Wasatch Advisors LP Increases Stock Holdings in Marex Group plc Ordinary Shares $MRX

Wasatch Advisors LP increased its position in Marex Group plc Ordinary Shares (NASDAQ:MRX) by 883.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,683,061 shares of the company’s stock after acquiring an additional 1,511,952 shares during the quarter. Wasatch Advisors LP’s holdings in Marex Group plc Ordinary Shares were worth $102,583,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC grew its stake in 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 acquiring an additional 131,436 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Marex Group plc Ordinary Shares by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 908,596 shares of the company’s stock worth $39,115,000 after purchasing an additional 93,863 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 valued at $21,600,000 after purchasing an additional 48,752 shares during the period. Bank of America Corp DE boosted its holdings in Marex Group plc Ordinary Shares by 34.3% in the 1st quarter. Bank of America Corp DE now owns 385,026 shares of the company’s stock valued at $17,164,000 after purchasing an additional 98,334 shares during the period. Finally, Swedbank AB grew 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 purchasing an additional 141,000 shares in the last quarter.

Marex Group plc Ordinary Shares Stock Performance

Marex Group plc Ordinary Shares stock opened at $59.93 on Wednesday. The firm’s fifty day moving average is $63.14. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.07 and a current ratio of 1.08. The stock has a market cap of $4.37 billion, a PE ratio of 13.62 and a beta of -0.10. Marex Group plc Ordinary Shares has a fifty-two week low of $27.91 and a fifty-two week high of $71.18.

Analyst Ratings Changes

A number of brokerages recently issued reports on MRX. TD Cowen increased their price objective on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Keefe, Bruyette & Woods boosted their target price on Marex Group plc Ordinary Shares from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Barclays upped their target price on Marex Group plc Ordinary Shares from $60.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings upgraded Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Finally, Piper Sandler boosted their price objective on Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Marex Group plc Ordinary Shares has a consensus rating of “Buy” and an average price target of $75.14.

Insider Buying and Selling

In related news, insider Thomas Texier sold 1,572 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $53.35, for a total value of $83,866.20. Following the transaction, the insider owned 207,019 shares of the company’s stock, valued at $11,044,463.65. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

About Marex Group plc Ordinary Shares

Marex Group PLC is a financial services platform, providing liquidity, market access, and infrastructure services to clients in the energy, commodities, and financial markets. The Group’s operating segments are: Clearing, Agency and Execution, Market Making, Hedging and Investment Solutions, and Corporate. Maximum revenue is generated from the Agency and Execution segment, which offers liquidity and execution services to clients mainly in the energy and financial securities markets by connecting buyers and sellers in the energy markets, offering liquidity and risk management solutions for financial markets, and providing clearing, custody, capital introduction, portfolio financing, and outsourced trading services.