William Blair Begins Coverage on StoneX Group (NASDAQ:SNEX)

Equities researchers at William Blair assumed coverage on shares of StoneX Group (NASDAQ:SNEX) in a report issued on Wednesday, Marketbeat reports. The firm set an “outperform” rating on the stock.

StoneX Group Price Performance

Shares of NASDAQ:SNEX opened at $78.60 on Wednesday. The company has a market cap of $3.78 billion, a PE ratio of 9.39 and a beta of 0.77. StoneX Group has a fifty-two week low of $42.69 and a fifty-two week high of $85.49. The firm has a 50-day simple moving average of $76.89 and a 200 day simple moving average of $67.28. The company has a quick ratio of 1.29, a current ratio of 1.77 and a debt-to-equity ratio of 1.33.

StoneX Group (NASDAQ:SNEX) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.26. StoneX Group had a return on equity of 16.83% and a net margin of 0.26%. On average, sell-side analysts anticipate that StoneX Group will post 8.7 EPS for the current year.

Insider Activity

In related news, insider Glenn Henry Stevens sold 22,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $78.55, for a total value of $1,767,300.00. Following the completion of the transaction, the insider now directly owns 116,946 shares of the company’s stock, valued at $9,185,718.48. This represents a 16.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 11.70% of the company’s stock.

Institutional Trading of StoneX Group

Several hedge funds have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. grew its stake in shares of StoneX Group by 4.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,895 shares of the company’s stock worth $284,000 after purchasing an additional 119 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in StoneX Group by 0.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 15,232 shares of the company’s stock valued at $1,492,000 after buying an additional 132 shares in the last quarter. Hohimer Wealth Management LLC increased its stake in StoneX Group by 2.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 6,778 shares of the company’s stock valued at $555,000 after buying an additional 137 shares during the period. Freedom Investment Management Inc. raised its position in shares of StoneX Group by 2.3% during the 3rd quarter. Freedom Investment Management Inc. now owns 7,051 shares of the company’s stock worth $577,000 after buying an additional 160 shares in the last quarter. Finally, Focus Partners Wealth raised its position in shares of StoneX Group by 2.1% during the 4th quarter. Focus Partners Wealth now owns 8,109 shares of the company’s stock worth $794,000 after buying an additional 164 shares in the last quarter. Institutional investors own 75.93% of the company’s stock.

StoneX Group Company Profile

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.