Marex Group plc Ordinary Shares (NASDAQ:MRX) Insider Paolo Tonucci Sells 16,666 Shares of Stock

Marex Group plc Ordinary Shares (NASDAQ:MRX) insider Paolo Tonucci sold 16,666 shares of the company’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $72.03, for a total value of $1,200,451.98. Following the sale, the insider owned 1,252,905 shares in the company, valued at approximately $90,246,747.15. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Marex Group plc Ordinary Shares Trading Down 3.6%

Shares of MRX opened at $69.38 on Thursday. Marex Group plc Ordinary Shares has a twelve month low of $29.82 and a twelve month high of $79.11. The stock has a market capitalization of $5.06 billion, a P/E ratio of 13.81 and a beta of -0.02. The company has a current ratio of 1.09, a quick ratio of 1.07 and a debt-to-equity ratio of 1.53. The company has a fifty day moving average price of $71.57.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last released its earnings results on Wednesday, August 12th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.28. Marex Group plc Ordinary Shares had a net margin of 17.43% and a return on equity of 27.94%. The firm had revenue of $695.80 million during the quarter. During the same quarter last year, the business posted $0.98 EPS. Marex Group plc Ordinary Shares’s revenue was up 39.1% compared to the same quarter last year. Analysts predict that Marex Group plc Ordinary Shares will post 6.12 earnings per share for the current fiscal year.

Marex Group plc Ordinary Shares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, August 24th. Marex Group plc Ordinary Shares’s dividend payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MRX shares. Jefferies Financial Group raised their price objective on shares of Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Barclays upped their target price on Marex Group plc Ordinary Shares from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Compass Point set a $80.00 target price on Marex Group plc Ordinary Shares in a research note on Thursday, July 9th. Weiss Ratings upgraded Marex Group plc Ordinary Shares from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Piper Sandler raised their price target on Marex Group plc Ordinary Shares from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $83.38.

Institutional Trading of Marex Group plc Ordinary Shares

Several institutional investors and hedge funds have recently made changes to their positions in MRX. Fifth Third Bancorp lifted its holdings in Marex Group plc Ordinary Shares by 89.5% during the 1st quarter. Fifth Third Bancorp now owns 1,209 shares of the company’s stock valued at $54,000 after buying an additional 571 shares in the last quarter. Vestor Capital LLC purchased a new stake in Marex Group plc Ordinary Shares in the 1st quarter valued at about $45,000. Keybank National Association OH grew its stake in Marex Group plc Ordinary Shares by 12.7% in the 1st quarter. Keybank National Association OH now owns 8,862 shares of the company’s stock worth $395,000 after acquiring an additional 1,001 shares in the last quarter. Sei Investments Co. grew its stake in Marex Group plc Ordinary Shares by 0.8% in the 1st quarter. Sei Investments Co. now owns 354,325 shares of the company’s stock worth $15,796,000 after acquiring an additional 2,742 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in Marex Group plc Ordinary Shares in the 2nd quarter worth about $244,000.

About Marex Group plc Ordinary Shares

Marex Group plc is a diversified financial services company that provides liquidity, market access, execution, clearing, hedging and other trading-related services to institutional, corporate and professional clients. The company operates across a range of markets, including commodities, energy, metals, agriculture, foreign exchange, interest rates, equities and credit.

Its businesses include agency and principal trading, market making, brokerage, exchange-traded and over-the-counter clearing, and the distribution of financial products.