StoneX Group (NASDAQ:SNEX) Trading Up 5.6% on Better-Than-Expected Earnings

Shares of StoneX Group Inc. (NASDAQ:SNEX) were up 5.6% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $120.65 and last traded at $117.65. Approximately 26,790 shares changed 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, topping analysts’ consensus estimates of $2.15 by $0.39. StoneX Group had a return on equity of 16.66% and a net margin of 0.26%.

Insider Activity

In other news, Director John Moore Fowler sold 1,800 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $100.14, for a total value of $180,252.00. Following the transaction, the director now owns 81,375 shares in the company, valued at approximately $8,148,892.50. This represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On StoneX Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its position in shares of StoneX Group by 72.2% during the 3rd quarter. Jane Street Group LLC now owns 23,621 shares of the company’s stock worth $1,934,000 after buying an additional 9,900 shares during the last quarter. International Assets Investment Management LLC raised its stake in StoneX Group by 8,088.0% during the 3rd quarter. International Assets Investment Management LLC now owns 24,564 shares of the company’s stock worth $2,011,000 after acquiring an additional 24,264 shares in the last quarter. Foundry Partners LLC purchased a new stake in StoneX Group in the third quarter valued at $5,348,000. Principal Financial Group Inc. boosted its stake in StoneX Group by 11.0% in the third quarter. Principal Financial Group Inc. now owns 149,442 shares of the company’s stock valued at $12,236,000 after acquiring an additional 14,784 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in shares of StoneX Group by 38.6% during the third quarter. Royce & Associates LP now owns 154,744 shares of the company’s stock worth $12,670,000 after purchasing an additional 43,126 shares during the last quarter. 75.93% of the stock is owned by institutional investors and hedge funds.

StoneX Group Price Performance

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 firm has a market cap of $3.75 billion, a price-to-earnings ratio of 14.68 and a beta of 0.78. The stock has a 50-day moving average price of $102.76 and a 200 day moving average price of $91.47.

StoneX Group shares are set 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 closing bell 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.