Cove Street Capital LLC Has $2.04 Million Stock Position in StoneX Group Inc. $SNEX

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 holdings in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 33.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 26,673 shares of the company's stock after acquiring an additional 6,752 shares during the period. StoneX Group accounts for about 3.2% of Cove Street Capital LLC's holdings, making the stock its 9th biggest position. Cove Street Capital LLC owned 0.05% of StoneX Group worth $2,037,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions 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 buying an additional 150 shares during the last quarter. Simplex Trading LLC purchased a new position in shares of StoneX Group during the 1st quarter worth about $47,000. GAMMA Investing LLC boosted its position in shares of StoneX Group by 92.7% in the first quarter. GAMMA Investing LLC now owns 742 shares of the company's stock worth $57,000 after acquiring an additional 357 shares during the last quarter. IFP Advisors Inc grew its holdings in StoneX Group by 74,100.0% in the first quarter. IFP Advisors Inc now owns 742 shares of the company's stock valued at $57,000 after purchasing an additional 741 shares during the period. Finally, CWM LLC increased its position in StoneX Group by 78.4% during the first quarter. CWM LLC now owns 808 shares of the company's stock worth $62,000 after purchasing an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company's stock.

StoneX Group Stock Down 6.4%

Shares of SNEX traded down $6.58 during midday trading on Monday, reaching $96.34. 725,641 shares of the company were exchanged, compared to its average volume of 425,064. StoneX Group Inc. has a 1-year low of $50.31 and a 1-year high of $106.98. The stock has a 50-day moving average price of $95.28 and a 200-day moving average price of $86.84. 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 cap of $5.03 billion, a price-to-earnings ratio of 16.41 and a beta of 0.56.

StoneX Group (NASDAQ:SNEX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.17). The business had revenue of $1.02 billion for 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%. Research analysts expect that StoneX Group Inc. will post 8.7 earnings per share for the current year.

Insider Buying and Selling at StoneX Group

In other news, insider Abigail H. Perkins sold 10,470 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $86.22, for a total transaction of $902,723.40. Following the sale, the insider directly owned 43,913 shares in the company, valued at approximately $3,786,178.86. This represents a 19.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip Andrew Smith sold 7,500 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $83.68, for a total transaction of $627,600.00. Following the transaction, the chief executive officer directly owned 327,754 shares of the company's stock, valued at $27,426,454.72. The trade was a 2.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,305 shares of company stock worth $3,859,233 in the last quarter. 11.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of 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 given a Buy rating to the company. According to data from MarketBeat.com, StoneX Group presently has a consensus rating of "Strong Buy".

StoneX Group Company 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.