Sheets Smith Wealth Management Has $659,000 Stock Position in StoneX Group Inc. (NASDAQ:SNEX)

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

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in StoneX Group by 92.7% during the first quarter. GAMMA Investing LLC now owns 742 shares of the company's stock worth $57,000 after purchasing an additional 357 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of StoneX Group by 250.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 656 shares of the company's stock worth $64,000 after buying an additional 469 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of StoneX Group during the 4th quarter worth about $75,000. Bessemer Group Inc. grew its stake in StoneX Group by 145.2% in the 4th quarter. Bessemer Group Inc. now owns 1,714 shares of the company's stock valued at $168,000 after buying an additional 1,015 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in StoneX Group in the 4th quarter valued at about $202,000. 75.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

StoneX Group Stock Performance

SNEX traded down $0.27 during trading on Wednesday, hitting $87.90. The stock had a trading volume of 213,201 shares, compared to its average volume of 295,382. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.91 and a quick ratio of 1.35. The company has a 50 day moving average price of $86.23 and a 200-day moving average price of $77.82. StoneX Group Inc. has a one year low of $47.69 and a one year high of $97.17. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 14.89 and a beta of 0.53.

StoneX Group (NASDAQ:SNEX - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $907.30 million. As a group, research analysts predict that StoneX Group Inc. will post 8.7 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Philip Andrew Smith sold 4,447 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $80.07, for a total value of $356,071.29. Following the completion of the transaction, the chief executive officer now owns 342,711 shares of the company's stock, valued at $27,440,869.77. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Moore Fowler sold 1,125 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $87.75, for a total transaction of $98,718.75. Following the sale, the director now directly owns 116,735 shares of the company's stock, valued at $10,243,496.25. This represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,262 shares of company stock worth $14,772,846 in the last quarter. 11.70% of the stock is currently owned by corporate 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.