Short Interest in StoneX Group Inc. (NASDAQ:SNEX) Rises By 76.1%

StoneX Group Inc. (NASDAQ:SNEX) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,200,000 shares, a growth of 76.1% from the February 28th total of 681,400 shares. Based on an average daily trading volume, of 371,300 shares, the days-to-cover ratio is presently 3.2 days. Currently, 4.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, William Blair initiated coverage on StoneX Group in a research report on Wednesday. They set an “outperform” rating on the stock.

StoneX Group Stock Down 3.2 %

NASDAQ SNEX traded down $2.48 during trading hours on Friday, reaching $76.12. 444,770 shares of the company’s stock traded hands, compared to its average volume of 253,119. StoneX Group has a 52-week low of $42.69 and a 52-week high of $85.49. 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 firm has a 50-day simple moving average of $77.02 and a 200 day simple moving average of $67.45. The firm has a market cap of $3.66 billion, a PE ratio of 9.09 and a beta of 0.77.

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%. Sell-side analysts anticipate that StoneX Group will post 8.7 EPS for the current fiscal year.

Insider Transactions at StoneX Group

In related news, insider Glenn Henry Stevens sold 22,500 shares of StoneX Group 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 in the company, valued at $9,185,718.48. The trade was 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 link. Company insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On StoneX Group

Several large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in StoneX Group by 16.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,024 shares of the company’s stock worth $492,000 after buying an additional 711 shares during the last quarter. Jefferies Financial Group Inc. raised its holdings in StoneX Group by 1,386.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 37,300 shares of the company’s stock worth $3,654,000 after acquiring an additional 34,790 shares during the last quarter. Mackenzie Financial Corp bought a new position in StoneX Group in the 4th quarter valued at approximately $312,000. Ashford Capital Management Inc. boosted its stake in StoneX Group by 4.7% during the 4th quarter. Ashford Capital Management Inc. now owns 293,350 shares of the company’s stock valued at $28,740,000 after purchasing an additional 13,120 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of StoneX Group by 24.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,052 shares of the company’s stock worth $6,765,000 after purchasing an additional 13,614 shares in the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

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.