Marex Group plc Ordinary Shares (NASDAQ:MRX) Given New $90.00 Price Target at Keefe, Bruyette & Woods

Marex Group plc Ordinary Shares (NASDAQ:MRX) had its price objective increased by equities research analysts at Keefe, Bruyette & Woods from $80.00 to $90.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 22.02% from the stock’s current price.

Several other research analysts have also issued reports on MRX. Weiss Ratings upgraded Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. UBS Group restated a “buy” rating on shares of Marex Group plc Ordinary Shares in a research note on Thursday. TD Cowen upped their target price on shares of Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Zacks Research upgraded shares of Marex Group plc Ordinary Shares from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. Finally, Barclays reissued an “overweight” rating and set a $86.00 price target on shares of Marex Group plc Ordinary Shares in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Marex Group plc Ordinary Shares presently has an average rating of “Buy” and an average price target of $78.00.

Marex Group plc Ordinary Shares Stock Performance

Shares of MRX stock traded up $2.63 during trading hours on Thursday, hitting $73.76. The company had a trading volume of 109,939 shares, compared to its average volume of 893,914. Marex Group plc Ordinary Shares has a 12 month low of $27.91 and a 12 month high of $74.00. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 16.76 and a beta of -0.10. The stock’s fifty day moving average is $63.49. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.07.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last issued its 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 business had revenue of $695.80 million during the quarter. Marex Group plc Ordinary Shares had a return on equity of 28.43% and a net margin of 15.45%.The company’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. On average, sell-side analysts expect that Marex Group plc Ordinary Shares will post 5.56 EPS for the current fiscal year.

Insider Buying and Selling at Marex Group plc Ordinary Shares

In other news, insider Thomas Texier sold 1,572 shares of the firm’s 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 completion of the sale, the insider directly owned 207,019 shares in the company, 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 filing with the SEC, which is available through this link. Company insiders own 3.79% of the company’s stock.

Institutional Investors Weigh In On Marex Group plc Ordinary Shares

Hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its stake in shares of 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 acquiring an additional 1,511,952 shares during the last quarter. Jennison Associates LLC grew 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 last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Marex Group plc Ordinary Shares by 11.5% in 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Marex Group plc Ordinary Shares by 11.2% in 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 in the last quarter. Finally, Bank of America Corp DE raised its position 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 worth $17,164,000 after purchasing an additional 98,334 shares during the last quarter.

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.