Brokerages Set Marex Group plc Ordinary Shares (NASDAQ:MRX) PT at $82.00

Shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $82.00.

Several research firms have commented on MRX. Piper Sandler increased their price target on shares of Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Compass Point set a $80.00 price objective 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 company an “outperform” rating in a research report on Thursday, August 13th. Zacks Research upgraded shares of Marex Group plc Ordinary Shares from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings raised shares of Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 27th.

Marex Group plc Ordinary Shares Stock Up 0.4%

Marex Group plc Ordinary Shares stock opened at $70.85 on Wednesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.07 and a current ratio of 1.09. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 12.72 and a beta of -0.10. The business’s fifty day moving average is $65.52. Marex Group plc Ordinary Shares has a twelve month low of $27.91 and a twelve month high of $75.40.

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, topping the consensus estimate of $1.36 by $0.28. The firm had revenue of $695.80 million during the quarter. Marex Group plc Ordinary Shares had a return on equity of 27.94% and a net margin of 17.43%.During the same period in the previous year, the firm posted $0.98 earnings per share. The company’s revenue was up 39.1% on a year-over-year basis. Equities analysts expect that Marex Group plc Ordinary Shares will post 5.84 earnings per share for the current year.

Marex Group plc Ordinary Shares Announces Dividend

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

Insider Buying and Selling

In other Marex Group plc Ordinary Shares news, insider Thomas Texier sold 1,572 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $53.35, for a total value of $83,866.20. Following the completion of the sale, the insider owned 207,019 shares of the company’s stock, valued at approximately $11,044,463.65. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Marex Group plc Ordinary Shares

Institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP increased its stake in 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 valued at $102,583,000 after purchasing an additional 1,511,952 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Marex Group plc Ordinary Shares by 1,217.4% during the first quarter. SG Americas Securities LLC now owns 184,519 shares of the company’s stock worth $8,226,000 after buying an additional 170,513 shares during the period. Walleye Capital LLC grew its holdings in shares of Marex Group plc Ordinary Shares by 1,369.6% during the first 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 during the last quarter. Swedbank AB grew its holdings in shares of Marex Group plc Ordinary Shares by 66.1% during the first 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 during the last quarter. Finally, Jennison Associates LLC increased its position in shares of 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.

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.