StoneX Group (NASDAQ:SNEX) Reaches New 52-Week High – Here’s Why

StoneX Group Inc. (NASDAQ:SNEX) hit a new 52-week high on Wednesday . The company traded as high as $122.35 and last traded at $122.05, with a volume of 87051 shares changing hands. The stock had previously closed at $121.27.

StoneX Group Stock Down 2.4 %

The stock’s 50 day simple moving average is $106.94 and its two-hundred day simple moving average is $94.70. The firm has a market cap of $3.97 billion, a P/E ratio of 14.79 and a beta of 0.78. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.77 and a quick ratio of 1.29.

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

StoneX Group (NASDAQ:SNEX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $2.54 EPS 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 16.83%. As a group, research analysts forecast that StoneX Group Inc. will post 8.7 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Glenn Henry Stevens sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $117.82, for a total value of $1,767,300.00. Following the sale, the insider now owns 77,964 shares in the company, valued at approximately $9,185,718.48. This trade represents a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On StoneX Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in StoneX Group by 2.8% in the third quarter. State Street Corp now owns 1,147,861 shares of the company’s stock worth $93,987,000 after purchasing an additional 31,681 shares during the last quarter. American Century Companies Inc. raised its position in StoneX Group by 17.7% in the fourth quarter. American Century Companies Inc. now owns 1,014,231 shares of the company’s stock worth $99,364,000 after acquiring an additional 152,847 shares during the period. Geode Capital Management LLC raised its position in StoneX Group by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 677,333 shares of the company’s stock worth $66,372,000 after acquiring an additional 6,076 shares during the period. Rockefeller Capital Management L.P. raised its position in StoneX Group by 6.5% in the third quarter. Rockefeller Capital Management L.P. now owns 623,182 shares of the company’s stock worth $51,022,000 after acquiring an additional 37,808 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in StoneX Group by 2.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 521,073 shares of the company’s stock worth $51,050,000 after acquiring an additional 10,222 shares during the period. Hedge funds and other 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.