StoneX Group (NASDAQ:SNEX) Hits New 1-Year High – Here’s Why

StoneX Group Inc. (NASDAQ:SNEX)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $125.93 and last traded at $124.15, with a volume of 113627 shares. The stock had previously closed at $122.09.

Analysts Set New Price Targets

Several research firms recently commented on SNEX. William Blair reaffirmed an “outperform” rating on shares of StoneX Group in a report on Monday, March 9th. Wall Street Zen raised StoneX Group from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of StoneX Group in a report on Friday, May 22nd. Finally, Zacks Research raised StoneX Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, StoneX Group presently has a consensus rating of “Buy” and an average price target of $122.00.

StoneX Group Price Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.74 and a quick ratio of 1.33. The stock has a 50 day moving average price of $105.57 and a 200-day moving average price of $105.18. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 22.37 and a beta of 0.64.

StoneX Group shares are scheduled to split before the market opens on Monday, July 20th. The 3-2 split was announced on Tuesday, May 26th. The newly minted shares will be issued to shareholders after the closing bell on Friday, July 17th.

StoneX Group (NASDAQ:SNEX) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.47. The firm had revenue of $826.40 million for the quarter, compared to analyst estimates of $1.37 billion. StoneX Group had a return on equity of 19.31% and a net margin of 0.30%. On average, analysts forecast that StoneX Group Inc. will post 6 earnings per share for the current year.

Insider Transactions at StoneX Group

In related news, CFO William J. Dunaway sold 64,017 shares of StoneX Group stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $110.46, for a total transaction of $7,071,317.82. Following the transaction, the chief financial officer owned 273,586 shares in the company, valued at approximately $30,220,309.56. This trade represents a 18.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Diego Rotsztain sold 13,696 shares of StoneX Group stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $112.79, for a total value of $1,544,771.84. Following the transaction, the insider owned 23,247 shares in the company, valued at approximately $2,622,029.13. The trade was a 37.07% decrease in their position. 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 sold 443,129 shares of company stock valued at $48,574,614. Insiders own 11.79% of the company’s stock.

Hedge Funds Weigh In On StoneX Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in StoneX Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,031,545 shares of the company’s stock worth $383,521,000 after buying an additional 11,240 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in StoneX Group by 18.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,851,468 shares of the company’s stock worth $271,261,000 after buying an additional 439,771 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in StoneX Group by 50.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,107,795 shares of the company’s stock worth $169,976,000 after buying an additional 704,493 shares in the last quarter. State Street Corp raised its position in StoneX Group by 0.3% in the fourth quarter. State Street Corp now owns 1,829,897 shares of the company’s stock valued at $174,078,000 after purchasing an additional 6,220 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in StoneX Group by 24.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,499,292 shares of the company’s stock valued at $142,628,000 after purchasing an additional 294,203 shares during the period. 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.