Punch & Associates Investment Management Inc. Buys Shares of 694,090 StoneX Group Inc. $SNEX

Punch & Associates Investment Management Inc. bought a new stake in StoneX Group Inc. (NASDAQ:SNEX) during the 2nd quarter, Holdings Channel reports. The fund bought 694,090 shares of the company’s stock, valued at approximately $82,250,000. StoneX Group accounts for about 4.1% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its largest holding.

Other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in StoneX Group in the second quarter valued at approximately $1,343,877,000. Wasatch Advisors LP acquired a new position in shares of StoneX Group in the 2nd quarter valued at $139,730,000. Dimensional Fund Advisors LP lifted its stake 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 during the period. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $271,261,000 after purchasing an additional 439,771 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of StoneX Group in the 2nd quarter worth $51,370,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNEX. Zacks Research upgraded StoneX Group from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Jefferies Financial Group lowered StoneX Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $123.00 to $112.00 in a research report on Monday, July 20th. Weiss Ratings cut StoneX Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Finally, Wall Street Zen cut StoneX Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $112.00.

Insiders Place Their Bets

In other StoneX Group news, CEO Philip Andrew Smith sold 77,310 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $79.15, for a total transaction of $6,118,828.80. Following the sale, the chief executive officer directly owned 738,216 shares in the company, valued at approximately $58,427,335.68. This trade represents a 9.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO William J. Dunaway sold 96,490 shares of StoneX Group stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $66.35, for a total transaction of $6,402,111.50. Following the completion of the transaction, the chief financial officer directly owned 502,203 shares in the company, valued at approximately $33,321,169.05. The trade was a 16.12% decrease in their position. 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 1,002,340 shares of company stock valued at $79,453,640 over the last 90 days. 11.79% of the stock is owned by company insiders.

StoneX Group Stock Performance

Shares of StoneX Group stock opened at $69.24 on Thursday. The stock’s fifty day simple moving average is $75.87 and its 200 day simple moving average is $74.28. The company has a current ratio of 1.82, a quick ratio of 1.39 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $8.35 billion, a PE ratio of 16.53 and a beta of 0.66. StoneX Group Inc. has a 12 month low of $36.45 and a 12 month high of $94.66.

StoneX Group (NASDAQ:SNEX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.14. StoneX Group had a return on equity of 20.18% and a net margin of 0.33%.The company had revenue of $718.00 million during the quarter, compared to the consensus estimate of $1.32 billion. On average, research analysts predict that StoneX Group Inc. will post 4.35 EPS 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.