Jacobs Levy Equity Management Inc. Trims Holdings in StoneX Group Inc. $SNEX

Key Points

• Jacobs Levy Equity Management Inc. reduced its holdings in StoneX Group Inc. by 77.2% in Q1, selling 28,694 shares and now only holding 8,455 shares valued at approximately $646,000.
• Several other institutional investors have increased their stakes in StoneX Group, with Hancock Whitney Corp raising its stake by 71.7% and Bridgeway Capital Management LLC by 50.0% during the same period.
• StoneX Group's stock underperformed in its latest earnings report, missing earnings per share estimates by $0.17 while reporting revenue of $1.02 billion, exceeding expectations.

Jacobs Levy Equity Management Inc. lowered its position in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 77.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,455 shares of the company's stock after selling 28,694 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in StoneX Group were worth $646,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new position in StoneX Group in the 1st quarter worth approximately $251,000. Wealth Enhancement Advisory Services LLC grew its stake in StoneX Group by 51.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,622 shares of the company's stock worth $582,000 after buying an additional 2,598 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in StoneX Group by 49.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 3,351 shares of the company's stock worth $256,000 after buying an additional 1,112 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in StoneX Group by 55.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 23,622 shares of the company's stock worth $1,804,000 after buying an additional 8,390 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in StoneX Group by 47.2% in the 1st quarter. Bank of New York Mellon Corp now owns 287,633 shares of the company's stock worth $21,969,000 after buying an additional 92,293 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of StoneX Group to a "strong-buy" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, StoneX Group presently has an average rating of "Strong Buy".

StoneX Group Trading Up 1.8%

NASDAQ SNEX traded up $1.68 during trading on Thursday, hitting $95.93. The company had a trading volume of 671,000 shares, compared to its average volume of 458,962. 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 one year low of $53.21 and a one year high of $106.98. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 16.34 and a beta of 0.56. The company's fifty day moving average is $95.60 and its 200-day moving average is $87.68.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued 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 return on equity of 16.20% and a net margin of 0.23%.The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $923.10 million. On average, sell-side analysts predict 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, Director John Moore Fowler sold 1,125 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.00, for a total value of $108,000.00. Following the sale, the director directly owned 115,749 shares of the company's stock, valued at $11,111,904. This represents a 0.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.70% of the stock is owned by corporate insiders.

StoneX Group 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.