StoneX Group (NASDAQ:SNEX) Hits New 12-Month High – Should You Buy?

StoneX Group Inc. (NASDAQ:SNEX)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $138.47 and last traded at $135.73, with a volume of 2271368 shares traded. The stock had previously closed at $130.69.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SNEX shares. Weiss Ratings reissued a “buy (b-)” rating on shares of StoneX Group in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of StoneX Group from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. William Blair restated an “outperform” rating on shares of StoneX Group in a report on Monday, March 9th. Finally, Zacks Research upgraded shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $122.00.

StoneX Group Stock Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.74 and a quick ratio of 1.33. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 24.25 and a beta of 0.64. The firm’s fifty day moving average is $109.51 and its 200 day moving average is $106.45.

Shares of StoneX Group are scheduled to split before the market opens on Monday, July 20th. The 3-2 split was announced on Tuesday, May 26th. The newly minted shares will be distributed to shareholders after the market closes on Friday, July 17th.

StoneX Group (NASDAQ:SNEX) last posted its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.47. The firm had revenue of $826.40 million during the quarter, compared to analysts’ expectations of $1.37 billion. StoneX Group had a net margin of 0.30% and a return on equity of 19.31%. On average, analysts predict that StoneX Group Inc. will post 6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Sean Michael Oconnor sold 140,070 shares of StoneX Group stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $110.31, for a total value of $15,451,121.70. Following the transaction, the chairman owned 1,236,921 shares of the company’s stock, valued at $136,444,755.51. This trade represents a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Diego Rotsztain sold 20,054 shares of StoneX Group stock in a transaction that occurred on Monday, May 18th. The shares were 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 in the company, valued at approximately $4,118,405.64. This represents a 35.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 505,731 shares of company stock valued at $56,810,112. 11.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On StoneX Group

A number of institutional investors and hedge funds have recently bought and sold shares of SNEX. Royal Bank of Canada increased its position in StoneX Group by 129.0% during the first quarter. Royal Bank of Canada now owns 77,545 shares of the company’s stock worth $5,923,000 after acquiring an additional 43,678 shares during the period. NewEdge Advisors LLC bought a new position in StoneX Group during the first quarter worth $449,000. Goldman Sachs Group Inc. increased its position in StoneX Group by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 225,711 shares of the company’s stock worth $17,240,000 after acquiring an additional 13,815 shares during the period. United Services Automobile Association bought a new position in StoneX Group during the first quarter worth $210,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in StoneX Group by 55.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,125 shares of the company’s stock worth $8,182,000 after acquiring an additional 38,073 shares during the period. 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.