StoneX Group Inc. $SNEX Shares Bought by Hennessy Advisors Inc.

Hennessy Advisors Inc. lifted its stake in shares of StoneX Group Inc. (NASDAQ:SNEX) by 45.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 820,700 shares of the company’s stock after buying an additional 256,100 shares during the quarter. StoneX Group makes up approximately 2.0% of Hennessy Advisors Inc.’s portfolio, making the stock its 6th biggest position. Hennessy Advisors Inc. owned 0.68% of StoneX Group worth $53,050,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in StoneX Group during the 2nd quarter worth $1,343,877,000. Dimensional Fund Advisors LP increased its holdings in shares of 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 purchasing an additional 704,493 shares in the last quarter. Van Berkom & Associates Inc. boosted its position in StoneX Group by 21.1% during the first quarter. Van Berkom & Associates Inc. now owns 1,384,258 shares of the company’s stock worth $111,640,000 after purchasing an additional 240,749 shares in the last quarter. Wasatch Advisors LP purchased a new position in StoneX Group during the 2nd quarter valued at about $139,730,000. Finally, Punch & Associates Investment Management Inc. raised its position in StoneX Group by 33.3% during the first quarter. Punch & Associates Investment Management Inc. now owns 943,579 shares of the company’s stock worth $76,100,000 after acquiring an additional 235,744 shares during the last quarter. 75.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNEX has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of StoneX Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research downgraded StoneX Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Weiss Ratings downgraded StoneX Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, October 14th. Finally, Jefferies Financial Group downgraded shares of StoneX Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $123.00 to $112.00 in a research report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, StoneX Group currently has an average rating of “Hold” and a consensus target price of $112.00.

StoneX Group Stock Performance

NASDAQ:SNEX opened at $52.83 on Monday. The company has a 50-day moving average of $64.22 and a 200-day moving average of $71.67. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 12.61 and a beta of 0.66. The company has a current ratio of 1.82, a quick ratio of 1.39 and a debt-to-equity ratio of 1.45. StoneX Group Inc. has a twelve month low of $36.45 and a twelve month high of $94.66.

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

Insiders Place Their Bets

In related news, insider Mark Maurer sold 52,953 shares of the stock in a transaction on Monday, October 12th. The stock was sold at an average price of $60.35, for a total value of $3,195,713.55. Following the completion of the transaction, the insider owned 219,663 shares in the company, valued at $13,256,662.05. This trade represents a 19.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Sean O’Connor sold 76,148 shares of StoneX Group stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $60.35, for a total value of $4,595,531.80. Following the completion of the transaction, the chairman directly owned 1,831,799 shares in the company, valued at $110,549,069.65. This represents a 3.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 548,205 shares of company stock worth $35,532,883 over the last three months. Company insiders own 11.79% of the company’s stock.

StoneX Group Profile

StoneX Group Inc is a global financial services company that provides execution, clearing, custody, market intelligence and risk-management services to commercial and institutional clients, broker-dealers, asset managers and individual investors. Through its network of regulated subsidiaries, the company offers access to a broad range of markets, including commodities, foreign exchange, equities, fixed income and derivatives.

StoneX’s services include futures and options brokerage, physical commodities and commodity hedging, foreign exchange trading, securities execution and clearing, payments, and corporate treasury solutions.