX Group were worth $1,151,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC increased its holdings in shares of StoneX Group by 50.0% during the 1st quarter. Ridgewood Investments LLC now owns 450 shares of the company's stock worth $34,000 after buying an additional 150 shares during the last quarter. Simplex Trading LLC acquired a new stake in shares of StoneX Group during the 1st quarter worth $47,000. GAMMA Investing LLC increased its holdings in shares of StoneX Group by 92.7% during the 1st quarter. GAMMA Investing LLC now owns 742 shares of the company's stock worth $57,000 after buying an additional 357 shares during the last quarter. IFP Advisors Inc increased its holdings 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 worth $57,000 after buying an additional 741 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of StoneX Group by 78.4% during the 1st quarter. CWM LLC now owns 808 shares of the company's stock worth $62,000 after buying an additional 355 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

StoneX Group Stock Up 0.5%

StoneX Group stock traded up $0.46 during trading on Wednesday, reaching $96.20. 460,622 shares of the company's stock were exchanged, compared to its average volume of 470,803. The company's 50-day moving average is $95.55 and its two-hundred day moving average is $87.06. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.48 and a current ratio of 2.08. StoneX Group Inc. has a 52-week low of $50.31 and a 52-week high of $106.98. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 16.39 and a beta of 0.56.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other StoneX Group news, insider Abigail H. Perkins sold 10,470 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $86.22, for a total value of $902,723.40. Following the completion of the transaction, the insider directly owned 43,913 shares of the company's stock, valued at $3,786,178.86. This represents a 19.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman John Radziwill acquired 1,400 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was purchased at an average cost of $85.00 per share, with a total value of $119,000.00. Following the completion of the transaction, the chairman owned 100,240 shares in the company, valued at $8,520,400. The trade was a 1.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 37,805 shares of company stock valued at $3,231,633. Company insiders own 11.70% of the company's stock.

StoneX Group Profile

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.