StoneX Group (NASDAQ:SNEX) Shares Gap Up – Here’s Why

StoneX Group Inc. (NASDAQ:SNEX)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $81.61, but opened at $83.35. StoneX Group shares last traded at $79.98, with a volume of 39,444 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, William Blair started coverage on shares of StoneX Group in a research note on Wednesday. They issued an “outperform” rating on the stock.

StoneX Group Trading Down 3.3 %

The company has a quick ratio of 1.29, a current ratio of 1.77 and a debt-to-equity ratio of 1.33. The stock’s fifty day moving average price is $76.51 and its two-hundred day moving average price is $67.11. The company has a market capitalization of $3.80 billion, a PE ratio of 9.43 and a beta of 0.77.

StoneX Group (NASDAQ:SNEX) last announced its earnings results on Wednesday, February 5th. The company reported $1.69 EPS for the quarter, beating 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%. Sell-side analysts anticipate that StoneX Group Inc. will post 8.7 earnings per share for the current year.

Insider Transactions at StoneX Group

In other news, insider Glenn Henry Stevens sold 22,500 shares of the firm’s 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 owns 116,946 shares in the company, valued at $9,185,718.48. This trade represents a 16.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 11.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Kestra Investment Management LLC purchased a new stake in StoneX Group in the fourth quarter worth about $31,000. Smartleaf Asset Management LLC grew its stake in shares of StoneX Group by 250.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 656 shares of the company’s stock worth $64,000 after buying an additional 469 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in StoneX Group during the 4th quarter valued at approximately $75,000. KBC Group NV raised its stake in StoneX Group by 39.0% during the fourth quarter. KBC Group NV now owns 1,309 shares of the company’s stock valued at $128,000 after buying an additional 367 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in StoneX Group in the fourth quarter worth $129,000. 75.93% of the stock is currently owned by institutional investors.

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.