Marex Group plc Ordinary Shares (NASDAQ:MRX) Price Target Raised to $95.00

Marex Group plc Ordinary Shares (NASDAQ:MRX) had its target price raised by research analysts at Barclays from $92.00 to $95.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 39.44% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on MRX. Piper Sandler lifted their price objective on shares of Marex Group plc Ordinary Shares from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 2nd. UBS Group increased their target price on shares of Marex Group plc Ordinary Shares from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings lowered shares of Marex Group plc Ordinary Shares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. William Blair initiated coverage on shares of Marex Group plc Ordinary Shares in a research note on Wednesday, October 14th. They set an “outperform” rating on the stock. Finally, Compass Point set a $80.00 price target on shares of Marex Group plc Ordinary Shares in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Marex Group plc Ordinary Shares has a consensus rating of “Buy” and a consensus target price of $83.75.

Marex Group plc Ordinary Shares Stock Performance

MRX stock traded up $3.17 during trading on Friday, reaching $68.13. 139,395 shares of the company’s stock were exchanged, compared to its average volume of 849,634. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 1.53. Marex Group plc Ordinary Shares has a 1-year low of $31.19 and a 1-year high of $79.11. The company’s fifty day moving average price is $71.40 and its 200-day moving average price is $64.02. The firm has a market cap of $4.97 billion, a PE ratio of 12.23 and a beta of 0.07.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last released its quarterly earnings results on Thursday, November 5th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.15. Marex Group plc Ordinary Shares had a return on equity of 27.94% and a net margin of 17.43%. The company had revenue of $743.20 million during the quarter. During the same period in the previous year, the company posted $0.96 EPS. The company’s revenue for the quarter was up 53.4% compared to the same quarter last year. On average, research analysts expect that Marex Group plc Ordinary Shares will post 6.11 EPS for the current fiscal year.

Insider Buying and Selling at Marex Group plc Ordinary Shares

In other news, insider Paolo Tonucci sold 16,666 shares of Marex Group plc Ordinary Shares 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 transaction, the insider owned 1,252,905 shares of the company’s stock, valued at $90,246,747.15. The trade was a 1.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.79% of the company’s stock.

Institutional Trading of Marex Group plc Ordinary Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRX. Wasatch Advisors LP boosted its position in shares of Marex Group plc Ordinary Shares by 883.6% in the 2nd quarter. Wasatch Advisors LP now owns 1,683,061 shares of the company’s stock valued at $102,583,000 after purchasing an additional 1,511,952 shares during the period. Jennison Associates LLC raised its holdings in Marex Group plc Ordinary Shares by 8.9% during the 1st quarter. Jennison Associates LLC now owns 1,606,691 shares of the company’s stock worth $71,626,000 after buying an additional 131,436 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Marex Group plc Ordinary Shares by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 908,596 shares of the company’s stock worth $39,115,000 after buying an additional 93,863 shares during the period. Bank of New York Mellon Corp lifted its stake in Marex Group plc Ordinary Shares by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 484,524 shares of the company’s stock valued at $21,600,000 after buying an additional 48,752 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Marex Group plc Ordinary Shares by 34.3% during the first quarter. Bank of America Corp DE now owns 385,026 shares of the company’s stock valued at $17,164,000 after buying an additional 98,334 shares in the last quarter.

Marex Group plc Ordinary Shares Company Profile

Marex Group plc is a diversified financial services platform that provides execution, clearing, market-making, hedging and other trading-related services to institutional clients, corporations, asset managers, hedge funds and professional traders. The company operates across a range of asset classes, including commodities, futures and options, foreign exchange, fixed income and equities.

Its businesses support clients throughout the trading lifecycle, from accessing markets and obtaining liquidity to clearing transactions and managing financial and commodity price risk.