Van Berkom & Associates Inc. Purchases 366,149 Shares of StoneX Group Inc. $SNEX

Key Points

• Van Berkom & Associates increased its StoneX stake by 49.1% in the third quarter, buying 366,149 shares to reach 1,111,835 shares, worth about $71.9 million at quarter-end.
• Other institutional investors also added or initiated positions; institutions collectively owned 75.93% of StoneX shares. Analysts’ consensus rating was Hold, with an average price target of $112.
• StoneX insiders sold 491,057 shares worth about $31.7 million during the quarter. Chairman Sean O’Connor and insider Mark Maurer made sales under pre-arranged trading plans.

Van Berkom & Associates Inc. lifted its position in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 49.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,111,835 shares of the company's stock after purchasing an additional 366,149 shares during the quarter. StoneX Group comprises approximately 2.6% of Van Berkom & Associates Inc.'s portfolio, making the stock its 11th largest holding. Van Berkom & Associates Inc. owned approximately 0.92% of StoneX Group worth $71,869,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNEX. BlackRock Inc. purchased a new position in StoneX Group during the second quarter worth about $1,343,877,000. Dimensional Fund Advisors LP grew its holdings in shares of StoneX Group by 50.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,107,795 shares of the company's stock worth $169,976,000 after purchasing an additional 704,493 shares in the last quarter. Wasatch Advisors LP bought a new position in shares of StoneX Group in the second quarter worth approximately $139,730,000. Punch & Associates Investment Management Inc. bought a new position in shares of StoneX Group in the second quarter worth approximately $82,250,000. Finally, Hennessy Advisors Inc. increased its position in shares of StoneX Group by 45.4% in the third quarter. Hennessy Advisors Inc. now owns 820,700 shares of the company's stock worth $53,050,000 after purchasing an additional 256,100 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SNEX shares. Weiss Ratings lowered shares of StoneX Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, October 14th. Zacks Research cut shares of StoneX Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Wall Street Zen downgraded shares of StoneX Group from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group lowered StoneX Group from a "buy" rating to a "hold" rating and dropped their price target for the stock from $123.00 to $112.00 in a research note on Monday, July 20th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $112.00.

Insider Buying and Selling at StoneX Group

In other StoneX Group news, Chairman Sean O'Connor sold 76,148 shares of the company's stock in a transaction on Monday, October 12th. The shares were sold at an average price of $60.35, for a total value of $4,595,531.80. Following the completion of the transaction, the chairman directly owned 1,831,799 shares in the company, valued at approximately $110,549,069.65. This represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Maurer sold 52,953 shares of the business's stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $60.35, for a total transaction of $3,195,713.55. Following the transaction, the insider owned 219,663 shares in the company, valued at $13,256,662.05. This represents a 19.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 491,057 shares of company stock worth $31,724,107. 11.79% of the stock is owned by corporate insiders.

StoneX Group Trading Up 4.5%

Shares of SNEX opened at $56.77 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.82 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $6.85 billion, a P/E ratio of 13.55 and a beta of 0.66. StoneX Group Inc. has a twelve month low of $36.45 and a twelve month high of $94.66. The firm has a fifty day simple moving average of $62.61 and a two-hundred day simple moving average of $71.21.

StoneX Group Company Profile

StoneX Group Inc is a global financial services company that connects businesses, institutions and individual investors with markets. Its services include trade execution and clearing, risk management, market intelligence, and financing for participants in commodity and financial markets.

The company serves commercial and institutional clients across sectors such as agriculture, energy and metals, and offers foreign exchange, securities and other trading services. Its retail business provides online trading platforms, while its payments operations support domestic and cross-border transactions.

Previously known as INTL FCStone, the company adopted the StoneX Group name in 2020.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.