StoneX Group (NASDAQ:SNEX) Stock Price Down 6.1% - Here's What Happened

Key Points

• StoneX Group shares fell 6.1% on Friday, closing at $104.16 after trading as low as $103.65, with volume running below average.
• Recent analyst sentiment was mixed, with Zacks cutting the stock to hold while other firms upgraded it; overall, Street consensus remains Moderate Buy with a $122 price target.
• The company is set for a 3-for-2 stock split on Monday, July 20, and it recently reported earnings of $2.07 per share, beating estimates even though revenue came in below expectations.

StoneX Group Inc. (NASDAQ:SNEX - Get Free Report)'s share price fell 6.1% during trading on Friday . The stock traded as low as $103.65 and last traded at $104.16. Approximately 591,938 shares traded hands during trading, a decline of 21% from the average session volume of 750,250 shares. The stock had previously closed at $110.88.

Wall Street Analysts Forecast Growth

SNEX has been the topic of several recent analyst reports. Zacks Research cut StoneX Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings raised StoneX Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 29th. Finally, Wall Street Zen raised shares of StoneX Group from a "hold" rating to a "buy" rating in a research note on Sunday, April 5th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, StoneX Group has a consensus rating of "Moderate Buy" and a consensus price target of $122.00.

StoneX Group Stock Down 6.1%

The stock has a 50-day simple moving average of $120.57 and a two-hundred day simple moving average of $111.39. The company has a quick ratio of 1.33, a current ratio of 1.74 and a debt-to-equity ratio of 1.27. The firm has a market cap of $8.25 billion, a PE ratio of 18.62 and a beta of 0.65.

StoneX Group's stock is going to split on the morning of Monday, July 20th. The 3-2 split was announced on Tuesday, May 26th. The newly minted shares will be issued to shareholders after the closing bell on Friday, July 17th.

StoneX Group (NASDAQ:SNEX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.47. The firm had revenue of $826.40 million during the quarter, compared to analysts' expectations of $1.37 billion. StoneX Group had a return on equity of 19.31% and a net margin of 0.30%. Analysts expect that StoneX Group Inc. will post 6 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO William J. Dunaway sold 63,602 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $131.16, for a total value of $8,342,038.32. Following the completion of the sale, the chief financial officer directly owned 294,359 shares in the company, valued at approximately $38,608,126.44. The trade was a 17.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Annabelle G. Bexiga sold 1,500 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $133.36, for a total transaction of $200,040.00. Following the completion of the sale, the director owned 20,188 shares of the company's stock, valued at approximately $2,692,271.68. The trade was a 6.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 732,519 shares of company stock valued at $87,628,032 over the last 90 days. Company insiders own 11.79% of the company's stock.

Hedge Funds Weigh In On StoneX Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in StoneX Group by 129.0% in the first quarter. Royal Bank of Canada now owns 77,545 shares of the company's stock worth $5,923,000 after purchasing an additional 43,678 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of StoneX Group during the first quarter valued at about $449,000. Goldman Sachs Group Inc. increased its holdings in shares of StoneX Group by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 225,711 shares of the company's stock worth $17,240,000 after buying an additional 13,815 shares during the period. United Services Automobile Association purchased a new position in shares of StoneX Group in the first quarter worth about $210,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of StoneX Group by 55.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,125 shares of the company's stock worth $8,182,000 after buying an additional 38,073 shares during the period. 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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