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

StoneX Group Inc. (NASDAQ:SNEX) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 3,171,077 shares, a growth of 68.7% from the March 15th total of 1,880,202 shares. Based on an average trading volume of 1,149,138 shares, the days-to-cover ratio is currently 2.8 days. Approximately 4.6% of the shares of the stock are short sold.

StoneX Group Stock Performance

SNEX traded up $6.47 during trading on Monday, hitting $99.37. The stock had a trading volume of 1,166,221 shares, compared to its average volume of 690,199. The firm has a market cap of $7.82 billion, a PE ratio of 22.25 and a beta of 0.42. StoneX Group has a 12 month low of $50.91 and a 12 month high of $100.05. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 1.34. The company has a 50 day simple moving average of $107.66 and a 200-day simple moving average of $100.87.

StoneX Group (NASDAQ:SNEX) last announced its earnings results on Wednesday, February 4th. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.06 by $0.44. The firm had revenue of $724.00 million for the quarter, compared to the consensus estimate of $1.24 billion. StoneX Group had a net margin of 0.25% and a return on equity of 16.43%. Analysts expect that StoneX Group will post 8.7 EPS for the current year.

Insider Buying and Selling at StoneX Group

In related news, Chairman Sean Michael Oconnor sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $124.95, for a total transaction of $4,998,000.00. Following the transaction, the chairman owned 854,127 shares in the company, valued at $106,723,168.65. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Lowry Maurer sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $124.88, for a total transaction of $4,995,200.00. Following the transaction, the insider owned 90,331 shares in the company, valued at $11,280,535.28. This represents a 30.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 120,125 shares of company stock valued at $14,983,688. 11.79% of the stock is currently owned by company insiders.

Institutional Trading of StoneX Group

Several hedge funds and other institutional investors have recently bought and sold shares of SNEX. Private Trust Co. NA grew its position in StoneX Group by 2,109.1% in the 3rd quarter. Private Trust Co. NA now owns 243 shares of the company’s stock worth $25,000 after purchasing an additional 232 shares during the last quarter. Cornerstone Planning Group LLC grew its position in StoneX Group by 4,133.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 254 shares of the company’s stock worth $26,000 after purchasing an additional 248 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in StoneX Group by 1,100.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 264 shares of the company’s stock worth $27,000 after purchasing an additional 242 shares during the last quarter. AlphaQuest LLC grew its position in StoneX Group by 28,000.0% in the 3rd quarter. AlphaQuest LLC now owns 281 shares of the company’s stock worth $28,000 after purchasing an additional 280 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in StoneX Group in the 3rd quarter worth $37,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNEX. Jefferies Financial Group raised their price objective on shares of StoneX Group from $99.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. William Blair restated an “outperform” rating on shares of StoneX Group in a report on Monday, March 9th. Wall Street Zen upgraded shares of StoneX Group from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. Weiss Ratings upgraded shares of StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Finally, Zacks Research cut shares of StoneX Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.00.

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.