SummerHaven Investment Management LLC Sells 6,811 Shares of StoneX Group Inc. $SNEX

SummerHaven Investment Management LLC lessened its holdings in StoneX Group Inc. (NASDAQ:SNEX) by 43.6% during the third quarter, HoldingsChannel reports. The fund owned 8,813 shares of the company’s stock after selling 6,811 shares during the quarter. SummerHaven Investment Management LLC’s holdings in StoneX Group were worth $889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of StoneX Group by 19.8% in the second quarter. American Century Companies Inc. now owns 2,352,849 shares of the company’s stock worth $214,439,000 after purchasing an additional 389,132 shares during the last quarter. State Street Corp grew its holdings in StoneX Group by 0.5% during the second quarter. State Street Corp now owns 1,755,298 shares of the company’s stock worth $159,978,000 after buying an additional 8,350 shares in the last quarter. Geode Capital Management LLC raised its position in StoneX Group by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,093,388 shares of the company’s stock valued at $99,663,000 after buying an additional 5,054 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in StoneX Group by 71.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 612,325 shares of the company’s stock valued at $55,807,000 after acquiring an additional 256,081 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in StoneX Group by 383.8% during the 3rd quarter. Hennessy Advisors Inc. now owns 542,800 shares of the company’s stock valued at $54,779,000 after acquiring an additional 430,600 shares in the last quarter. 75.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on SNEX. Zacks Research downgraded shares of StoneX Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of StoneX Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Insider Buying and Selling at StoneX Group

In other news, Chairman John Radziwill acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average cost of $97.25 per share, for a total transaction of $97,250.00. Following the purchase, the chairman owned 101,596 shares of the company’s stock, valued at approximately $9,880,211. The trade was a 0.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Moore Fowler sold 1,125 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $91.20, for a total transaction of $102,600.00. Following the sale, the director directly owned 114,769 shares in the company, valued at approximately $10,466,932.80. This trade represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,979 shares of company stock worth $659,070 over the last ninety days. 11.70% of the stock is currently owned by company insiders.

StoneX Group Stock Up 0.7%

SNEX opened at $108.66 on Wednesday. StoneX Group Inc. has a twelve month low of $65.00 and a twelve month high of $111.33. The company’s 50-day moving average price is $97.76 and its two-hundred day moving average price is $96.29. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 18.44 and a beta of 0.46. The company has a quick ratio of 1.35, a current ratio of 1.72 and a debt-to-equity ratio of 1.56.

StoneX Group (NASDAQ:SNEX) last issued its quarterly earnings results on Monday, November 24th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.01). StoneX Group had a return on equity of 15.27% and a net margin of 0.23%.The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business earned $2.32 EPS. As a group, equities analysts expect that StoneX Group Inc. will post 8.7 earnings per share for the current year.

About StoneX Group

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.