StoneX Group (NASDAQ:SNEX) Stock Price Down 16.9% After Earnings Miss

Key Points

• StoneX Group Inc. shares dropped 16.9% to $80.56 after reporting an earnings miss, with earnings per share at $1.22 against the consensus estimate of $1.39.
• Despite the decline in stock price, revenue for the quarter was strong at $1.02 billion, surpassing expectations of $923.10 million.
• Insider trading activity included a purchase of 1,400 shares by Chairman John Radziwill and the sale of 7,500 shares by CEO Philip Andrew Smith, indicating mixed sentiment among executives.

StoneX Group Inc. (NASDAQ:SNEX - Get Free Report)'s stock price dropped 16.9% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $81.67 and last traded at $80.56. Approximately 248,382 shares were traded during trading, a decline of 37% from the average daily volume of 393,173 shares. The stock had previously closed at $96.96.

The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.17). The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $923.10 million. StoneX Group had a return on equity of 16.20% and a net margin of 0.23%.

Insider Buying and Selling

In other StoneX Group news, Chairman John Radziwill purchased 1,400 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were purchased at an average price of $85.00 per share, for a total transaction of $119,000.00. Following the completion of the acquisition, the chairman owned 100,240 shares of the company's stock, valued at approximately $8,520,400. This represents a 1.42% increase in their position. The purchase 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 on Friday, August 1st. The shares were sold at an average price of $96.00, for a total transaction of $108,000.00. Following the completion of the transaction, the director directly owned 115,749 shares in the company, valued at approximately $11,111,904. This represents a 0.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,430 shares of company stock worth $6,582,552. Corporate insiders own 11.70% of the company's stock.

Institutional Trading of StoneX Group

Hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC increased its holdings in StoneX Group by 50.0% during the 1st quarter. Ridgewood Investments LLC now owns 450 shares of the company's stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of StoneX Group by 1,272.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 453 shares of the company's stock worth $41,000 after purchasing an additional 420 shares during the last quarter. Simplex Trading LLC bought a new stake in StoneX Group in the first quarter valued at about $47,000. Public Employees Retirement System of Ohio grew its position in shares of StoneX Group by 37.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 722 shares of the company's stock valued at $66,000 after buying an additional 198 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of StoneX Group by 92.7% during the first quarter. GAMMA Investing LLC now owns 742 shares of the company's stock valued at $57,000 after purchasing an additional 357 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company's stock.

StoneX Group Price Performance

The company has a market capitalization of $4.66 billion, a P/E ratio of 15.18 and a beta of 0.57. The company has a fifty day moving average price of $90.55 and a 200 day moving average price of $83.84. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.08 and a quick ratio of 1.48.

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.