StoneX Group (NASDAQ:SNEX) Shares Gap Up – Time to Buy?

Shares of StoneX Group Inc. (NASDAQ:SNEX) 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.

Analyst Upgrades and Downgrades

Separately, William Blair started coverage on shares of StoneX Group in a report on Wednesday. They issued an “outperform” rating for the company.

StoneX Group Stock Performance

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

StoneX Group (NASDAQ:SNEX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.26. StoneX Group had a return on equity of 16.83% and a net margin of 0.26%. Equities research analysts predict that StoneX Group Inc. will post 8.7 earnings per share for the current year.

Insiders Place Their Bets

In other StoneX Group news, insider Glenn Henry Stevens sold 22,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $78.55, for a total transaction of $1,767,300.00. Following the completion of the sale, the insider now directly owns 116,946 shares of the company’s stock, valued at approximately $9,185,718.48. This represents a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.