StoneX Group (NASDAQ:SNEX) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded StoneX Group from “Buy” to “Hold,” joining Zacks Research and Jefferies in recently lowering their ratings. Despite this, analysts maintain a “Moderate Buy” consensus with an average price target of $112.
• StoneX reported quarterly EPS of $1.00, beating estimates of $0.86, while revenue came in at $718 million versus the $1.32 billion analyst expectation.
• Insiders sold 1.46 million shares worth approximately $114.2 million over the past three months, while institutional investors own 75.93% of the company.

StoneX Group (NASDAQ:SNEX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of StoneX Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Zacks Research lowered StoneX Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Finally, Jefferies Financial Group cut StoneX Group from a "buy" rating to a "hold" rating and cut their price objective for the company from $123.00 to $112.00 in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $112.00.

StoneX Group Stock Performance

StoneX Group stock opened at $65.84 on Friday. The stock has a market cap of $7.94 billion, a P/E ratio of 15.72 and a beta of 0.66. The company has a current ratio of 1.82, a quick ratio of 1.33 and a debt-to-equity ratio of 1.45. The stock has a 50 day moving average of $79.50 and a 200-day moving average of $74.85. StoneX Group has a 52 week low of $36.45 and a 52 week high of $94.66.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.14. The business had revenue of $718.00 million during the quarter, compared to analyst estimates of $1.32 billion. StoneX Group had a net margin of 0.33% and a return on equity of 20.18%. On average, analysts expect that StoneX Group will post 4 EPS for the current fiscal year.

Insider Transactions at StoneX Group

In other news, CEO Philip Andrew Smith sold 77,310 shares of StoneX Group stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $79.15, for a total value of $6,118,828.80. Following the completion of the transaction, the chief executive officer directly owned 738,216 shares of the company's stock, valued at approximately $58,427,335.68. The trade was a 9.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO William J. Dunaway sold 96,025 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $73.64, for a total transaction of $7,071,281.00. Following the sale, the chief financial officer directly owned 410,379 shares of the company's stock, valued at approximately $30,220,309.56. This represents a 18.96% 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 three months, insiders have sold 1,456,602 shares of company stock worth $114,197,648. 11.79% of the stock is currently owned by insiders.

Institutional Trading of StoneX Group

A number of institutional investors and hedge funds have recently made changes to their positions in SNEX. BlackRock Inc. bought a new position in StoneX Group during the 2nd quarter worth $1,343,877,000. Vanguard Group Inc. lifted its stake in StoneX Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,031,545 shares of the company's stock valued at $383,521,000 after buying an additional 11,240 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of StoneX Group by 18.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,851,468 shares of the company's stock valued at $271,261,000 after acquiring an additional 439,771 shares during the period. Dimensional Fund Advisors LP boosted 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 valued at $169,976,000 after acquiring an additional 704,493 shares during the period. Finally, State Street Corp grew its position in shares of StoneX Group by 0.3% during the fourth quarter. State Street Corp now owns 1,829,897 shares of the company's stock worth $174,078,000 after acquiring an additional 6,220 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

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.

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