Empowered Funds LLC Takes $34.28 Million Position in StoneX Group Inc. $SNEX

Key Points

• Empowered Funds LLC acquired 289,293 StoneX Group shares worth approximately $34.28 million, giving it a 0.24% stake. Institutional investors collectively own 75.93% of SNEX.
• StoneX insiders have been selling shares, including Chairman Sean Michael Oconnor’s $10.16 million sale and CEO Philip Andrew Smith’s $6.12 million sale; insiders sold about $79.45 million worth over the past three months.
• SNEX recently traded at $68.35 after reporting quarterly EPS of $1.00, beating estimates of $0.86. Analysts maintain a consensus “Buy” rating with a $112 price target, although Jefferies downgraded the stock to “Hold.”

Empowered Funds LLC bought a new position in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 289,293 shares of the company's stock, valued at approximately $34,281,000. Empowered Funds LLC owned 0.24% of StoneX Group as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SNEX. Rakuten Securities Inc. acquired a new position in StoneX Group during the second quarter worth $26,000. Cassaday & Co Wealth Management LLC acquired a new position in StoneX Group during the 1st quarter valued at about $34,000. Sterling Capital Management LLC increased its holdings in StoneX Group by 48.7% during the 1st quarter. Sterling Capital Management LLC now owns 476 shares of the company's stock worth $38,000 after purchasing an additional 156 shares in the last quarter. Basecamp Wealth Advisors LLC raised its stake in shares of StoneX Group by 49.7% in the first quarter. Basecamp Wealth Advisors LLC now owns 512 shares of the company's stock worth $41,000 after purchasing an additional 170 shares during the last quarter. Finally, Transamerica Financial Advisors LLC lifted its holdings in shares of StoneX Group by 183.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 433 shares of the company's stock valued at $41,000 after purchasing an additional 280 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Sean Michael Oconnor sold 112,500 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $90.28, for a total value of $10,156,500.00. Following the sale, the chairman owned 1,630,381 shares in the company, valued at approximately $147,190,796.68. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Philip Andrew Smith sold 77,310 shares of StoneX Group stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $79.15, for a total value of $6,118,828.80. Following the sale, the chief executive officer directly owned 738,216 shares of the company's stock, valued at $58,427,335.68. This represents a 9.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,002,340 shares of company stock worth $79,453,640. Company insiders own 11.79% of the company's stock.

StoneX Group Stock Down 1.3%

SNEX opened at $68.35 on Friday. The company has a 50 day moving average of $75.38 and a 200 day moving average of $74.19. The company has a market cap of $8.24 billion, a PE ratio of 16.32 and a beta of 0.66. StoneX Group Inc. has a 12 month low of $36.45 and a 12 month high of $94.66. The company has a current ratio of 1.82, a quick ratio of 1.39 and a debt-to-equity ratio of 1.45.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.86 by $0.14. StoneX Group had a net margin of 0.33% and a return on equity of 20.18%. The company had revenue of $719.70 million during the quarter, compared to analysts' expectations of $1.32 billion. On average, sell-side analysts expect that StoneX Group Inc. will post 4.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings cut StoneX Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Jefferies Financial Group lowered shares of StoneX Group from a "buy" rating to a "hold" rating and dropped their price target for the company from $123.00 to $112.00 in a research report on Monday, July 20th. Zacks Research upgraded shares of StoneX Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut shares of StoneX Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, StoneX Group presently has a consensus rating of "Buy" and a consensus target price of $112.00.

StoneX Group Company Profile

StoneX Group Inc NASDAQ: SNEX is a global financial services firm offering execution, risk management, advisory and post-trade solutions across commodities, currencies, securities and digital assets. The company serves commercial businesses, institutional clients and financial intermediaries, providing market access and tailored services designed to help clients manage price risk, optimize working capital and execute complex transactions.

StoneX operates through several core segments.

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