StoneX Group (NASDAQ:SNEX) Stock Falls 7.6% - What's Next?

Key Points

• StoneX shares fell 7.6% to approximately $60.96, with trading volume about half the average session volume.
• Analyst sentiment weakened, with Jefferies, Wall Street Zen, Zacks Research and Weiss Ratings moving the stock toward a Hold view. The consensus rating is now Hold, with an average price target of $112.
• StoneX exceeded quarterly earnings expectations, reporting $1.00 per share versus the $0.86 consensus estimate, but insiders sold 731,928 shares worth about $51.6 million over the past 90 days.

StoneX Group Inc. (NASDAQ:SNEX - Get Free Report) was down 7.6% during trading on Wednesday. The stock traded as low as $61.22 and last traded at $60.9580. 541,399 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 1,072,947 shares. The stock had previously closed at $66.00.

Analysts Set New Price Targets

SNEX has been the topic of a number of recent analyst reports. Jefferies Financial Group cut shares of StoneX Group from a "buy" rating to a "hold" rating and decreased their price objective for the company from $123.00 to $112.00 in a research note on Monday, July 20th. Wall Street Zen downgraded shares of StoneX Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Zacks Research lowered StoneX Group from a "strong-buy" rating to a "hold" rating in a research report on Monday. Finally, Weiss Ratings downgraded StoneX Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, September 29th. 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.com, the company currently has an average rating of "Hold" and an average target price of $112.00.

StoneX Group Stock Down 7.6%

The company has a market cap of $7.35 billion, a PE ratio of 14.60 and a beta of 0.62. The business has a fifty day simple moving average of $68.54 and a two-hundred day simple moving average of $71.77. The company has a current ratio of 1.82, a quick ratio of 1.39 and a debt-to-equity ratio of 1.45.

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

Insider Activity

In related news, CFO William J. Dunaway sold 96,490 shares of StoneX Group 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 completion of the transaction, the chief financial officer owned 502,203 shares in the company, valued at $33,321,169.05. The trade was a 16.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Diego Rotsztain sold 30,327 shares of the company's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $68.83, for a total transaction of $2,087,407.41. Following the completion of the transaction, the insider owned 55,168 shares of the company's stock, valued at $3,797,213.44. This represents a 35.47% 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. In the last ninety days, insiders sold 731,928 shares of company stock valued at $51,626,582. 11.79% of the stock is owned by insiders.

Institutional Trading of StoneX Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. AG acquired a new stake in StoneX Group in the second quarter valued at approximately $3,079,000. Bank of America Corp DE bought a new position in shares of StoneX Group in the second quarter valued at approximately $51,370,000. Coppell Advisory Solutions LLC bought a new position in StoneX Group in the 2nd quarter valued at $3,738,000. Deutsche Bank AG purchased a new stake in shares of StoneX Group during the 2nd quarter valued at $13,328,000. Finally, Man Group plc bought a new stake in StoneX Group in the second quarter worth about $3,495,000. 75.93% of the stock is currently owned by institutional investors.

StoneX Group Company Profile

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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