Panagora Asset Management Inc. Has $4.02 Million Stake in StoneX Group Inc. $SNEX

Key Points

• Panagora Asset Management Inc. increased its stake in StoneX Group Inc. by 49.3% in Q1, acquiring an additional 17,353 shares, bringing its total ownership to 52,568 shares worth approximately $4,015,000.
• Insider sales included Abigail H. Perkins selling 16,098 shares for about $1.37 million and CEO Philip Andrew Smith selling 7,500 shares for about $627,600, indicating notable insider activity.
• StoneX Group's stock was recently upgraded to a "strong-buy" rating by Zacks Research, reflecting increased analyst confidence in the company's performance.

Panagora Asset Management Inc. grew its stake in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 49.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,568 shares of the company's stock after buying an additional 17,353 shares during the quarter. Panagora Asset Management Inc. owned 0.11% of StoneX Group worth $4,015,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC lifted its position in shares of StoneX Group by 50.0% in the first quarter. Ridgewood Investments LLC now owns 450 shares of the company's stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Simplex Trading LLC bought a new stake in shares of StoneX Group in the first quarter worth $47,000. GAMMA Investing LLC lifted its position in shares of StoneX Group by 92.7% in the first quarter. GAMMA Investing LLC now owns 742 shares of the company's stock worth $57,000 after purchasing an additional 357 shares in the last quarter. IFP Advisors Inc lifted its position in shares of StoneX Group by 74,100.0% in the first quarter. IFP Advisors Inc now owns 742 shares of the company's stock worth $57,000 after purchasing an additional 741 shares in the last quarter. Finally, CWM LLC lifted its position in shares of StoneX Group by 78.4% in the first quarter. CWM LLC now owns 808 shares of the company's stock worth $62,000 after purchasing an additional 355 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Analyst Upgrades and Downgrades

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

StoneX Group Stock Performance

Shares of SNEX traded down $1.64 during trading hours on Friday, hitting $102.92. The company had a trading volume of 613,369 shares, compared to its average volume of 494,404. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 17.53 and a beta of 0.56. The business has a fifty day moving average of $95.28 and a 200-day moving average of $86.80. StoneX Group Inc. has a 12 month low of $50.31 and a 12 month high of $106.98. 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 (NASDAQ:SNEX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.22 earnings per share 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 the consensus estimate of $923.10 million. Equities analysts anticipate that StoneX Group Inc. will post 8.7 EPS for the current fiscal year.

Insider Buying and Selling at StoneX Group

In related 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 transaction, the director directly owned 115,749 shares in the company, 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 SEC, which is accessible through this link. Also, CEO Philip Andrew Smith sold 7,500 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $83.68, for a total transaction of $627,600.00. Following the completion of the transaction, the chief executive officer owned 327,754 shares in the company, valued at $27,426,454.72. This trade represents a 2.24% 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 insiders.

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.