StoneX Group (NASDAQ:SNEX) Hits New 52-Week High – Time to Buy?

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

StoneX Group Stock Down 2.4 %

The firm has a market capitalization of $3.97 billion, a PE ratio of 14.79 and a beta of 0.78. The business’s 50 day simple moving average is $106.94 and its 200 day simple moving average is $94.70. The company has a current ratio of 1.77, a quick ratio of 1.29 and a debt-to-equity ratio of 1.33.

StoneX Group’s stock is scheduled to split on Monday, March 24th. The 3-2 split was announced on Wednesday, February 5th. The newly issued shares will be distributed to shareholders after the closing bell on Friday, March 21st.

StoneX Group (NASDAQ:SNEX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $2.54 EPS for the quarter, topping 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%. On average, equities research analysts forecast that StoneX Group Inc. will post 8.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Glenn Henry Stevens sold 15,000 shares of StoneX Group stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $117.82, for a total transaction of $1,767,300.00. Following the completion of the transaction, the insider now directly owns 77,964 shares of the company’s stock, valued at approximately $9,185,718.48. The trade was a 16.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On StoneX Group

A number of large investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted its stake in shares of StoneX Group by 4.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,895 shares of the company’s stock worth $284,000 after purchasing an additional 119 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of StoneX Group by 0.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 15,232 shares of the company’s stock worth $1,492,000 after acquiring an additional 132 shares in the last quarter. Hohimer Wealth Management LLC raised its stake in shares of StoneX Group by 2.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 6,778 shares of the company’s stock worth $555,000 after acquiring an additional 137 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of StoneX Group by 0.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 16,146 shares of the company’s stock worth $1,322,000 after acquiring an additional 145 shares in the last quarter. Finally, Freedom Investment Management Inc. grew its position in StoneX Group by 2.3% during the 3rd quarter. Freedom Investment Management Inc. now owns 7,051 shares of the company’s stock worth $577,000 after purchasing an additional 160 shares during the last quarter. 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.