StoneX Group (NASDAQ:SNEX) Shares Down 2.4% - Should You Sell?

StoneX Group Inc. (NASDAQ:SNEX - Get Free Report) dropped 2.4% during mid-day trading on Monday . The stock traded as low as $74.50 and last traded at $76.32. Approximately 80,904 shares changed hands during trading, a decline of 65% from the average daily volume of 231,872 shares. The stock had previously closed at $78.22.

Wall Street Analysts Forecast Growth

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

StoneX Group Stock Down 3.2 %

The company has a 50-day moving average of $76.89 and a two-hundred day moving average of $67.28. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.77 and a quick ratio of 1.29. The company has a market capitalization of $3.66 billion, a PE ratio of 9.10 and a beta of 0.77.

StoneX Group (NASDAQ:SNEX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.69 earnings per share 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 fiscal year.

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Insider Transactions at StoneX Group

In other news, insider Glenn Henry Stevens sold 22,500 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $9,185,718.48. This represents a 16.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 11.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Investment Management LLC purchased a new position in shares of StoneX Group in the fourth quarter worth $31,000. Smartleaf Asset Management LLC increased its holdings in StoneX Group by 250.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 656 shares of the company's stock valued at $64,000 after acquiring an additional 469 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in StoneX Group in the 4th quarter valued at $75,000. KBC Group NV lifted its stake in StoneX Group by 39.0% in the 4th quarter. KBC Group NV now owns 1,309 shares of the company's stock worth $128,000 after purchasing an additional 367 shares in the last quarter. Finally, USA Financial Formulas bought a new position in shares of StoneX Group during the 4th quarter valued at about $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.