Insider Selling: Marex Group plc Ordinary Shares (NASDAQ:MRX) Insider Sells $1,200,451.98 in Stock

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

Marex Group plc Ordinary Shares Stock Down 2.5%

NASDAQ:MRX opened at $70.50 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 1.53. The firm has a market cap of $5.14 billion, a P/E ratio of 13.88 and a beta of -0.02. The stock’s fifty day moving average price is $71.97. Marex Group plc Ordinary Shares has a 52-week low of $29.83 and a 52-week high of $79.11.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $1.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $695.80 million for the quarter. During the same period last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. As a group, equities analysts anticipate that Marex Group plc Ordinary Shares will post 6.11 earnings per share for the current year.

Marex Group plc Ordinary Shares Announces Dividend

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

Hedge Funds Weigh In On Marex Group plc Ordinary Shares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP boosted its holdings in 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 worth $102,583,000 after acquiring an additional 1,511,952 shares during the period. Jennison Associates LLC raised its stake in shares of Marex Group plc Ordinary Shares by 8.9% during the first quarter. Jennison Associates LLC now owns 1,606,691 shares of the company’s stock valued at $71,626,000 after purchasing an additional 131,436 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Marex Group plc Ordinary Shares by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 908,596 shares of the company’s stock valued at $39,115,000 after purchasing an additional 93,863 shares during the period. Bank of New York Mellon Corp raised its stake in shares of 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 purchasing an additional 48,752 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of 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 worth $17,164,000 after purchasing an additional 98,334 shares in the last quarter.

Analyst Ratings Changes

MRX has been the topic of several recent analyst reports. Piper Sandler increased their target price on Marex Group plc Ordinary Shares from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 2nd. Compass Point set a $80.00 target price on shares of Marex Group plc Ordinary Shares in a research report on Thursday, July 9th. Keefe, Bruyette & Woods increased their target price on shares of Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Jefferies Financial Group raised their price target on shares of Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Barclays lifted their price target on shares of Marex Group plc Ordinary Shares from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to data from MarketBeat.com, Marex Group plc Ordinary Shares currently has a consensus rating of “Buy” and an average target price of $83.38.

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.