Pinnacle Wealth Management LLC Takes Position in StoneX Group Inc. $SNEX

Key Points

• Pinnacle Wealth Management LLC acquired a new stake in StoneX Group Inc., purchasing 9,931 shares valued at approximately $759,000, making it the fund's 21st largest position.
• Zacks Research upgraded StoneX Group to a "strong-buy" rating, indicating positive growth forecasts for the company's stock.
• Insider trading activity included significant sales by Director John Moore Fowler and insider Abigail H. Perkins, with a total of 45,305 shares sold by insiders in the past 90 days.

Pinnacle Wealth Management LLC purchased a new stake in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 9,931 shares of the company's stock, valued at approximately $759,000. StoneX Group comprises approximately 0.9% of Pinnacle Wealth Management LLC's holdings, making the stock its 21st biggest position.

Other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC lifted its holdings in shares of StoneX Group by 50.0% during the 1st quarter. Ridgewood Investments LLC now owns 450 shares of the company's stock valued at $34,000 after buying an additional 150 shares during the last quarter. Simplex Trading LLC acquired a new stake in shares of StoneX Group during the 1st quarter valued at about $47,000. GAMMA Investing LLC lifted its holdings in shares of StoneX Group by 92.7% during the 1st quarter. GAMMA Investing LLC now owns 742 shares of the company's stock valued at $57,000 after buying an additional 357 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of StoneX Group by 74,100.0% during the 1st quarter. IFP Advisors Inc now owns 742 shares of the company's stock valued at $57,000 after buying an additional 741 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of StoneX Group by 78.4% during the 1st quarter. CWM LLC now owns 808 shares of the company's stock valued at $62,000 after buying an additional 355 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

StoneX Group Stock Performance

SNEX traded up $0.17 on Thursday, hitting $95.96. The company had a trading volume of 581,822 shares, compared to its average volume of 420,863. The company's fifty day moving average price is $91.87 and its 200 day moving average price is $84.88. StoneX Group Inc. has a 1-year low of $50.31 and a 1-year high of $100.40. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.08 and a quick ratio of 1.48. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 16.35 and a beta of 0.57.

StoneX Group (NASDAQ:SNEX - Get Free Report) last posted its earnings results 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). The company 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%. Equities analysts predict that StoneX Group Inc. will post 8.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded 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 given a Buy rating to the company's stock. Based on data from MarketBeat.com, StoneX Group has an average rating of "Strong Buy".

Insiders Place Their Bets

In other StoneX Group news, CEO Philip Andrew Smith sold 7,500 shares of StoneX Group 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 transaction, the chief executive officer directly owned 327,754 shares of the company's stock, valued at $27,426,454.72. The trade was a 2.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman John Radziwill purchased 1,400 shares of the company's stock in a transaction on Thursday, June 12th. The stock was 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 in the company, valued at approximately $8,520,400. This trade represents a 1.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 45,305 shares of company stock valued at $3,859,233. Corporate insiders own 11.70% of the company's stock.

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.