Zacks Research Downgrades StoneX Group (NASDAQ:SNEX) to Hold

Key Points

• Zacks Research downgraded StoneX Group's rating from "strong-buy" to "hold," reflecting a shift in analyst sentiment regarding the company's stock.
• StoneX Group's recent quarterly earnings showed a miss in EPS estimates at $1.22, compared to the consensus of $1.39, despite revenue exceeding expectations at $1.02 billion.
• Institutional investors hold a substantial 75.93% stake in StoneX Group, indicating significant interest from large financial entities.

StoneX Group (NASDAQ:SNEX - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of StoneX Group in a report on Saturday, September 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, StoneX Group currently has an average rating of "Hold".

StoneX Group Stock Performance

Shares of SNEX stock opened at $97.97 on Monday. The stock has a market cap of $5.11 billion, a PE ratio of 16.69 and a beta of 0.51. StoneX Group has a 52-week low of $55.68 and a 52-week high of $106.98. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 1.30. The business has a 50-day simple moving average of $96.73 and a 200-day simple moving average of $89.75.

StoneX Group (NASDAQ:SNEX - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $1.02 billion during 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%. On average, equities analysts expect that StoneX Group will post 8.7 EPS for the current year.

Insider Activity at StoneX Group

In related news, Director John Moore Fowler sold 1,125 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.00, for a total value of $108,000.00. Following the completion of the sale, the director owned 115,749 shares of the company's stock, valued at approximately $11,111,904. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.70% of the company's stock.

Institutional Investors Weigh In On StoneX Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC acquired a new stake in shares of StoneX Group in the second quarter valued at approximately $286,000. Texas Permanent School Fund Corp grew its position in StoneX Group by 25.9% in the second quarter. Texas Permanent School Fund Corp now owns 65,397 shares of the company's stock worth $5,960,000 after acquiring an additional 13,441 shares during the period. Orion Porfolio Solutions LLC purchased a new position in StoneX Group in the second quarter worth approximately $1,972,000. Thrivent Financial for Lutherans grew its position in StoneX Group by 1.2% in the second quarter. Thrivent Financial for Lutherans now owns 43,561 shares of the company's stock worth $3,970,000 after acquiring an additional 510 shares during the period. Finally, MRP Capital Investments LLC grew its position in StoneX Group by 0.6% in the second quarter. MRP Capital Investments LLC now owns 25,530 shares of the company's stock worth $2,327,000 after acquiring an additional 155 shares during the period. Institutional investors and hedge funds own 75.93% of the company's stock.

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.

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