StoneX Group Inc. $SNEX Shares Sold by Tidal Investments LLC

Key Points

• Tidal Investments cut its StoneX stake by 29% in the second quarter, selling 113,472 shares and retaining 277,160 shares valued at about $32.8 million. Institutional investors collectively own 75.93% of the company.
• StoneX reported quarterly EPS of $1.00, beating analyst expectations of $0.86, while revenue reached $39.71 billion. The stock opened at $69.34, compared with a 52-week range of $36.45 to $94.66.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $112, despite several recent downgrades. Insider activity was mixed, including a director purchase and a CFO sale conducted under a Rule 10b5-1 plan.

Tidal Investments LLC lessened its holdings in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 29.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 277,160 shares of the company's stock after selling 113,472 shares during the quarter. Tidal Investments LLC owned about 0.23% of StoneX Group worth $32,843,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Royal Bank of Canada increased its stake in StoneX Group by 129.0% during the 1st quarter. Royal Bank of Canada now owns 77,545 shares of the company's stock worth $5,923,000 after buying an additional 43,678 shares during the period. NewEdge Advisors LLC acquired a new position in shares of StoneX Group in the first quarter worth $449,000. Goldman Sachs Group Inc. increased its position in shares of StoneX Group by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 225,711 shares of the company's stock worth $17,240,000 after acquiring an additional 13,815 shares during the period. United Services Automobile Association purchased a new stake in shares of StoneX Group during the first quarter worth $210,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of StoneX Group by 55.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,125 shares of the company's stock valued at $8,182,000 after acquiring an additional 38,073 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company's stock.

StoneX Group Trading Up 0.4%

NASDAQ:SNEX opened at $69.34 on Thursday. StoneX Group Inc. has a 1 year low of $36.45 and a 1 year high of $94.66. The stock has a market cap of $8.36 billion, a P/E ratio of 16.55 and a beta of 0.63. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.39 and a current ratio of 1.82. The stock has a 50-day simple moving average of $71.99 and a 200-day simple moving average of $73.21.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.14. The business had revenue of $39.71 billion for the quarter, compared to analyst estimates of $1.32 billion. StoneX Group had a return on equity of 20.18% and a net margin of 0.33%. As a group, analysts anticipate that StoneX Group Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity at StoneX Group

In related news, Director Dhamu Thamodaran acquired 2,500 shares of the business's stock in a transaction on Monday, August 10th. The shares were bought at an average price of $64.48 per share, with a total value of $161,200.00. Following the completion of the acquisition, the director owned 75,760 shares in the company, valued at $4,885,004.80. This trade represents a 3.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William Dunaway sold 96,490 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $66.35, for a total transaction of $6,402,111.50. Following the completion of the transaction, the chief financial officer owned 502,203 shares of the company's stock, valued at approximately $33,321,169.05. The trade was a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 995,872 shares of company stock valued at $78,942,625 in the last quarter. Company insiders own 11.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SNEX shares. Jefferies Financial Group cut StoneX Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $123.00 to $112.00 in a research note on Monday, July 20th. Weiss Ratings cut StoneX Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 28th. Wall Street Zen downgraded StoneX Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Zacks Research raised shares of StoneX Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, StoneX Group presently has a consensus rating of "Moderate Buy" and an average target price of $112.00.

StoneX Group Profile

StoneX Group Inc NASDAQ: SNEX is a global financial services firm offering execution, risk management, advisory and post-trade solutions across commodities, currencies, securities and digital assets. The company serves commercial businesses, institutional clients and financial intermediaries, providing market access and tailored services designed to help clients manage price risk, optimize working capital and execute complex transactions.

StoneX operates through several core segments.

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