StoneX Group (NASDAQ:SNEX) Hits New 1-Year High – Here’s Why

StoneX Group Inc. (NASDAQ:SNEXGet Free Report)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $125.93 and last traded at $124.15, with a volume of 113627 shares trading hands. The stock had previously closed at $122.09.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNEX. Wall Street Zen raised StoneX Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of StoneX Group in a research note on Friday, May 22nd. William Blair reaffirmed an “outperform” rating on shares of StoneX Group in a research note on Monday, March 9th. Finally, Zacks Research raised StoneX Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, StoneX Group currently has an average rating of “Buy” and an average target price of $122.00.

Get Our Latest Report on StoneX Group

StoneX Group Price Performance

The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 22.37 and a beta of 0.64. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.33 and a current ratio of 1.74. The company has a 50 day moving average of $105.57 and a 200 day moving average of $105.18.

Shares of StoneX Group are scheduled to split on Monday, July 20th. The 3-2 split was announced on Tuesday, May 26th. The newly issued shares will be payable to shareholders after the closing bell on Friday, July 17th.

StoneX Group (NASDAQ:SNEXGet Free Report) last released its earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.60 by $0.47. StoneX Group had a return on equity of 19.31% and a net margin of 0.30%.The firm had revenue of $826.40 million during the quarter, compared to analysts’ expectations of $1.37 billion. As a group, equities research analysts anticipate that StoneX Group Inc. will post 6 EPS for the current year.

Insider Buying and Selling at StoneX Group

In other news, insider Diego Rotsztain sold 20,054 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $111.48, for a total transaction of $2,235,619.92. Following the completion of the transaction, the insider directly owned 36,943 shares of the company’s stock, valued at approximately $4,118,405.64. This represents a 35.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip Andrew Smith sold 30,000 shares of the company’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $92.23, for a total value of $2,766,900.00. Following the transaction, the chief executive officer directly owned 514,719 shares of the company’s stock, valued at approximately $47,472,533.37. This represents a 5.51% 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. In the last quarter, insiders sold 443,129 shares of company stock worth $48,574,614. Corporate insiders own 11.79% of the company’s stock.

Institutional Trading of StoneX Group

Large investors have recently made changes to their positions in the company. AlphaQuest LLC boosted its position in shares of StoneX Group by 28,000.0% in the 3rd quarter. AlphaQuest LLC now owns 281 shares of the company’s stock valued at $28,000 after purchasing an additional 280 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of StoneX Group in the 1st quarter valued at about $34,000. Sterling Capital Management LLC boosted its position in shares of StoneX Group by 48.8% in the 1st quarter. Sterling Capital Management LLC now owns 476 shares of the company’s stock valued at $38,000 after purchasing an additional 156 shares during the period. Transamerica Financial Advisors LLC boosted its position in shares of StoneX Group by 183.0% in the 4th 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. Finally, International Assets Investment Management LLC acquired a new stake in shares of StoneX Group in the 4th quarter valued at about $50,000. 75.93% of the stock is owned by institutional investors and hedge funds.

About StoneX Group

(Get Free Report)

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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