Ashford Capital Management Inc. Has $32.89 Million Position in StoneX Group Inc. $SNEX

Key Points

• Ashford Capital Management increased its stake in StoneX Group Inc. by 46.8%, making it the largest position in their portfolio with approximately $32.89 million invested.
• StoneX Group reported earnings of $1.22 per share, falling short of estimates, while generating a revenue of $1.02 billion, exceeding analyst expectations.
• Analysts have upgraded StoneX Group to a "strong-buy" rating, reflecting positive sentiment towards the stock's performance going forward.

Ashford Capital Management Inc. raised its holdings in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 46.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 430,653 shares of the company's stock after buying an additional 137,303 shares during the period. StoneX Group comprises 4.2% of Ashford Capital Management Inc.'s portfolio, making the stock its largest holding. Ashford Capital Management Inc. owned 0.88% of StoneX Group worth $32,893,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ridgewood Investments LLC increased its stake in shares of StoneX Group by 50.0% in the first quarter. Ridgewood Investments LLC now owns 450 shares of the company's stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Simplex Trading LLC purchased a new stake in shares of StoneX Group in the first quarter worth $47,000. GAMMA Investing LLC increased its stake in shares of StoneX Group by 92.7% in the first quarter. GAMMA Investing LLC now owns 742 shares of the company's stock worth $57,000 after purchasing an additional 357 shares in the last quarter. IFP Advisors Inc increased its stake in shares of StoneX Group by 74,100.0% in the first quarter. IFP Advisors Inc now owns 742 shares of the company's stock worth $57,000 after purchasing an additional 741 shares in the last quarter. Finally, CWM LLC increased its stake in shares of StoneX Group by 78.4% in the first quarter. CWM LLC now owns 808 shares of the company's stock worth $62,000 after purchasing an additional 355 shares in the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at StoneX Group

In other StoneX Group news, CEO Philip Andrew Smith sold 7,500 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $83.68, for a total transaction of $627,600.00. Following the completion of the transaction, the chief executive officer owned 327,754 shares in the company, valued at $27,426,454.72. This trade represents a 2.24% 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, insider Abigail H. Perkins sold 16,098 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $85.04, for a total transaction of $1,368,973.92. Following the transaction, the insider owned 31,076 shares of the company's stock, valued at $2,642,703.04. This trade represents a 34.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,305 shares of company stock worth $3,859,233 over the last three months. 11.70% of the stock is owned by company insiders.

StoneX Group Price Performance

SNEX traded up $1.87 during trading on Wednesday, hitting $104.16. 608,221 shares of the company traded hands, compared to its average volume of 421,751. The company has a market cap of $5.43 billion, a PE ratio of 17.74 and a beta of 0.56. The stock's 50-day simple moving average is $94.45 and its two-hundred day simple moving average is $86.35. StoneX Group Inc. has a 1 year low of $50.31 and a 1 year high of $104.21. The company has a current ratio of 2.08, a quick ratio of 1.48 and a debt-to-equity ratio of 1.30.

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). StoneX Group had a net margin of 0.23% and a return on equity of 16.20%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $923.10 million. As a group, sell-side analysts anticipate that StoneX Group Inc. will post 8.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of StoneX Group to a "strong-buy" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.