Hennessy Advisors Inc. Purchases Shares of 112,200 StoneX Group Inc. $SNEX

Key Points

• Hennessy Advisors Inc. has acquired 112,200 shares of StoneX Group Inc., worth approximately $10.2 million, increasing its stake to 0.23% as of the latest SEC filing.
• Recent activity among hedge funds shows significant increases in their holdings in StoneX Group, with Ridgewood Investments LLC raising its stake by 50% in the first quarter.
• StoneX Group's shares have been rated with a "strong-buy" by Zacks Research, while the company reported a miss on earnings expectations in its most recent quarterly results.

Hennessy Advisors Inc. purchased a new stake in StoneX Group Inc. (NASDAQ:SNEX - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 112,200 shares of the company's stock, valued at approximately $10,226,000. Hennessy Advisors Inc. owned about 0.23% of StoneX Group as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SNEX. Ridgewood Investments LLC boosted its holdings in shares of StoneX Group by 50.0% in the 1st quarter. Ridgewood Investments LLC now owns 450 shares of the company's stock valued at $34,000 after purchasing an additional 150 shares during the last quarter. Simplex Trading LLC acquired a new position in shares of StoneX Group in the 1st quarter valued at $47,000. GAMMA Investing LLC boosted its holdings in shares of StoneX Group by 92.7% in the 1st quarter. GAMMA Investing LLC now owns 742 shares of the company's stock valued at $57,000 after purchasing an additional 357 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of StoneX Group by 74,100.0% in the 1st 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 last quarter. Finally, CWM LLC boosted its holdings in shares of StoneX Group by 78.4% in the 1st quarter. CWM LLC now owns 808 shares of the company's stock valued at $62,000 after purchasing an additional 355 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Insider Transactions at StoneX Group

In related news, Director John Moore Fowler sold 1,125 shares of StoneX Group stock in a transaction on 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 of the company's stock, valued at $11,111,904. The trade was a 0.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 11.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SNEX shares. Zacks Research upgraded shares of StoneX Group to a "strong-buy" rating in a report on Friday, August 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of StoneX Group in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy".

StoneX Group Stock Performance

Shares of SNEX stock opened at $101.05 on Friday. The company's fifty day simple moving average is $96.59 and its 200-day simple moving average is $89.40. StoneX Group Inc. has a 52 week low of $54.60 and a 52 week high of $106.98. 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 $5.27 billion, a PE ratio of 17.21 and a beta of 0.51.

StoneX Group (NASDAQ:SNEX - Get Free Report) last released 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). StoneX Group had a return on equity of 16.20% and a net margin of 0.23%.The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $923.10 million. As a group, equities research analysts anticipate that StoneX Group Inc. will post 8.7 EPS for the current year.

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.

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