Abigail H. Perkins, Chief Information Officer of StoneX Group Inc. (NASDAQ:SNEX), recently reported significant stock transactions. According to InvestingPro data, SNEX has demonstrated strong momentum with a 46% return over the past year and currently maintains a "GOOD" Financial Health score. On December 13, Perkins acquired 4,118 restricted shares of common stock, as part of the company's Executive Performance Plan. These shares were issued at no cost and are set to vest equally over three years.
Following this acquisition, Perkins sold a total of 4,350 shares of StoneX common stock on December 17. The sale included 4,200 shares sold at an average price of $95.8959 and an additional 150 shares at $96.96. The total value of these sales amounted to $417,306. After these transactions, Perkins holds 19,979 shares directly and 225 shares indirectly through ownership by children.
These transactions highlight Perkins' ongoing involvement in managing her stake in StoneX Group, a company known for its role in security and commodity brokerage services.
In other recent news, StoneX Group Inc. has amplified its presence in India by inaugurating new offices in Pune and Bengaluru, adding 800 seats to its operations. This expansion is part of StoneX's strategy to tap into India's rich talent in technology and financial services. The company's Global Capability Centre in India, established in 2019, has seen significant growth, employing over 550 staff locally.
StoneX has also ventured into precious metals trading in India, establishing an office in GIFT City and initiating trading on the India International Bullion Exchange in June 2024. In a strategic move, StoneX acquired JBR Recovery Ltd., a UK-based leader in precious metal recovery and refining, expanding its metals offering and control over the supply chain to meet the increasing demand for recycled silver.
Furthermore, StoneX has made changes to its corporate bylaws and initiated a stock repurchase program. The amendments include new procedural requirements for stockholder meetings and proxy solicitations, and a provision for advance notice for stockholder proposals and director nominations. The Board authorized a stock repurchase plan for fiscal year 2025, with StoneX potentially repurchasing up to 1.5 million shares of its common stock. These are among the recent developments at StoneX.
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