Sheets Smith Wealth Management Boosts Stake in StoneX Group Inc. (NASDAQ:SNEX)

Sheets Smith Wealth Management increased its holdings in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 56.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,622 shares of the company's stock after purchasing an additional 3,127 shares during the period. Sheets Smith Wealth Management's holdings in StoneX Group were worth $659,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SNEX. Tidal Investments LLC purchased a new stake in shares of StoneX Group during the 4th quarter worth approximately $16,557,000. JPMorgan Chase & Co. raised its holdings in shares of StoneX Group by 104.3% during the 4th quarter. JPMorgan Chase & Co. now owns 329,287 shares of the company's stock worth $32,260,000 after acquiring an additional 168,098 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of StoneX Group by 17.7% during the 4th quarter. American Century Companies Inc. now owns 1,014,231 shares of the company's stock worth $99,364,000 after acquiring an additional 152,847 shares in the last quarter. Woodmont Investment Counsel LLC raised its holdings in shares of StoneX Group by 108.2% during the 1st quarter. Woodmont Investment Counsel LLC now owns 266,768 shares of the company's stock worth $20,376,000 after acquiring an additional 138,627 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of StoneX Group during the 4th quarter worth approximately $10,551,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at StoneX Group

In related news, insider Abigail H. Perkins sold 10,470 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $86.22, for a total transaction of $902,723.40. Following the sale, the insider now owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Sean Michael Oconnor sold 34,083 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $89.63, for a total value of $3,054,859.29. Following the sale, the chairman now directly owns 1,023,084 shares in the company, valued at approximately $91,699,018.92. The trade was a 3.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,262 shares of company stock valued at $14,772,846. 11.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, William Blair initiated coverage on StoneX Group in a report on Wednesday, March 26th. They set an "outperform" rating on the stock.

StoneX Group Trading Up 0.6%

StoneX Group stock traded up $0.50 during mid-day trading on Friday, hitting $91.38. The company's stock had a trading volume of 1,728,989 shares, compared to its average volume of 301,180. The company has a 50 day moving average of $86.84 and a 200-day moving average of $78.26. The stock has a market cap of $4.47 billion, a PE ratio of 15.48 and a beta of 0.53. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.35 and a current ratio of 1.91. StoneX Group Inc. has a one year low of $47.69 and a one year high of $97.17.

StoneX Group (NASDAQ:SNEX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.32 by $0.09. StoneX Group had a return on equity of 17.03% and a net margin of 0.24%. The company had revenue of $956.00 million for the quarter, compared to the consensus estimate of $907.30 million. On average, research analysts anticipate that StoneX Group Inc. will post 8.7 EPS for the current 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.