StoneX Group (NASDAQ:SNEX) Stock Price Down 5.7% - What's Next?

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 stock price was down 5.7% during trading on Monday . The stock traded as low as $97.10 and last traded at $97.03. Approximately 187,938 shares were traded during trading, a decline of 55% from the average daily volume of 421,570 shares. The stock had previously closed at $102.92.

Wall Street Analyst Weigh In

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

StoneX Group Stock Performance

The firm has a market cap of $5.04 billion, a P/E ratio of 16.46 and a beta of 0.56. The stock's 50 day moving average is $95.70 and its two-hundred day moving average is $87.30. 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 released its quarterly earnings data 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). StoneX Group had a net margin of 0.23% and a return on equity of 16.20%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $923.10 million. As a group, equities analysts predict that StoneX Group Inc. will post 8.7 EPS for the current year.

Insiders Place Their Bets

In other news, insider Abigail H. Perkins sold 10,470 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $86.22, for a total value of $902,723.40. Following the sale, the insider owned 43,913 shares in the company, valued at approximately $3,786,178.86. The trade was a 19.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Moore Fowler sold 1,125 shares of the company's stock in a transaction dated 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 approximately $11,111,904. The trade was a 0.96% decrease in their position. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On StoneX Group

A number of large investors have recently bought and sold shares of SNEX. Cetera Investment Advisers raised its position in StoneX Group by 23.6% in the 4th 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 last quarter. Deutsche Bank AG lifted its position in StoneX Group by 20.2% during the 4th quarter. Deutsche Bank AG now owns 48,101 shares of the company's stock worth $4,712,000 after buying an additional 8,084 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in StoneX Group by 283.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 36,433 shares of the company's stock worth $3,569,000 after acquiring an additional 26,925 shares during the last quarter. Focus Partners Wealth increased its position in StoneX Group by 2.1% in the 4th quarter. Focus Partners Wealth now owns 8,109 shares of the company's stock valued at $794,000 after acquiring an additional 164 shares in the last quarter. Finally, Graham Capital Management L.P. increased its position in StoneX Group by 95.3% in the 4th quarter. Graham Capital Management L.P. now owns 6,045 shares of the company's stock valued at $592,000 after acquiring an additional 2,950 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors.

StoneX Group Company Profile

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.