StoneX Group Inc. $SNEX Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in StoneX Group Inc. by 72.6% during the first quarter, holding approximately 28,386 shares valued at $2.17 million as of its latest SEC filing.
• Other hedge funds also significantly boosted their investments in StoneX Group, with Vanguard Group Inc. growing its stake by 51.3%, totaling nearly $220 million in holdings.
• StoneX Group recently reported quarterly earnings of $1.22 per share, missing expectations of $1.39, while revenue of $1.02 billion exceeded forecasts, resulting in an overall net margin of 0.23%.

Russell Investments Group Ltd. lifted its stake in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 72.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,386 shares of the company's stock after purchasing an additional 11,939 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of StoneX Group worth $2,168,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new position in StoneX Group in the first quarter worth $251,000. Wealth Enhancement Advisory Services LLC raised its position in StoneX Group by 51.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,622 shares of the company's stock worth $582,000 after acquiring an additional 2,598 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of StoneX Group by 49.7% in the first quarter. Crossmark Global Holdings Inc. now owns 3,351 shares of the company's stock valued at $256,000 after buying an additional 1,112 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of StoneX Group by 55.1% in the first quarter. Illinois Municipal Retirement Fund now owns 23,622 shares of the company's stock valued at $1,804,000 after buying an additional 8,390 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of StoneX Group by 47.2% in the first quarter. Bank of New York Mellon Corp now owns 287,633 shares of the company's stock valued at $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.

StoneX Group Trading Up 1.1%

NASDAQ:SNEX traded up $1.09 during mid-day trading on Thursday, reaching $101.05. The company's stock had a trading volume of 320,187 shares, compared to its average volume of 670,213. The company's fifty day simple moving average is $93.51 and its two-hundred day simple moving average is $85.80. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.08 and a quick ratio of 1.48. StoneX Group Inc. has a twelve month low of $50.31 and a twelve month high of $102.11. The stock has a market cap of $5.27 billion, a P/E ratio of 17.21 and a beta of 0.57.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.22 earnings per share (EPS) 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 business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $923.10 million. On average, equities analysts predict that StoneX Group Inc. will post 8.7 EPS for the current year.

Insider Transactions at StoneX Group

In other StoneX Group news, Director John Moore Fowler sold 1,125 shares of StoneX Group stock in a transaction that occurred 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 directly owned 115,749 shares in the company, valued at $11,111,904. The trade was a 0.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Abigail H. Perkins sold 16,098 shares of StoneX Group stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $85.04, for a total value of $1,368,973.92. Following the sale, the insider owned 31,076 shares in the company, valued at $2,642,703.04. This represents a 34.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders 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 Analysts Forecast Growth

Separately, Zacks Research upgraded StoneX Group to a "strong-buy" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, StoneX Group presently has an average rating of "Strong Buy".

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.