StoneX Group Inc. (NASDAQ:SNEX) Sees Significant Drop in Short Interest

StoneX Group Inc. (NASDAQ:SNEX - Get Free Report) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 1,100,000 shares, a decline of 16.0% from the April 30th total of 1,310,000 shares. Based on an average daily trading volume, of 432,200 shares, the days-to-cover ratio is currently 2.5 days. Currently, 3.9% of the shares of the stock are sold short.

StoneX Group Price Performance

Shares of NASDAQ:SNEX traded down $1.16 during midday trading on Wednesday, reaching $83.80. The company's stock had a trading volume of 240,255 shares, compared to its average volume of 291,583. StoneX Group has a fifty-two week low of $46.43 and a fifty-two week high of $97.17. The company has a market capitalization of $4.10 billion, a P/E ratio of 10.01 and a beta of 0.53. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.77 and a quick ratio of 1.29. The business's fifty day simple moving average is $83.11 and its 200-day simple moving average is $76.08.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.09. StoneX Group had a net margin of 0.26% and a return on equity of 16.83%. The business had revenue of $956.00 million for the quarter, compared to the consensus estimate of $907.30 million. As a group, equities research analysts expect that StoneX Group will post 8.7 EPS for the current fiscal year.

Insider Activity at StoneX Group

In other StoneX Group news, CEO Philip Andrew Smith sold 9,000 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $69.56, for a total transaction of $626,040.00. Following the sale, the chief executive officer now directly owns 342,711 shares of the company's stock, valued at approximately $23,838,977.16. This represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Charles M. Lyon sold 17,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $87.92, for a total transaction of $1,494,640.00. Following the sale, the president now directly owns 122,080 shares of the company's stock, valued at approximately $10,733,273.60. The trade was a 12.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,082 shares of company stock valued at $11,021,613 in the last 90 days. 11.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On StoneX Group

Large investors have recently modified their holdings of the stock. Kestra Investment Management LLC bought a new position in StoneX Group in the 4th quarter worth approximately $31,000. Ridgewood Investments LLC raised its position in shares of StoneX Group by 50.0% during the first quarter. Ridgewood Investments LLC now owns 450 shares of the company's stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Simplex Trading LLC acquired a new position in shares of StoneX Group during the first quarter valued at $47,000. GAMMA Investing LLC boosted its holdings in StoneX Group by 92.7% in the first quarter. GAMMA Investing LLC now owns 742 shares of the company's stock valued at $57,000 after acquiring an additional 357 shares during the last quarter. Finally, IFP Advisors Inc increased its position in 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 during the period. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, William Blair started coverage on StoneX Group in a report on Wednesday, March 26th. They set an "outperform" rating for the company.

StoneX Group Company Profile

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.