StoneX Group (NASDAQ:SNEX) Shares Gap Down After Insider Selling

Shares of StoneX Group Inc. (NASDAQ:SNEX) gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $76.02, but opened at $67.24. StoneX Group shares last traded at $69.8140, with a volume of 426,388 shares trading hands.

Specifically, Director John Moore Fowler sold 1,575 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $75.41, for a total value of $118,770.75. Following the completion of the transaction, the director owned 255,271 shares of the company’s stock, valued at approximately $19,249,986.11. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

SNEX has been the subject of several research reports. Weiss Ratings downgraded shares of StoneX Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Jefferies Financial Group lowered StoneX Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $123.00 to $112.00 in a report on Monday, July 20th. Zacks Research cut StoneX Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Wall Street Zen downgraded StoneX Group from a “buy” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, StoneX Group has a consensus rating of “Moderate Buy” and a consensus price target of $112.00.

StoneX Group Price Performance

The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 15.72 and a beta of 0.66. The stock’s fifty day moving average price is $79.50 and its two-hundred day moving average price is $74.85. The company has a current ratio of 1.82, a quick ratio of 1.33 and a debt-to-equity ratio of 1.45.

StoneX Group (NASDAQ:SNEX) last issued its earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.14. StoneX Group had a net margin of 0.33% and a return on equity of 20.18%. The firm had revenue of $718.00 million during the quarter, compared to the consensus estimate of $1.32 billion. Equities research analysts expect that StoneX Group Inc. will post 4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in StoneX Group during the second quarter worth approximately $42,000. Cassaday & Co Wealth Management LLC purchased a new position in StoneX Group in the first quarter valued at approximately $34,000. Transamerica Financial Advisors LLC raised its holdings in StoneX Group by 183.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 433 shares of the company’s stock worth $41,000 after purchasing an additional 280 shares in the last quarter. Sterling Capital Management LLC raised its holdings in StoneX Group by 48.7% during the first quarter. Sterling Capital Management LLC now owns 476 shares of the company’s stock worth $38,000 after purchasing an additional 156 shares in the last quarter. Finally, Basecamp Wealth Advisors LLC lifted its position in shares of StoneX Group by 49.7% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 512 shares of the company’s stock worth $41,000 after buying an additional 170 shares during the last quarter. Hedge funds and other 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.