Short Interest in StoneX Group Inc. (NASDAQ:SNEX) Rises By 76.1%

StoneX Group Inc. (NASDAQ:SNEX) saw a significant 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. Based on an average daily volume of 371,300 shares, the short-interest ratio is presently 3.2 days. Approximately 4.2% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, William Blair began coverage on shares of StoneX Group in a report on Wednesday. They set an “outperform” rating for the company.

Insider Activity at StoneX Group

In other StoneX Group news, insider Glenn Henry Stevens sold 22,500 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $78.55, for a total value of $1,767,300.00. Following the transaction, the insider now owns 116,946 shares of the company’s stock, valued at approximately $9,185,718.48. This represents a 16.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.70% of the stock is owned by insiders.

Institutional Investors Weigh In On StoneX Group

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new position in StoneX Group during the fourth quarter valued at $16,557,000. JPMorgan Chase & Co. boosted its holdings in shares of StoneX Group by 104.3% during the 4th quarter. JPMorgan Chase & Co. now owns 329,287 shares of the company’s stock valued at $32,260,000 after purchasing an additional 168,098 shares during the last quarter. American Century Companies Inc. grew its position in shares of StoneX Group by 17.7% during the fourth quarter. American Century Companies Inc. now owns 1,014,231 shares of the company’s stock valued at $99,364,000 after purchasing an additional 152,847 shares in the last quarter. Norges Bank bought a new stake in shares of StoneX Group in the fourth quarter worth about $10,551,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of StoneX Group in the fourth quarter worth about $10,276,000. 75.93% of the stock is owned by hedge funds and other institutional investors.

StoneX Group Price Performance

Shares of SNEX stock traded down $2.48 on Friday, hitting $76.12. 444,770 shares of the stock traded hands, compared to its average volume of 253,119. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.77 and a quick ratio of 1.29. StoneX Group has a 52 week low of $42.69 and a 52 week high of $85.49. The firm has a 50 day simple moving average of $77.02 and a two-hundred day simple moving average of $67.45. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 9.09 and a beta of 0.77.

StoneX Group (NASDAQ:SNEX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.69 EPS for the quarter, beating 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%. As a group, equities research analysts predict that StoneX Group will post 8.7 earnings per share for the current fiscal year.

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.