StoneX Group (NASDAQ:SNEX) Reaches New 52-Week High on Analyst Upgrade

StoneX Group Inc. (NASDAQ:SNEX)’s share price hit a new 52-week high during trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $107.93 and last traded at $107.3810, with a volume of 98147 shares. The stock had previously closed at $105.88.

A number of other brokerages have also recently issued reports on SNEX. Wall Street Zen upgraded StoneX Group from a “hold” rating to a “buy” rating in a report on Sunday, April 5th. William Blair reiterated an “outperform” rating on shares of StoneX Group in a research report on Monday, March 9th. Weiss Ratings raised shares of StoneX Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Finally, Jefferies Financial Group boosted their price objective on shares of StoneX Group from $99.00 to $122.00 and gave the company a “buy” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $122.00.

Insider Activity

In other news, CEO Philip Andrew Smith sold 30,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $92.23, for a total transaction of $2,766,900.00. Following the sale, the chief executive officer owned 514,719 shares of the company’s stock, valued at $47,472,533.37. This trade represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Charles M. Lyon sold 30,000 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $124.78, for a total value of $3,743,400.00. Following the sale, the president directly owned 150,330 shares of the company’s stock, valued at approximately $18,758,177.40. The trade was a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 151,550 shares of company stock valued at $17,888,228. Company insiders own 11.79% of the company’s stock.

Key Headlines Impacting StoneX Group

Here are the key news stories impacting StoneX Group this week:

• Positive Sentiment: Q2 earnings beat and strong operating revenue — StoneX reported EPS of $2.07, ahead of consensus, and announced record quarterly net operating revenues (about $829M, up ~70%), which supports earnings momentum and valuation re-rating. StoneX Q2 results press release
• Positive Sentiment: Analyst upgrade and positive momentum screens — Zacks upgraded SNEX to a stronger rating and highlighted the stock’s recent price strength, which can drive buy-side interest and short-term momentum. Zacks upgrade
• Positive Sentiment: Investor engagement event — The Benchmark Company (a StoneX subsidiary) is hosting its 4th Annual Consumer One?on?One conference in NYC, providing a forum for management to meet institutional investors and potentially widen the buyer base. Benchmark conference announcement
• Neutral Sentiment: Company provided transcript, slide deck and conference call — Availability of the earnings transcript and slide deck increases transparency for investors evaluating forward guidance and segment performance. Earnings transcript
• Neutral Sentiment: Insider sale disclosed — A director sold 1,050 shares under a pre-arranged 10b5-1 plan; given the plan disclosure and continued large insider holdings, this trade is not an obvious signal of weakening fundamentals. Insider sale filing
• Negative Sentiment: Revenue vs. some street estimates — while the company reported record operating revenues, some summaries show top-line results below certain analyst revenue expectations, which could temper upside if investors focus on revenue vs. higher consensus figures. MarketBeat earnings summary

Institutional Investors Weigh In On StoneX Group

Several large investors have recently made changes to their positions in SNEX. Van Berkom & Associates Inc. lifted its position in StoneX Group by 21.1% in the 1st quarter. Van Berkom & Associates Inc. now owns 1,384,258 shares of the company’s stock valued at $111,640,000 after acquiring an additional 240,749 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in StoneX Group by 50.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,107,795 shares of the company’s stock worth $169,976,000 after purchasing an additional 704,493 shares in the last quarter. KBC Group NV increased its holdings in StoneX Group by 85.4% during the 1st quarter. KBC Group NV now owns 2,316 shares of the company’s stock worth $187,000 after purchasing an additional 1,067 shares in the last quarter. Swiss National Bank raised its stake in shares of StoneX Group by 50.5% in the 1st quarter. Swiss National Bank now owns 131,663 shares of the company’s stock valued at $10,619,000 after purchasing an additional 44,188 shares during the period. Finally, ANB Bank lifted its holdings in shares of StoneX Group by 49.2% in the first quarter. ANB Bank now owns 4,329 shares of the company’s stock valued at $349,000 after purchasing an additional 1,428 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.

StoneX Group Trading Up 13.6%

The company has a quick ratio of 1.34, a current ratio of 1.80 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $9.51 billion, a P/E ratio of 21.60 and a beta of 0.64. The business has a fifty day moving average price of $101.63 and a 200 day moving average price of $101.58.

StoneX Group (NASDAQ:SNEX) last announced its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.47. StoneX Group had a return on equity of 20.17% and a net margin of 0.30%.The business had revenue of $826.40 million for the quarter, compared to analyst estimates of $1.37 billion. On average, analysts expect that StoneX Group Inc. will post 5.8 earnings per share for the current fiscal 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.