StoneX Group Inc. (NASDAQ:SNEX) Sees Large Increase in Short Interest

Key Points

• Short interest surged 68.7% to 3,171,077 shares as of March 31, equal to about 4.6% of shares outstanding and a 2.8 days-to-cover ratio.
• Analyst sentiment is a consensus "Moderate Buy" with an average price target of $122.00, after recent upgrades from firms including Jefferies, Wall Street Zen and Weiss.
• Insiders sold 120,125 shares worth roughly $14.98M in the last quarter (insiders still own 11.79% of the company), including notable sales by Abigail Perkins and Director Annabelle Bexiga.

StoneX Group Inc. (NASDAQ:SNEX - Get Free Report) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totaling 3,171,077 shares, an increase of 68.7% from the March 15th total of 1,880,202 shares. Based on an average daily trading volume, of 1,149,138 shares, the days-to-cover ratio is currently 2.8 days. Currently, 4.6% of the shares of the stock are short sold.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Jefferies Financial Group increased their price target on StoneX Group from $99.00 to $122.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Zacks Research cut shares of StoneX Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Wall Street Zen raised shares of StoneX Group from a "hold" rating to a "buy" rating in a research report on Sunday, April 5th. Weiss Ratings raised shares of StoneX Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Finally, William Blair reissued an "outperform" rating on shares of StoneX Group in a research report on Monday, March 9th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $122.00.

StoneX Group Stock Performance

SNEX traded up $6.47 on Monday, hitting $99.37. 1,166,221 shares of the company's stock were exchanged, compared to its average volume of 690,199. The firm has a market cap of $7.82 billion, a PE ratio of 22.25 and a beta of 0.42. StoneX Group has a twelve month low of $50.91 and a twelve month high of $100.05. The stock has a fifty day moving average of $107.66 and a two-hundred day moving average of $100.87. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 1.34.

StoneX Group (NASDAQ:SNEX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.06 by $0.44. StoneX Group had a net margin of 0.25% and a return on equity of 16.43%. The company had revenue of $724.00 million for the quarter, compared to analyst estimates of $1.24 billion. On average, research analysts anticipate that StoneX Group will post 8.7 earnings per share for the current fiscal year.

Insider Transactions at StoneX Group

In other StoneX Group news, insider Abigail H. Perkins sold 8,000 shares of the business's stock in a transaction on Friday, February 13th. The stock was sold at an average price of $126.72, for a total value of $1,013,760.00. Following the completion of the transaction, the insider directly owned 48,259 shares in the company, valued at approximately $6,115,380.48. The trade was a 14.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Annabelle G. Bexiga sold 1,000 shares of the business's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $106.54, for a total value of $106,540.00. Following the completion of the transaction, the director owned 16,459 shares of the company's stock, valued at $1,753,541.86. This trade represents a 5.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 120,125 shares of company stock worth $14,983,688 in the last quarter. Insiders own 11.79% of the company's stock.

Institutional Investors Weigh In On StoneX Group

Several large investors have recently made changes to their positions in SNEX. Commonwealth Equity Services LLC increased its stake in shares of StoneX Group by 1,708.4% during the third quarter. Commonwealth Equity Services LLC now owns 72,823 shares of the company's stock valued at $7,349,000 after acquiring an additional 68,796 shares during the period. Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of StoneX Group during the third quarter valued at approximately $5,944,000. Milestone Asset Management LLC acquired a new position in shares of StoneX Group during the third quarter valued at approximately $1,885,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of StoneX Group by 551.6% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,724 shares of the company's stock valued at $3,202,000 after acquiring an additional 26,855 shares during the period. Finally, Orion Porfolio Solutions LLC acquired a new position in shares of StoneX Group during the second quarter valued at approximately $1,972,000. Institutional investors and hedge funds own 75.93% of the company's stock.

StoneX Group Company 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.

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.