Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock Has Consensus Price Target of $83.38 According to Brokerages

Shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) have received an average rating of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $83.38.

Several analysts have recently weighed in on MRX shares. UBS Group lifted their price objective on shares of Marex Group plc Ordinary Shares from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Jefferies Financial Group increased their target price 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. Compass Point set a $80.00 price target on Marex Group plc Ordinary Shares in a research note on Thursday, July 9th. Barclays increased their price target on Marex Group plc Ordinary Shares from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Finally, Weiss Ratings cut Marex Group plc Ordinary Shares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, October 26th.

Insiders Place Their Bets

In other Marex Group plc Ordinary Shares news, insider Paolo Tonucci sold 16,666 shares of the company’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $72.03, for a total transaction of $1,200,451.98. Following the transaction, the insider owned 1,252,905 shares in the company, valued at approximately $90,246,747.15. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP increased its position in Marex Group plc Ordinary Shares by 883.6% in the second quarter. Wasatch Advisors LP now owns 1,683,061 shares of the company’s stock worth $102,583,000 after buying an additional 1,511,952 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Marex Group plc Ordinary Shares in the first quarter valued at $1,758,000. Handelsbanken Fonder AB bought a new position in Marex Group plc Ordinary Shares in the 2nd quarter worth about $1,048,000. Bank of New York Mellon Corp boosted its stake in Marex Group plc Ordinary Shares by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 484,524 shares of the company’s stock worth $21,600,000 after purchasing an additional 48,752 shares during the period. Finally, Swedbank AB grew its holdings in Marex Group plc Ordinary Shares by 66.1% during the 1st quarter. Swedbank AB now owns 354,413 shares of the company’s stock valued at $15,800,000 after buying an additional 141,000 shares in the last quarter.

Marex Group plc Ordinary Shares Price Performance

Marex Group plc Ordinary Shares stock opened at $70.34 on Monday. 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 market capitalization of $5.13 billion, a PE ratio of 13.12 and a beta of 0.07. Marex Group plc Ordinary Shares has a 12 month low of $30.30 and a 12 month high of $79.11. The stock has a 50-day moving average price of $71.54 and a two-hundred day moving average price of $64.01.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last released its quarterly earnings results on Wednesday, August 12th. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.28. Marex Group plc Ordinary Shares had a return on equity of 27.94% and a net margin of 17.43%. The firm had revenue of $695.80 million for the quarter. During the same quarter last year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 39.1% on a year-over-year basis. Analysts expect that Marex Group plc Ordinary Shares will post 6.11 EPS for the current year.

Marex Group plc Ordinary Shares Announces Dividend

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

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.