StoneX Group (NASDAQ:SNEX) Reaches New 12-Month High - Here's Why

Key Points

• StoneX Group's stock reached a new 12-month high of $102.63, closing at $100.20, with about 661,862 shares traded on the day.
• Wall Street analysts have given StoneX Group a consensus rating of "Strong Buy", with one analyst recently raising the rating to this level.
• In the last 90 days, insiders sold 45,305 shares of StoneX Group stock, leading to a 19.25% reduction in one insider's holdings.

Shares of StoneX Group Inc. (NASDAQ:SNEX - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $102.63 and last traded at $100.20, with a volume of 661862 shares trading hands. The stock had previously closed at $101.05.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised StoneX Group to a "strong-buy" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat.com, StoneX Group presently has a consensus rating of "Strong Buy".

StoneX Group Stock Performance

The firm has a market capitalization of $5.37 billion, a P/E ratio of 17.53 and a beta of 0.56. The stock has a fifty day simple moving average of $95.28 and a two-hundred day simple moving average of $86.80. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.08 and a quick ratio of 1.48.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.22 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.17). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $923.10 million. StoneX Group had a return on equity of 16.20% and a net margin of 0.23%. On average, research analysts predict that StoneX Group Inc. will post 8.7 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman John Radziwill acquired 1,400 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was purchased at an average price of $85.00 per share, for a total transaction of $119,000.00. Following the completion of the acquisition, the chairman directly owned 100,240 shares in the company, valued at $8,520,400. The trade was a 1.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Philip Andrew Smith sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $83.68, for a total value of $627,600.00. Following the sale, the chief executive officer owned 327,754 shares of the company's stock, valued at approximately $27,426,454.72. This represents a 2.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,305 shares of company stock valued at $3,859,233. Company insiders own 11.70% of the company's stock.

Institutional Investors Weigh In On StoneX Group

Several hedge funds and other institutional investors have recently modified their holdings of SNEX. Tudor Investment Corp ET AL bought a new stake in shares of StoneX Group during the fourth quarter valued at approximately $273,000. Northern Trust Corp boosted its position in shares of StoneX Group by 9.9% during the fourth quarter. Northern Trust Corp now owns 335,456 shares of the company's stock valued at $32,865,000 after buying an additional 30,248 shares during the last quarter. Algert Global LLC boosted its position in shares of StoneX Group by 27.6% during the fourth quarter. Algert Global LLC now owns 11,978 shares of the company's stock valued at $1,173,000 after buying an additional 2,589 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in StoneX Group in the fourth quarter worth $9,520,000. Finally, BOKF NA purchased a new position in StoneX Group in the fourth quarter worth $595,000. Institutional investors own 75.93% of the company's stock.

About StoneX Group

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.