Lord Abbett & CO. LLC Takes Position in StoneX Group Inc. $SNEX

Key Points

• Lord Abbett & CO. LLC acquired a new stake in StoneX Group Inc., purchasing 340,937 shares valued at approximately $26 million, representing about 0.71% of the company's total stock.
• Insiders seem to be adjusting their positions, with Abigail H. Perkins selling 16,098 shares while Chairman John Radziwill purchased 1,400 shares, reflecting differing confidence levels in the stock.
• Zacks Research has upgraded StoneX Group to a "strong-buy" rating, which may influence investor sentiment positively.

Lord Abbett & CO. LLC acquired a new stake in StoneX Group Inc. (NASDAQ:SNEX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 340,937 shares of the company's stock, valued at approximately $26,041,000. Lord Abbett & CO. LLC owned about 0.71% of StoneX Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ridgewood Investments LLC grew its holdings in shares of StoneX Group by 50.0% during the first 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 bought a new position in shares of StoneX Group during the first quarter valued at approximately $47,000. GAMMA Investing LLC grew its holdings in shares of StoneX Group by 92.7% during the first 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 grew its holdings in shares of StoneX Group by 74,100.0% during the first 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 grew its holdings in shares of StoneX Group by 78.4% during the first 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. 75.93% of the stock is owned by institutional investors.

Insider Transactions at StoneX Group

In other StoneX Group news, CEO Philip Andrew Smith sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $83.68, for a total value of $627,600.00. Following the completion of the sale, the chief executive officer directly owned 327,754 shares in the company, valued at $27,426,454.72. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Abigail H. Perkins sold 10,470 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $86.22, for a total value of $902,723.40. Following the completion of the sale, the insider owned 43,913 shares of the company's stock, valued at $3,786,178.86. This trade represents a 19.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,305 shares of company stock valued at $3,859,233. 11.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

StoneX Group Price Performance

SNEX traded up $2.51 during trading on Tuesday, reaching $96.50. The stock had a trading volume of 672,899 shares, compared to its average volume of 419,125. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 16.44 and a beta of 0.57. The company has a quick ratio of 1.48, a current ratio of 2.08 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 $100.40. The stock has a 50 day moving average of $91.43 and a two-hundred day moving average of $84.72.

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

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.