StoneX Group (NASDAQ:SNEX) Shares Gap Up - Here's What Happened

Shares of StoneX Group Inc. (NASDAQ:SNEX - Get Free Report) gapped up prior to trading 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.

Analyst Ratings Changes

Separately, William Blair assumed coverage on StoneX Group in a research report on Wednesday. They issued an "outperform" rating on the stock.

StoneX Group Stock Down 3.2 %

The firm has a market capitalization of $3.66 billion, a P/E ratio of 9.09 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 company has a 50 day simple moving average of $77.02 and a two-hundred day simple moving average of $67.56.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $1.69 earnings per share (EPS) 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%. On average, equities analysts predict that StoneX Group Inc. will post 8.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Glenn Henry Stevens sold 22,500 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.55, for a total value of $1,767,300.00. Following the sale, the insider now 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 legal filing with the SEC, which can be accessed through this link. 11.70% of the stock is currently owned by company insiders.

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Institutional Trading of StoneX Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of StoneX Group by 2.8% during the third quarter. State Street Corp now owns 1,147,861 shares of the company's stock valued at $93,987,000 after buying an additional 31,681 shares during the last quarter. American Century Companies Inc. lifted its position in shares of StoneX Group by 17.7% during the fourth quarter. American Century Companies Inc. now owns 1,014,231 shares of the company's stock worth $99,364,000 after purchasing an additional 152,847 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of StoneX Group by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 677,333 shares of the company's stock valued at $66,372,000 after purchasing an additional 6,076 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of 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 purchasing an additional 37,808 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in StoneX Group by 2.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 521,073 shares of the company's stock worth $51,050,000 after buying an additional 10,222 shares during the period. 75.93% of the stock is owned by hedge funds and other 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.