StoneX Group (NASDAQ:SNEX) Reaches New 12-Month High - Time to Buy?

Key Points

• Reached new 52-week high — SNEX traded as high as $107.92 and last at $105.90 on Monday with 281,438 shares changing hands; the stock has a market cap of $8.35 billion and a P/E of 23.76.
• Analyst sentiment is mildly positive — three Buy ratings and one Hold produce an average "Moderate Buy" with an average target price of $122, and Jefferies recently raised its target to $122.
• Mixed fundamentals and notable insider sales — the company beat EPS estimates ($2.50 vs. $2.06) but missed revenue expectations ($724M vs. $1.24B), and insiders sold 151,625 shares (~$17.9M) over the last 90 days (insiders own 11.79%).

StoneX Group Inc. (NASDAQ:SNEX - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $107.92 and last traded at $105.8950, with a volume of 281438 shares trading hands. The stock had previously closed at $106.14.

Wall Street Analyst Weigh In

SNEX has been the topic of a number of analyst reports. Zacks Research lowered 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 note on Sunday, April 5th. Jefferies Financial Group upped their price objective on shares of StoneX Group from $99.00 to $122.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. William Blair reaffirmed an "outperform" rating on shares of StoneX Group in a research note on Monday, March 9th. Finally, Weiss Ratings raised shares of StoneX Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, StoneX Group has an average rating of "Moderate Buy" and an average target price of $122.00.

StoneX Group Price Performance

The stock has a market capitalization of $8.35 billion, a P/E ratio of 23.76 and a beta of 0.42. The business's 50 day simple moving average is $104.26 and its two-hundred day simple moving average is $101.15. The company has a quick ratio of 1.34, a current ratio of 1.80 and a debt-to-equity ratio of 1.34.

StoneX Group (NASDAQ:SNEX - Get Free Report) last posted its earnings results on Wednesday, February 4th. The company reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.06 by $0.44. The company had revenue of $724.00 million for the quarter, compared to analyst estimates of $1.24 billion. StoneX Group had a return on equity of 16.43% and a net margin of 0.25%. As a group, sell-side analysts forecast that StoneX Group Inc. will post 5.8 earnings per share for the current fiscal year.

Insider Transactions at StoneX Group

In other news, Chairman Sean Michael Oconnor sold 40,000 shares of the business's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $124.95, for a total value of $4,998,000.00. Following the sale, the chairman owned 854,127 shares of the company's stock, valued at $106,723,168.65. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Abigail H. Perkins sold 8,000 shares of the business's stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $126.72, for a total transaction of $1,013,760.00. Following the completion of the sale, the insider directly owned 48,259 shares in the company, valued at approximately $6,115,380.48. This trade represents a 14.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 151,625 shares of company stock valued at $17,903,453. 11.79% of the stock is currently owned by insiders.

Institutional Trading of StoneX Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Private Trust Co. NA raised its position in shares of StoneX Group by 2,109.1% in the third quarter. Private Trust Co. NA now owns 243 shares of the company's stock valued at $25,000 after purchasing an additional 232 shares during the period. Cornerstone Planning Group LLC raised its stake in shares of StoneX Group by 4,133.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 254 shares of the company's stock valued at $26,000 after purchasing an additional 248 shares during the period. Cullen Frost Bankers Inc. raised its stake in shares of StoneX Group by 1,100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 264 shares of the company's stock valued at $27,000 after purchasing an additional 242 shares during the period. AlphaQuest LLC raised its stake in shares of StoneX Group by 28,000.0% during the 3rd quarter. AlphaQuest LLC now owns 281 shares of the company's stock valued at $28,000 after purchasing an additional 280 shares during the period. Finally, Salomon & Ludwin LLC bought a new stake in shares of StoneX Group during the 3rd quarter valued at $37,000. Institutional investors own 75.93% of the company's stock.

About StoneX Group

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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