StoneX Group Inc. $SNEX Stock Bought by Perpetual Ltd

Key Points

• Perpetual Ltd increased its StoneX Group stake by 47.5% in the third quarter, acquiring 104,054 additional shares and bringing its holdings to 323,178 shares valued at approximately $20.9 million. Institutional investors collectively own 75.93% of SNEX.
• Analysts have a cautious outlook: three analysts rate StoneX Group “Hold” and one rates it “Buy,” resulting in a consensus “Hold” rating and a $112 price target.
• StoneX exceeded quarterly earnings expectations, reporting $1.00 in adjusted EPS versus the $0.86 consensus estimate. However, insiders sold 731,928 shares worth $51.6 million over the past three months, while the stock opened at $60.38, below its 50- and 200-day moving averages.

Perpetual Ltd boosted its holdings in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 47.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,178 shares of the company's stock after acquiring an additional 104,054 shares during the period. Perpetual Ltd owned 0.27% of StoneX Group worth $20,890,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SNEX. ANB Bank lifted its stake in StoneX Group by 50.0% in the 3rd quarter. ANB Bank now owns 5,631 shares of the company's stock worth $364,000 after purchasing an additional 1,877 shares in the last quarter. GK Wealth Management LLC boosted its holdings in shares of StoneX Group by 30.1% during the 3rd quarter. GK Wealth Management LLC now owns 5,302 shares of the company's stock worth $343,000 after purchasing an additional 1,226 shares during the last quarter. Cadent Capital Advisors LLC grew its position in shares of StoneX Group by 50.0% in the third quarter. Cadent Capital Advisors LLC now owns 8,730 shares of the company's stock valued at $564,000 after purchasing an additional 2,910 shares in the last quarter. GAMMA Investing LLC grew its position in shares of StoneX Group by 58.8% in the third quarter. GAMMA Investing LLC now owns 3,587 shares of the company's stock valued at $232,000 after purchasing an additional 1,328 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of StoneX Group by 65.5% in the third quarter. Farther Finance Advisors LLC now owns 5,677 shares of the company's stock valued at $367,000 after purchasing an additional 2,246 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Zacks Research downgraded StoneX Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Jefferies Financial Group cut StoneX Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $123.00 to $112.00 in a report on Monday, July 20th. Wall Street Zen cut StoneX Group from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings downgraded StoneX Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $112.00.

StoneX Group Stock Performance

NASDAQ:SNEX opened at $60.38 on Tuesday. The company's 50-day moving average is $67.36 and its two-hundred day moving average is $71.82. StoneX Group Inc. has a 1-year low of $36.45 and a 1-year high of $94.66. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.82 and a quick ratio of 1.39. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 14.41 and a beta of 0.62.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $39.71 billion during 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%. Analysts forecast that StoneX Group Inc. will post 4.35 EPS for the current year.

Insider Activity

In related news, insider Diego Rotsztain sold 30,327 shares of the business's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $68.83, for a total value of $2,087,407.41. Following the sale, the insider owned 55,168 shares in the company, valued at approximately $3,797,213.44. The trade was a 35.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO William J. Dunaway sold 96,490 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $66.35, for a total value of $6,402,111.50. Following the transaction, the chief financial officer directly owned 502,203 shares in the company, 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 a total of 731,928 shares of company stock worth $51,626,582 in the last three months. 11.79% of the stock is currently owned by corporate insiders.

About StoneX Group

StoneX Group Inc is a global financial services company that provides execution, clearing, custody, payments, market intelligence and risk-management solutions. Through its businesses, the company serves commercial and institutional clients, asset managers, broker-dealers, government and nonprofit organizations, and retail investors.

StoneX offers access to a broad range of markets and products, including equities, fixed income, foreign exchange, commodities, futures and options. Its services include institutional trading and clearing, physical commodities and hedging solutions, global payments, securities financing, wealth-management support and online trading for individual investors.

The company operates through a global network serving clients across North America, Latin America, Europe, Asia and other international markets.

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