Wall Street Zen Upgrades StoneX Group (NASDAQ:SNEX) to “Buy”

StoneX Group (NASDAQ:SNEX) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

A number of other analysts have also recently commented on SNEX. Weiss Ratings upgraded shares of StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Jefferies Financial Group lifted their price objective on shares of StoneX Group from $99.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Zacks Research raised shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Finally, William Blair restated an “outperform” rating on shares of StoneX Group in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $122.00.

StoneX Group Stock Performance

Shares of SNEX opened at $84.36 on Friday. StoneX Group has a fifty-two week low of $43.33 and a fifty-two week high of $88.38. The business has a 50-day moving average of $109.63 and a 200 day moving average of $100.98. The firm has a market cap of $6.64 billion, a P/E ratio of 18.89 and a beta of 0.42. 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) last released its quarterly earnings data on Wednesday, February 4th. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.06 by $0.44. The business had revenue of $724.00 million for the quarter, compared to the consensus estimate of $1.24 billion. StoneX Group had a net margin of 0.25% and a return on equity of 16.43%. As a group, research analysts forecast that StoneX Group will post 8.7 EPS for the current year.

Insider Activity

In other news, President Charles M. Lyon sold 30,000 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $124.78, for a total value of $3,743,400.00. Following the sale, the president directly owned 150,330 shares of the company’s stock, valued at approximately $18,758,177.40. This represents a 16.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Sean Michael Oconnor sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $124.95, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chairman owned 854,127 shares of the company’s stock, valued at $106,723,168.65. This trade represents a 4.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 120,125 shares of company stock valued at $14,983,688. 11.79% of the stock is currently owned by insiders.

Institutional Trading of StoneX Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of StoneX Group by 34.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,020,305 shares of the company’s stock valued at $405,729,000 after purchasing an additional 1,027,489 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of StoneX Group by 18.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,851,468 shares of the company’s stock worth $271,261,000 after buying an additional 439,771 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in StoneX Group by 383.8% during the third quarter. Hennessy Advisors Inc. now owns 542,800 shares of the company’s stock valued at $54,779,000 after buying an additional 430,600 shares during the period. Goldentree Asset Management LP purchased a new position in StoneX Group during the second quarter worth about $32,482,000. Finally, T. Rowe Price Investment Management Inc. grew its position in StoneX Group by 24.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,499,292 shares of the company’s stock worth $142,628,000 after buying an additional 294,203 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

StoneX Group Company Profile

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.