Man Group plc Invests $3.50 Million in StoneX Group Inc. $SNEX

Man Group plc acquired a new stake in shares of StoneX Group Inc. (NASDAQ:SNEX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,495 shares of the company’s stock, valued at approximately $3,495,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in StoneX Group during the 2nd quarter valued at $1,343,877,000. Vanguard Group Inc. grew its holdings in shares of StoneX Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,031,545 shares of the company’s stock worth $383,521,000 after acquiring an additional 11,240 shares during the period. Price T Rowe Associates Inc. MD increased 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 valued at $271,261,000 after acquiring an additional 439,771 shares during the last quarter. Dimensional Fund Advisors LP increased 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 valued at $169,976,000 after acquiring an additional 704,493 shares during the last quarter. Finally, State Street Corp lifted its holdings 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 acquiring an additional 6,220 shares during the period. Hedge funds and other institutional investors own 75.93% of the company’s stock.

Insider Buying and Selling at StoneX Group

In other StoneX Group news, CFO William J. Dunaway sold 96,490 shares of StoneX Group stock in a transaction on Friday, August 14th. The shares were sold at an average price of $66.35, for a total value of $6,402,111.50. Following the sale, the chief financial officer directly owned 502,203 shares in the company, valued at approximately $33,321,169.05. The trade was a 16.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dhamu R. Thamodaran acquired 2,500 shares of the company’s stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $64.48 per share, with a total value of $161,200.00. Following the acquisition, the director directly owned 75,760 shares in the company, valued at approximately $4,885,004.80. The trade was a 3.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 1,002,340 shares of company stock worth $79,453,640. Insiders own 11.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SNEX. Zacks Research upgraded StoneX Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Weiss Ratings cut shares of StoneX Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wall Street Zen downgraded shares of StoneX Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group lowered shares of StoneX Group from a “buy” rating to a “hold” rating and cut their target price for the company from $123.00 to $112.00 in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.

StoneX Group Stock Performance

SNEX opened at $68.48 on Tuesday. The company has a 50 day simple moving average of $74.42 and a two-hundred day simple moving average of $73.98. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.82 and a quick ratio of 1.39. The firm has a market cap of $8.26 billion, a P/E ratio of 16.35 and a beta of 0.66. StoneX Group Inc. has a 1-year low of $36.45 and a 1-year high of $94.66.

StoneX Group (NASDAQ:SNEX) last released its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.14. The company had revenue of $39.71 billion for the quarter, compared to analysts’ expectations of $1.32 billion. StoneX Group had a net margin of 0.33% and a return on equity of 20.18%. Equities analysts forecast that StoneX Group Inc. will post 4.35 earnings per share for the current fiscal year.

StoneX Group Profile

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.