LPL Financial LLC Grows Holdings in StoneX Group Inc. $SNEX

Key Points

• LPL Financial LLC increased its holdings in StoneX Group Inc. by 58.8% in the first quarter, owning approximately $2.89 million in stock after acquiring additional shares.
• CEO Philip Andrew Smith sold 7,500 shares at $83.68 each, while Chairman John Radziwill purchased 1,400 shares at $85.00 each, indicating mixed insider trading activities.
• Analysts have upgraded StoneX Group to a "strong-buy" rating, which reflects positive sentiment regarding the company's future performance despite reporting lower than expected earnings recently.

LPL Financial LLC raised its stake in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,777 shares of the company's stock after buying an additional 13,982 shares during the quarter. LPL Financial LLC owned approximately 0.08% of StoneX Group worth $2,885,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its position in StoneX Group by 4.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,895 shares of the company's stock valued at $284,000 after purchasing an additional 119 shares during the period. Focus Partners Wealth raised its position in StoneX Group by 2.1% in the fourth quarter. Focus Partners Wealth now owns 8,109 shares of the company's stock valued at $794,000 after purchasing an additional 164 shares during the period. Hohimer Wealth Management LLC raised its position in StoneX Group by 4.5% in the first quarter. Hohimer Wealth Management LLC now owns 7,112 shares of the company's stock valued at $543,000 after purchasing an additional 306 shares during the period. CWM LLC raised its position in StoneX Group by 78.4% in 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 period. Finally, GAMMA Investing LLC raised its position in StoneX Group by 92.7% in 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 period. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded StoneX Group to a "strong-buy" rating in a research report 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Strong Buy".

Insider Buying and Selling

In other news, Director John Moore Fowler sold 1,125 shares of the company's stock in a transaction on Friday, August 1st. The stock was 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 approximately $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 can be accessed through the SEC website. Also, Chairman John Radziwill acquired 1,400 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were bought at an average cost of $85.00 per share, for a total transaction of $119,000.00. Following the transaction, the chairman directly owned 100,240 shares of the company's stock, valued at approximately $8,520,400. This trade represents a 1.42% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 45,305 shares of company stock worth $3,859,233 over the last ninety days. Insiders own 11.70% of the company's stock.

StoneX Group Trading Up 3.0%

Shares of SNEX traded up $2.88 during midday trading on Friday, hitting $98.84. 451,123 shares of the stock were exchanged, compared to its average volume of 672,870. StoneX Group Inc. has a 52-week low of $50.31 and a 52-week high of $100.40. The stock has a fifty day simple moving average of $92.38 and a 200 day simple moving average of $85.22. The firm has a market cap of $5.16 billion, a P/E ratio of 16.84 and a beta of 0.57. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.48 and a current ratio of 2.08.

StoneX Group (NASDAQ:SNEX - Get Free Report) last posted its quarterly earnings data 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). 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 for the quarter, compared to analysts' expectations of $923.10 million. On average, research analysts anticipate that StoneX Group Inc. will post 8.7 EPS for the current fiscal 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.