StoneX Group (NASDAQ:SNEX) Hits New 1-Year High After Better-Than-Expected Earnings

StoneX Group Inc. (NASDAQ:SNEX) shares hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $111.42 and last traded at $111.42, with a volume of 194295 shares traded. The stock had previously closed at $108.37.

The company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.39. StoneX Group had a return on equity of 16.66% and a net margin of 0.26%.

Insider Buying and Selling

In related news, Director John Moore Fowler sold 1,800 shares of StoneX Group stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $100.14, for a total transaction of $180,252.00. Following the completion of the transaction, the director now directly owns 81,375 shares in the company, valued at $8,148,892.50. The trade was a 2.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On StoneX Group

Several hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in StoneX Group by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,907 shares of the company’s stock worth $1,198,000 after purchasing an additional 785 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of StoneX Group during the 3rd quarter worth about $227,000. Simplicity Wealth LLC grew its holdings in shares of StoneX Group by 17.5% during the third quarter. Simplicity Wealth LLC now owns 7,509 shares of the company’s stock worth $615,000 after buying an additional 1,119 shares in the last quarter. CX Institutional acquired a new position in shares of StoneX Group in the third quarter valued at approximately $2,823,000. Finally, Creative Planning lifted its stake in shares of StoneX Group by 21.0% during the third quarter. Creative Planning now owns 3,839 shares of the company’s stock valued at $314,000 after buying an additional 667 shares during the period. Hedge funds and other institutional investors own 75.93% of the company’s stock.

StoneX Group Stock Performance

The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 14.00 and a beta of 0.78. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.81 and a quick ratio of 1.30. The stock’s 50-day moving average is $102.62 and its 200-day moving average is $91.33.

StoneX Group shares are going to split on the morning of Monday, March 24th. The 3-2 split was announced on Wednesday, February 5th. The newly issued shares will be distributed to shareholders after the market closes on Friday, March 21st.

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.