StoneX Group (NASDAQ:SNEX) Shares Gap Up – Here’s Why

StoneX Group Inc. (NASDAQ:SNEX) gapped up prior to trading on Wednesday . The stock had previously closed at $81.61, but opened at $83.35. StoneX Group shares last traded at $79.98, with a volume of 39,444 shares changing hands.

Analyst Upgrades and Downgrades

Separately, William Blair assumed coverage on StoneX Group in a research note on Wednesday. They issued an “outperform” rating on the stock.

StoneX Group Price Performance

The stock’s 50-day moving average price is $76.89 and its 200 day moving average price is $67.28. The company has a quick ratio of 1.29, a current ratio of 1.77 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 9.39 and a beta of 0.77.

StoneX Group (NASDAQ:SNEX) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.26. StoneX Group had a net margin of 0.26% and a return on equity of 16.83%. Equities research analysts expect that StoneX Group Inc. will post 8.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Glenn Henry Stevens sold 22,500 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $78.55, for a total transaction of $1,767,300.00. Following the completion of the sale, the insider now directly owns 116,946 shares in the company, valued at approximately $9,185,718.48. This trade represents a 16.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.70% of the stock is currently owned by corporate insiders.

Institutional Trading of StoneX Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SNEX. Wealth Enhancement Advisory Services LLC grew its position in StoneX Group by 16.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,024 shares of the company’s stock worth $492,000 after acquiring an additional 711 shares during the period. Jefferies Financial Group Inc. grew its holdings in shares of StoneX Group by 1,386.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 37,300 shares of the company’s stock worth $3,654,000 after purchasing an additional 34,790 shares during the period. Mackenzie Financial Corp purchased a new position in shares of StoneX Group during the 4th quarter worth $312,000. Ashford Capital Management Inc. raised its holdings in StoneX Group by 4.7% in the 4th quarter. Ashford Capital Management Inc. now owns 293,350 shares of the company’s stock valued at $28,740,000 after buying an additional 13,120 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in StoneX Group by 24.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,052 shares of the company’s stock valued at $6,765,000 after buying an additional 13,614 shares during the last quarter. 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.