StoneX Group Inc. (NASDAQ:SNEX) Sees Large Growth in Short Interest

StoneX Group Inc. (NASDAQ:SNEX) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,200,000 shares, an increase of 76.1% from the February 28th total of 681,400 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average daily volume of 371,300 shares, the days-to-cover ratio is presently 3.2 days.

Insider Buying and Selling

In related news, insider Glenn Henry Stevens sold 22,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $78.55, for a total value of $1,767,300.00. Following the completion of the sale, the insider now directly owns 116,946 shares of the company’s stock, valued at approximately $9,185,718.48. This represents a 16.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.70% of the stock is owned by insiders.

Institutional Investors Weigh In On StoneX Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Investment Management LLC bought a new stake in StoneX Group in the 4th quarter valued at $31,000. Smartleaf Asset Management LLC grew its position in shares of StoneX Group by 250.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 656 shares of the company’s stock valued at $64,000 after purchasing an additional 469 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of StoneX Group in the fourth quarter worth about $75,000. KBC Group NV lifted its position in shares of StoneX Group by 39.0% in the fourth quarter. KBC Group NV now owns 1,309 shares of the company’s stock worth $128,000 after buying an additional 367 shares in the last quarter. Finally, USA Financial Formulas bought a new position in StoneX Group during the fourth quarter valued at approximately $129,000. Institutional investors own 75.93% of the company’s stock.

StoneX Group Trading Down 3.2 %

Shares of SNEX stock opened at $76.12 on Monday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.29 and a current ratio of 1.77. The stock has a fifty day simple moving average of $77.02 and a two-hundred day simple moving average of $67.67. The firm has a market capitalization of $3.66 billion, a PE ratio of 9.09 and a beta of 0.77. StoneX Group has a 52-week low of $42.69 and a 52-week high of $85.49.

StoneX Group (NASDAQ:SNEX) last released its earnings results on Wednesday, February 5th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.26. StoneX Group had a return on equity of 16.83% and a net margin of 0.26%. On average, analysts predict that StoneX Group will post 8.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, William Blair initiated coverage on shares of StoneX Group in a research note on Wednesday, March 26th. They issued an “outperform” rating for the company.

About StoneX Group

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.