Punch & Associates Investment Management Inc. Has $64.43 Million Position in StoneX Group Inc. $SNEX

Key Points

• Punch & Associates Investment Management Inc. has increased its stake in StoneX Group Inc. by 8.7%, making it the largest holding in their portfolio with 843,524 shares valued at approximately $64.4 million.
• Wall Street analysts have upgraded StoneX Group to a "strong-buy" rating, indicating positive expectations for the company's stock performance.
• Insider transactions included a sale of 1,125 shares by Director John Moore Fowler for $108,000, reflecting a slight decrease in his ownership position.

Punch & Associates Investment Management Inc. lifted its position in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 8.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 843,524 shares of the company's stock after purchasing an additional 67,747 shares during the quarter. StoneX Group accounts for about 4.2% of Punch & Associates Investment Management Inc.'s holdings, making the stock its largest holding. Punch & Associates Investment Management Inc. owned approximately 1.72% of StoneX Group worth $64,428,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SNEX. Sequoia Financial Advisors LLC bought a new stake in StoneX Group in the 1st quarter worth approximately $251,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of StoneX Group by 51.7% in the 1st 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 during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of StoneX Group by 49.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 3,351 shares of the company's stock worth $256,000 after acquiring an additional 1,112 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of StoneX Group by 55.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 23,622 shares of the company's stock valued at $1,804,000 after purchasing an additional 8,390 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in StoneX Group by 47.2% in the 1st quarter. Bank of New York Mellon Corp now owns 287,633 shares of the company's stock worth $21,969,000 after purchasing an additional 92,293 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman John Radziwill acquired 1,400 shares of the firm'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 acquisition, the chairman owned 100,240 shares of the company's stock, valued at $8,520,400. This trade represents a 1.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Moore Fowler sold 1,125 shares of StoneX Group stock in a transaction dated Friday, August 1st. The shares were 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 disclosure for this sale can be found here. Insiders sold 37,805 shares of company stock valued at $3,231,633 over the last quarter. 11.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of 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. Based on data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

StoneX Group Trading Down 0.6%

Shares of NASDAQ:SNEX traded down $0.60 during midday trading on Tuesday, hitting $95.74. 487,017 shares of the stock traded hands, compared to its average volume of 470,460. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 1.30. The business's 50 day moving average is $95.48 and its two-hundred day moving average is $87.00. The stock has a market capitalization of $4.99 billion, a PE ratio of 16.31 and a beta of 0.56. StoneX Group Inc. has a one year low of $50.31 and a one year high of $106.98.

StoneX Group (NASDAQ:SNEX - Get Free Report) last announced 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 net margin of 0.23% and a return on equity of 16.20%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $923.10 million. As a group, research analysts forecast that StoneX Group Inc. will post 8.7 earnings per share 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.