StoneX Group Inc. $SNEX Stock Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its stake in StoneX Group Inc. (NASDAQ:SNEX) by 134.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,956 shares of the company’s stock after purchasing an additional 61,812 shares during the period. Illinois Municipal Retirement Fund’s holdings in StoneX Group were worth $6,978,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SNEX. Rakuten Securities Inc. acquired a new stake in shares of StoneX Group during the second quarter worth $26,000. Root Financial Partners LLC purchased a new position in StoneX Group in the 3rd quarter valued at $31,000. Fortitude Family Office LLC increased its stake in StoneX Group by 1,175.0% in the 3rd quarter. Fortitude Family Office LLC now owns 510 shares of the company’s stock valued at $33,000 after buying an additional 470 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in StoneX Group in the 1st quarter valued at $34,000. Finally, USA Financial Formulas acquired a new position in StoneX Group in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 75.93% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mark Maurer sold 52,953 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $60.35, for a total value of $3,195,713.55. Following the completion of the sale, the insider owned 219,663 shares in the company, valued at $13,256,662.05. This trade represents a 19.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip Smith sold 56,250 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $65.69, for a total transaction of $3,695,062.50. Following the completion of the sale, the chief executive officer owned 738,216 shares of the company’s stock, valued at $48,493,409.04. This trade represents a 7.08% 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 three months, insiders have sold 394,567 shares of company stock worth $25,321,996. Insiders own 11.79% of the company’s stock.

Wall Street Analyst Weigh In

SNEX has been the subject of several recent analyst reports. Zacks Research cut shares of StoneX Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Jefferies Financial Group lowered shares of 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 note on Monday, July 20th. Wall Street Zen lowered shares of StoneX Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut shares of StoneX Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.00.

StoneX Group Trading Down 1.6%

NASDAQ:SNEX opened at $57.11 on Friday. The stock has a fifty day moving average price of $61.99 and a two-hundred day moving average price of $70.98. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 13.63 and a beta of 0.66. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.39 and a current ratio of 1.82. StoneX Group Inc. has a 1 year low of $36.45 and a 1 year high of $94.66.

StoneX Group Company Profile

StoneX Group Inc. is a global financial services company that connects businesses, institutions and individual investors with markets. Its services include trade execution and clearing, risk management, market intelligence, and financing for participants in commodity and financial markets. The company serves commercial and institutional clients across sectors such as agriculture, energy and metals, and offers foreign exchange, securities and other trading services. Its retail business provides online trading platforms, while its payments operations support domestic and cross-border transactions.