StoneX Group (NASDAQ:SNEX) Trading 5.6% Higher Following Better-Than-Expected Earnings

StoneX Group Inc. (NASDAQ:SNEX) rose 5.6% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $120.65 and last traded at $117.65. Approximately 26,790 shares traded hands during trading, a decline of 83% from the average daily volume of 162,158 shares. The stock had previously closed at $111.42.

The company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.39. StoneX Group had a net margin of 0.26% and a return on equity of 16.66%.

Insider Buying and Selling

In other StoneX Group 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 value of $180,252.00. Following the completion of the sale, the director now directly owns 81,375 shares in the company, valued at approximately $8,148,892.50. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.70% of the stock is owned by insiders.

Hedge Funds Weigh In On StoneX Group

A number of institutional investors and hedge funds have recently modified their holdings of SNEX. State Street Corp lifted its position in shares of StoneX Group by 2.8% during the 3rd quarter. State Street Corp now owns 1,147,861 shares of the company’s stock valued at $93,987,000 after acquiring an additional 31,681 shares during the period. Geode Capital Management LLC increased its stake in StoneX Group by 2.7% in the third quarter. Geode Capital Management LLC now owns 671,257 shares of the company’s stock valued at $54,973,000 after purchasing an additional 17,769 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of StoneX Group by 6.5% during the third quarter. Rockefeller Capital Management L.P. now owns 623,182 shares of the company’s stock valued at $51,022,000 after purchasing an additional 37,808 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of StoneX Group by 1.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 332,573 shares of the company’s stock worth $27,231,000 after purchasing an additional 3,822 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of StoneX Group by 2.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 318,125 shares of the company’s stock valued at $31,167,000 after buying an additional 7,037 shares during the period. 75.93% of the stock is currently owned by institutional investors.

StoneX Group Price Performance

The business has a 50-day moving average of $102.76 and a 200 day moving average of $91.47. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $3.86 billion, a P/E ratio of 15.12 and a beta of 0.78.

StoneX Group’s stock is going to split before the market opens on Monday, March 24th. The 3-2 split was announced on Wednesday, February 5th. The newly issued shares will be issued 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.