StoneX Group (NASDAQ:SNEX) Shares Gap Up on Better-Than-Expected Earnings

Key Points

• Shares of StoneX gapped up after reporting $2.07 EPS vs. $1.60 est., opening at $117.19 (prior close $106.39) and trading around $121.84, though revenue missed at $826.4M vs. $1.37B consensus.
• Multiple analysts upgraded SNEX (Zacks, Weiss, Wall Street Zen) and Jefferies raised its price target to $122, leaving a MarketBeat consensus rating of Buy and a $122 consensus price target.
• Insiders have sold substantial stock recently (151,550 shares sold in the last three months, including 30,000 by the president), while institutional investors own about 75.93% of the company with large position increases from Vanguard, T. Rowe and Goldman Sachs.

StoneX Group Inc. (NASDAQ:SNEX - Get Free Report)'s stock price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $106.39, but opened at $117.19. StoneX Group shares last traded at $121.8380, with a volume of 114,891 shares changing hands.

The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.47. StoneX Group had a net margin of 0.25% and a return on equity of 16.43%. The business had revenue of $826.40 million for the quarter, compared to the consensus estimate of $1.37 billion.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SNEX shares. Zacks Research raised shares of StoneX Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Weiss Ratings raised shares of StoneX Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. Wall Street Zen raised shares of StoneX Group from a "hold" rating to a "buy" rating in a report on Sunday, April 5th. William Blair reaffirmed an "outperform" rating on shares of StoneX Group in a report on Monday, March 9th. Finally, Jefferies Financial Group lifted their price target on shares of StoneX Group from $99.00 to $122.00 and gave the company a "buy" rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $122.00.

Insider Transactions at StoneX Group

In other news, President Charles M. Lyon sold 30,000 shares of the business's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $124.78, for a total value of $3,743,400.00. Following the transaction, the president owned 150,330 shares of the company's stock, valued at approximately $18,758,177.40. The trade was a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Lowry Maurer sold 40,000 shares of the business's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $124.88, for a total transaction of $4,995,200.00. Following the completion of the transaction, the insider directly owned 90,331 shares in the company, valued at $11,280,535.28. This trade represents a 30.69% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 151,550 shares of company stock valued at $17,888,228. 11.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On StoneX Group

Several large investors have recently bought and sold shares of SNEX. Vanguard Group Inc. increased its position in StoneX Group by 34.3% in the third quarter. Vanguard Group Inc. now owns 4,020,305 shares of the company's stock worth $405,729,000 after purchasing an additional 1,027,489 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in StoneX Group by 18.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,851,468 shares of the company's stock worth $271,261,000 after purchasing an additional 439,771 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in StoneX Group by 24.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,499,292 shares of the company's stock worth $142,628,000 after purchasing an additional 294,203 shares during the last quarter. Norges Bank bought a new stake in StoneX Group in the fourth quarter worth $22,167,000. Finally, Goldman Sachs Group Inc. increased its position in StoneX Group by 141.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 387,274 shares of the company's stock worth $36,841,000 after purchasing an additional 226,961 shares during the last quarter. Institutional investors own 75.93% of the company's stock.

StoneX Group Price Performance

The firm's 50-day moving average is $101.76 and its two-hundred day moving average is $101.43. The company has a market cap of $9.59 billion, a P/E ratio of 27.72 and a beta of 0.64. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.80 and a quick ratio of 1.34.

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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