StoneX Group (NASDAQ:SNEX) Stock Price Down 5.7% - Time to Sell?

Key Points

• StoneX Group Inc. experienced a 5.7% drop in share price during mid-day trading, with the stock last trading at $97.03, significantly below its previous closing price of $102.92.
• Despite the stock's downturn, Zacks Research upgraded it to a "strong-buy" rating, with a consensus rating of "Strong Buy" from analysts.
• The company reported earnings of $1.22 per share for the last quarter, which fell short of analysts' expectations of $1.39, although revenue surpassed estimates at $1.02 billion.

StoneX Group Inc. (NASDAQ:SNEX - Get Free Report)'s share price was down 5.7% during mid-day trading on Monday . The stock traded as low as $97.10 and last traded at $97.03. Approximately 187,938 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 421,570 shares. The stock had previously closed at $102.92.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of StoneX Group to a "strong-buy" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat.com, StoneX Group presently has a consensus rating of "Strong Buy".

StoneX Group Price Performance

The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.48 and a current ratio of 2.08. The stock has a market capitalization of $5.03 billion, a PE ratio of 16.41 and a beta of 0.56. The company's fifty day simple moving average is $95.28 and its two-hundred day simple moving average is $86.84.

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

Insider Activity

In other news, Chairman John Radziwill purchased 1,400 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were bought at an average cost of $85.00 per share, with a total value of $119,000.00. Following the purchase, the chairman directly owned 100,240 shares of the company's stock, valued at approximately $8,520,400. This trade represents a 1.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Moore Fowler sold 1,125 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.00, for a total transaction of $108,000.00. Following the completion of the sale, the director directly owned 115,749 shares in the company, valued at $11,111,904. This represents a 0.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,305 shares of company stock valued at $3,859,233 over the last quarter. 11.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SNEX. Northern Trust Corp raised its holdings in StoneX Group by 9.9% in 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 period. Algert Global LLC raised its holdings in StoneX Group by 27.6% in 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 period. BNP Paribas Financial Markets purchased a new position in StoneX Group in the fourth quarter valued at approximately $9,520,000. Cetera Investment Advisers raised its stake in shares of StoneX Group by 23.6% during the fourth quarter. Cetera Investment Advisers now owns 5,696 shares of the company's stock valued at $558,000 after purchasing an additional 1,089 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of StoneX Group during the fourth quarter valued at approximately $2,125,000. Hedge funds and other 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.

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