Harbor Capital Advisors Inc. Sells 30,311 Shares of StoneX Group Inc. $SNEX

Key Points

• Harbor Capital Advisors Inc. has reduced its stake in StoneX Group Inc. by 7.7% in Q2, owning a total of 364,592 shares after selling 30,311 shares.
• StoneX Group reported earnings of $1.22 per share, missing the consensus estimate of $1.39, while total revenue for the quarter reached $1.02 billion, surpassing expectations.
• Institutional investors own 75.93% of StoneX Group's stock, with increased investments from various funds, including a 38.2% growth by Voya Investment Management in Q1.

Harbor Capital Advisors Inc. trimmed its holdings in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 364,592 shares of the company's stock after selling 30,311 shares during the quarter. StoneX Group makes up about 1.4% of Harbor Capital Advisors Inc.'s portfolio, making the stock its 2nd biggest position. Harbor Capital Advisors Inc. owned 0.75% of StoneX Group worth $33,229,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SNEX. Vanguard Group Inc. increased its holdings in shares of StoneX Group by 51.3% in 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 period. American Century Companies Inc. increased its holdings in shares of StoneX Group by 93.6% in the first quarter. American Century Companies Inc. now owns 1,963,717 shares of the company's stock valued at $149,989,000 after purchasing an additional 949,486 shares during the last quarter. Perpetual Ltd purchased a new position in StoneX Group in the first quarter worth approximately $64,679,000. Dimensional Fund Advisors LP grew its position in StoneX Group by 41.8% in the first 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 during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of StoneX Group by 82.8% during the first quarter. Ameriprise Financial Inc. now owns 914,212 shares of the company's stock worth $69,828,000 after buying an additional 414,204 shares during the period. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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 assigned a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Strong Buy".

Insiders Place Their Bets

In related news, Director John Moore Fowler sold 1,125 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.00, for a total transaction of $108,000.00. Following the sale, the director owned 115,749 shares in the company, valued at $11,111,904. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.70% of the stock is currently owned by company insiders.

StoneX Group Trading Down 3.3%

SNEX traded down $3.18 during trading on Friday, hitting $92.75. The company's stock had a trading volume of 1,473,418 shares, compared to its average volume of 463,421. The stock has a market cap of $4.84 billion, a PE ratio of 15.80 and a beta of 0.56. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.08 and a quick ratio of 1.48. The firm's 50 day moving average price is $95.63 and its 200-day moving average price is $87.78. StoneX Group Inc. has a twelve month low of $53.21 and a twelve month high of $106.98.

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). The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $923.10 million. StoneX Group had a return on equity of 16.20% and a net margin of 0.23%. On average, analysts expect that StoneX Group Inc. will post 8.7 earnings per share 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.