Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock Rated “Buy” by Wall Street Brokerages

Marex Group plc Ordinary Shares (NASDAQ:MRX) has earned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $83.38.

A number of analysts have recently weighed in on MRX shares. Weiss Ratings upgraded shares of Marex Group plc Ordinary Shares from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Compass Point set a $80.00 target price on shares of Marex Group plc Ordinary Shares in a research report on Thursday, July 9th. UBS Group upped their price target on shares of Marex Group plc Ordinary Shares from $82.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, August 13th. The Goldman Sachs Group reiterated a “buy” rating and set a $80.00 price objective on shares of Marex Group plc Ordinary Shares in a research note on Friday, August 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, August 13th.

Marex Group plc Ordinary Shares Stock Down 3.6%

Marex Group plc Ordinary Shares stock opened at $69.38 on Thursday. The business’s 50-day moving average price is $71.57. The firm has a market capitalization of $5.06 billion, a P/E ratio of 13.81 and a beta of -0.02. Marex Group plc Ordinary Shares has a 52 week low of $29.82 and a 52 week high of $79.11. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.09 and a quick ratio of 1.07.

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

Marex Group plc Ordinary Shares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend 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 (DPR) is 11.49%.

Insider Activity 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 transaction of $1,200,451.98. Following the completion of the transaction, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its stake in shares of Marex Group plc Ordinary Shares by 883.6% during the 2nd 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 period. SG Americas Securities LLC lifted its position in shares of Marex Group plc Ordinary Shares by 1,217.4% during the 1st quarter. SG Americas Securities LLC now owns 184,519 shares of the company’s stock valued at $8,226,000 after buying an additional 170,513 shares in the last quarter. Walleye Capital LLC lifted its position in shares of Marex Group plc Ordinary Shares by 1,369.6% during the 1st quarter. Walleye Capital LLC now owns 159,830 shares of the company’s stock valued at $7,125,000 after buying an additional 148,954 shares in the last quarter. Swedbank AB lifted its position in shares of 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. Finally, Jennison Associates LLC grew its stake in Marex Group plc Ordinary Shares by 8.9% in the 1st quarter. Jennison Associates LLC now owns 1,606,691 shares of the company’s stock valued at $71,626,000 after acquiring an additional 131,436 shares during the period.

Marex Group plc Ordinary Shares Company Profile

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.