StoneX Group Inc. $SNEX Shares Purchased by Cove Street Capital LLC

Key Points

• Cove Street Capital LLC increased its stake in StoneX Group Inc. by 33.9%, acquiring an additional 6,752 shares, bringing its total holdings to 26,673 shares, valued at approximately $2,037,000.
• Insider trading activity included Chairman John Radziwill purchasing 1,400 shares, while CEO Philip Andrew Smith sold 7,500 shares, indicating mixed signals on insider sentiment.
• Wall Street analysts have upgraded StoneX Group to a "strong-buy" rating, with the company currently holding a market cap of $5.43 billion and a forecasted earnings per share of 8.7 for the current fiscal year.

Cove Street Capital LLC raised its position in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 33.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,673 shares of the company's stock after purchasing an additional 6,752 shares during the quarter. StoneX Group comprises 3.2% of Cove Street Capital LLC's portfolio, making the stock its 9th largest holding. Cove Street Capital LLC owned about 0.05% of StoneX Group worth $2,037,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNEX. Vanguard Group Inc. lifted its position in shares of StoneX Group by 51.3% during the 1st quarter. Vanguard Group Inc. now owns 2,881,228 shares of the company's stock valued at $220,068,000 after acquiring an additional 976,587 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of StoneX Group by 93.6% during the 1st quarter. American Century Companies Inc. now owns 1,963,717 shares of the company's stock worth $149,989,000 after acquiring an additional 949,486 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of StoneX Group by 41.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,923,494 shares of the company's stock worth $146,915,000 after acquiring an additional 567,196 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in shares of StoneX Group by 16.0% during the 1st quarter. Van Berkom & Associates Inc. now owns 1,408,659 shares of the company's stock worth $107,593,000 after acquiring an additional 193,921 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of StoneX Group by 82.8% in the first quarter. Ameriprise Financial Inc. now owns 914,212 shares of the company's stock valued at $69,828,000 after purchasing an additional 414,204 shares in the last quarter. 75.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director John Moore Fowler sold 1,125 shares of StoneX Group stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.00, for a total transaction of $108,000.00. Following the sale, the director directly owned 115,749 shares of the company's stock, valued at $11,111,904. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John Radziwill acquired 1,400 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were bought at an average cost of $85.00 per share, for a total transaction of $119,000.00. Following the completion of the acquisition, the chairman directly owned 100,240 shares of the company's stock, valued at approximately $8,520,400. This represents a 1.42% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 37,805 shares of company stock valued at $3,231,633 over the last three months. 11.70% of the stock is owned by corporate insiders.

StoneX Group Stock Up 0.2%

NASDAQ SNEX traded up $0.16 during trading on Tuesday, hitting $96.50. 246,096 shares of the company traded hands, compared to its average volume of 423,994. StoneX Group Inc. has a 12 month low of $50.31 and a 12 month high of $106.98. The business has a fifty day simple moving average of $95.39 and a 200 day simple moving average of $86.94. The company has a current ratio of 2.08, a quick ratio of 1.48 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $5.03 billion, a P/E ratio of 16.42 and a beta of 0.56.

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 the consensus estimate of $1.39 by ($0.17). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $923.10 million. StoneX Group had a net margin of 0.23% and a return on equity of 16.20%. As a group, sell-side analysts predict that StoneX Group Inc. will post 8.7 EPS for the current year.

Analysts Set New Price Targets

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

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.