StoneX Group (NASDAQ:SNEX) Reaches New 52-Week High Following Strong Earnings Report

Shares of StoneX Group Inc. (NASDAQ:SNEX - Get Free Report) reached a new 52-week high during trading on Wednesday, buoyed by a robust earnings report that exceeded expectations. The stock hit a peak price of $111.42 before closing at the same value, with a trading volume of 194,295 shares. Prior to this, the stock had closed at $108.37.

The company announced earnings of $2.54 per share for the quarter, significantly beating the consensus estimate of $2.15 by $0.39. StoneX Group reported a net margin of 0.26% and a return on equity of 16.66%.

Insider Transactions

In related news, Director John Moore Fowler sold 1,800 shares of the company’s stock on November 22nd. The shares were sold at an average price of $100.14, totaling $180,252. After this transaction, the director owns 81,375 shares of the company, valued at approximately $8.15 million, reflecting a 2.16% decrease in their ownership. This sale was documented in a filing with the Securities and Exchange Commission, available for public viewing. Currently, insiders hold about 11.70% of the stock.

Institutional Activity

Several hedge funds have recently adjusted their holdings in StoneX Group. In the fourth quarter, Kestra Investment Management LLC acquired a new stake valued at approximately $31,000. Huntington National Bank increased its stake by an impressive 1,906.9% in the third quarter, owning 582 shares now valued at $48,000, after purchasing an additional 553 shares. Furthermore, KBC Group NV boosted its holdings by 39.0%, owning 1,309 shares worth $128,000 after acquiring 367 additional shares. USA Financial Formulas and Longboard Asset Management LP also made new investments in StoneX Group during this period, with stakes valued at $129,000 and $202,000, respectively. Institutional investors currently possess 75.93% of the company's stock.

Stock Performance Overview

StoneX Group's stock is up 2.8%, characterized by a debt-to-equity ratio of 1.26 and a current ratio of 1.81. The company’s fifty-day moving average price stands at $102.62, while its 200-day moving average is $91.33. StoneX Group boasts a market capitalization of $3.57 billion, a price-to-earnings (P/E) ratio of 14.00, and a beta of 0.78.

About StoneX Group

StoneX Group Inc. operates as a global financial services network, connecting businesses, organizations, traders, and investors to markets worldwide. The company's operations are divided into several segments: Commercial, Institutional, Retail, and Global Payments. The Commercial segment focuses on risk management and hedging, as well as execution and clearing of exchange-traded and OTC products, voice brokerage, market intelligence, physical trading, and commodity financing and logistics services.

Investment Considerations

Before deciding to invest in StoneX Group, it's important to gather comprehensive insights. Market analysts have identified other stocks that may provide stronger investment opportunities than StoneX Group, currently labeled with a "Hold" rating. Investors are encouraged to look into five recommended stocks that are gaining attention.

Note: This article aims to provide information formatted in a straightforward manner without referencing specific sources.

StoneX, Earnings, Institutional