Zacks Research Upgrades StoneX Group (NASDAQ:SNEX) to "Strong-Buy"

Key Points

• Zacks Research upgraded StoneX to a “Strong-Buy”, joining several other firms in raising ratings and leaving the stock with a consensus “Buy” and an average target price of $122.
• StoneX beat earnings expectations with EPS $2.07 vs. $1.60 consensus, but revenue missed at $826.4M vs. $1.37B; the company reported a net margin of 0.25% and ROE of 16.43%.
• Company insiders have sold a total of 151,550 shares (~$17.9M) in the past 90 days; insiders own 11.79% of the stock while institutional investors hold about 75.93%.

StoneX Group (NASDAQ:SNEX - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

SNEX has been the topic of a number of other research reports. Weiss Ratings upgraded StoneX Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Jefferies Financial Group upped their target price on StoneX Group from $99.00 to $122.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. William Blair reissued an "outperform" rating on shares of StoneX Group in a research note on Monday, March 9th. Finally, Wall Street Zen upgraded shares of StoneX Group from a "hold" rating to a "buy" rating in a research report on Sunday, April 5th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $122.00.

StoneX Group Stock Down 1.5%

SNEX opened at $106.39 on Tuesday. The company has a fifty day moving average of $101.76 and a two-hundred day moving average of $101.43. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 23.82 and a beta of 0.64. StoneX Group has a fifty-two week low of $53.52 and a fifty-two week high of $109.50. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.34 and a current ratio of 1.80.

StoneX Group (NASDAQ:SNEX - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.47. StoneX Group had a net margin of 0.25% and a return on equity of 16.43%. The business had revenue of $826.40 million for the quarter, compared to analyst estimates of $1.37 billion. On average, research analysts expect that StoneX Group will post 5.8 earnings per share for the current year.

Insider Buying and Selling

In other StoneX Group news, insider Abigail H. Perkins sold 8,000 shares of StoneX Group stock in a transaction on Friday, February 13th. The shares were sold at an average price of $126.72, for a total transaction of $1,013,760.00. Following the sale, the insider owned 48,259 shares of the company's stock, valued at $6,115,380.48. The trade was a 14.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Philip Andrew Smith sold 30,000 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $92.23, for a total transaction of $2,766,900.00. Following the completion of the sale, the chief executive officer owned 514,719 shares of the company's stock, valued at $47,472,533.37. This trade represents a 5.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,550 shares of company stock worth $17,888,228 in the last ninety days. Company insiders own 11.79% of the company's stock.

Hedge Funds Weigh In On StoneX Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC grew its holdings in StoneX Group by 4,133.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 254 shares of the company's stock valued at $26,000 after buying an additional 248 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of StoneX Group by 1,100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 264 shares of the company's stock worth $27,000 after acquiring an additional 242 shares during the period. AlphaQuest LLC boosted its position in shares of StoneX Group by 28,000.0% during the 3rd quarter. AlphaQuest LLC now owns 281 shares of the company's stock valued at $28,000 after acquiring an additional 280 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of StoneX Group by 48.8% during the 1st quarter. Sterling Capital Management LLC now owns 476 shares of the company's stock valued at $38,000 after acquiring an additional 156 shares during the last quarter. Finally, Transamerica Financial Advisors LLC grew its holdings in shares of StoneX Group by 183.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 433 shares of the company's stock valued at $41,000 after purchasing an additional 280 shares during the period. Hedge funds and other 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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