StoneX Group (NASDAQ:SNEX) Cut to “Hold” at Zacks Research

Zacks Research cut shares of StoneX Group (NASDAQ:SNEX) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks reports.

Several other analysts also recently weighed in on the company. Wall Street Zen downgraded StoneX Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group downgraded StoneX Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $123.00 to $112.00 in a research report on Monday, July 20th. Finally, Weiss Ratings lowered StoneX Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $112.00.

StoneX Group Stock Down 6.9%

StoneX Group stock opened at $61.46 on Monday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.82 and a quick ratio of 1.39. StoneX Group has a fifty-two week low of $36.45 and a fifty-two week high of $94.66. The firm has a fifty day moving average price of $68.33 and a two-hundred day moving average price of $71.71. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 14.67 and a beta of 0.62.

StoneX Group (NASDAQ:SNEX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.14. The company had revenue of $39.71 billion for the quarter, compared to the consensus estimate of $1.32 billion. StoneX Group had a return on equity of 20.18% and a net margin of 0.33%. As a group, analysts forecast that StoneX Group will post 4.35 earnings per share for the current year.

Insider Transactions at StoneX Group

In other news, insider Diego Rotsztain sold 20,298 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $67.13, for a total value of $1,362,604.74. Following the completion of the transaction, the insider owned 34,870 shares in the company, valued at approximately $2,340,823.10. This represents a 36.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Abigail Perkins sold 8,924 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $68.83, for a total transaction of $614,238.92. Following the transaction, the insider directly owned 87,739 shares of the company’s stock, valued at $6,039,075.37. The trade was a 9.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 731,928 shares of company stock worth $51,626,582. 11.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNEX. B. Metzler seel. Sohn & Co. AG bought a new position in shares of StoneX Group in the second quarter valued at about $3,079,000. Bank of America Corp DE bought a new stake in StoneX Group during the 2nd quarter worth about $51,370,000. Coppell Advisory Solutions LLC acquired a new stake in StoneX Group in the 2nd quarter valued at about $3,738,000. Deutsche Bank AG acquired a new stake in StoneX Group in the 2nd quarter valued at about $13,328,000. Finally, Man Group plc bought a new position in shares of StoneX Group in the second quarter worth about $3,495,000. Institutional investors own 75.93% of the company’s stock.

StoneX Group Company Profile

StoneX Group Inc is a global financial services company that provides execution, clearing, custody, payments, market intelligence and risk-management solutions. Through its businesses, the company serves commercial and institutional clients, asset managers, broker-dealers, government and nonprofit organizations, and retail investors.

StoneX offers access to a broad range of markets and products, including equities, fixed income, foreign exchange, commodities, futures and options. Its services include institutional trading and clearing, physical commodities and hedging solutions, global payments, securities financing, wealth-management support and online trading for individual investors.

The company operates through a global network serving clients across North America, Latin America, Europe, Asia and other international markets.