Nine Ten Capital Management LLC Cuts Stock Position in StoneX Group Inc. $SNEX

Nine Ten Capital Management LLC trimmed its stake in StoneX Group Inc. (NASDAQ:SNEX) by 85.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,679 shares of the company’s stock after selling 495,300 shares during the quarter. StoneX Group comprises about 3.1% of Nine Ten Capital Management LLC’s holdings, making the stock its 8th biggest position. Nine Ten Capital Management LLC’s holdings in StoneX Group were worth $10,034,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of StoneX Group during the second quarter valued at about $1,343,877,000. California State Teachers Retirement System grew its stake in shares of StoneX Group by 12,481.9% in the 2nd quarter. California State Teachers Retirement System now owns 9,739,752 shares of the company’s stock valued at $1,154,161,000 after buying an additional 9,662,341 shares during the period. Price T Rowe Associates Inc. MD increased its position in StoneX Group by 18.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,851,468 shares of the company’s stock valued at $271,261,000 after buying an additional 439,771 shares in the last quarter. Dimensional Fund Advisors LP increased its position in StoneX Group by 50.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,107,795 shares of the company’s stock valued at $169,976,000 after buying an additional 704,493 shares in the last quarter. Finally, State Street Corp raised its stake in StoneX Group by 0.3% during the 4th quarter. State Street Corp now owns 1,829,897 shares of the company’s stock worth $174,078,000 after buying an additional 6,220 shares during the period. 75.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNEX. Zacks Research raised StoneX Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Weiss Ratings lowered StoneX Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 28th. Jefferies Financial Group cut StoneX Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $123.00 to $112.00 in a report on Monday, July 20th. Finally, Wall Street Zen downgraded shares of StoneX Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, StoneX Group has an average rating of “Moderate Buy” and an average target price of $112.00.

Insider Activity at StoneX Group

In related news, CEO Philip Smith sold 77,310 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $79.15, for a total value of $6,118,828.80. Following the transaction, the chief executive officer owned 738,216 shares in the company, valued at $58,427,335.68. The trade was a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Maurer sold 52,648 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $66.25, for a total value of $3,487,930.00. Following the transaction, the insider owned 236,964 shares in the company, valued at $15,698,865. The trade was a 18.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 995,872 shares of company stock valued at $78,942,625 over the last three months. 11.79% of the stock is currently owned by corporate insiders.

StoneX Group Price Performance

NASDAQ:SNEX opened at $69.07 on Wednesday. The company has a market cap of $8.33 billion, a P/E ratio of 16.49 and a beta of 0.63. The firm’s fifty day moving average price is $72.25 and its two-hundred day moving average price is $73.31. StoneX Group Inc. has a one year low of $36.45 and a one year high of $94.66. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.82 and a quick ratio of 1.39.

StoneX Group (NASDAQ:SNEX) last released its quarterly 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. The business had revenue of $39.71 billion for the quarter, compared to analyst estimates of $1.32 billion. StoneX Group had a net margin of 0.33% and a return on equity of 20.18%. Equities analysts expect that StoneX Group Inc. will post 4.35 earnings per share for the current year.

StoneX Group Company 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.