Hiddenite Capital Partners LP Acquires New Position in StoneX Group Inc. $SNEX

Key Points

• Hiddenite Capital Partners LP acquired 45,000 shares of StoneX Group Inc. valued at approximately $3.4 million, making it 1.2% of their overall holdings.
• Several institutional investors, including Evergreen Capital Management and Champlain Investment Partners, have increased their stakes in StoneX Group during the first quarter of this year.
• Zacks Research upgraded StoneX Group to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy" for the stock.

Hiddenite Capital Partners LP acquired a new stake in StoneX Group Inc. (NASDAQ:SNEX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,000 shares of the company's stock, valued at approximately $3,437,000. StoneX Group makes up 1.2% of Hiddenite Capital Partners LP's portfolio, making the stock its 24th biggest position. Hiddenite Capital Partners LP owned about 0.09% of StoneX Group at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SNEX. First Trust Advisors LP boosted its holdings in shares of StoneX Group by 5.2% during the fourth quarter. First Trust Advisors LP now owns 28,771 shares of the company's stock worth $2,819,000 after purchasing an additional 1,411 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of StoneX Group during the fourth quarter worth $263,000. Tudor Investment Corp ET AL acquired a new stake in shares of StoneX Group during the fourth quarter worth $273,000. Northern Trust Corp boosted its holdings in shares of StoneX Group by 9.9% during the fourth quarter. Northern Trust Corp now owns 335,456 shares of the company's stock worth $32,865,000 after purchasing an additional 30,248 shares during the last quarter. Finally, Lido Advisors LLC boosted its holdings in shares of StoneX Group by 29.4% during the fourth quarter. Lido Advisors LLC now owns 3,200 shares of the company's stock worth $314,000 after purchasing an additional 727 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Insider Buying and Selling

In other news, CEO Philip Andrew Smith sold 7,500 shares of StoneX Group stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $83.68, for a total transaction of $627,600.00. Following the sale, the chief executive officer directly owned 327,754 shares of the company's stock, valued at approximately $27,426,454.72. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John Radziwill bought 1,400 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were acquired at an average cost of $85.00 per share, for a total transaction of $119,000.00. Following the completion of the transaction, the chairman owned 100,240 shares of the company's stock, valued at approximately $8,520,400. The trade was a 1.42% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 45,305 shares of company stock valued at $3,859,233. 11.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded StoneX Group to a "strong-buy" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

StoneX Group Stock Up 2.4%

NASDAQ:SNEX traded up $2.46 during mid-day trading on Thursday, hitting $106.62. The company had a trading volume of 134,126 shares, compared to its average volume of 419,891. The business has a fifty day simple moving average of $94.78 and a 200-day simple moving average of $86.47. The company has a current ratio of 2.08, a quick ratio of 1.48 and a debt-to-equity ratio of 1.30. StoneX Group Inc. has a 1 year low of $50.31 and a 1 year high of $106.75. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 18.18 and a beta of 0.56.

StoneX Group (NASDAQ:SNEX - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.17). StoneX Group had a net margin of 0.23% and a return on equity of 16.20%. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $923.10 million. Equities analysts forecast that StoneX Group Inc. will post 8.7 earnings per share for the current fiscal 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.