Marex Group plc Ordinary Shares (NASDAQ:MRX) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms also recently commented on MRX. Keefe, Bruyette & Woods started coverage on Marex Group plc Ordinary Shares in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $60.00 price objective on the stock. UBS Group upped their price objective on Marex Group plc Ordinary Shares from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. 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. Barclays upped their price objective on Marex Group plc Ordinary Shares from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, TD Cowen boosted their target price on shares of Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Marex Group plc Ordinary Shares currently has an average rating of “Buy” and a consensus price target of $63.75.

Marex Group plc Ordinary Shares Trading Up 2.3%

Marex Group plc Ordinary Shares stock opened at $63.35 on Wednesday. Marex Group plc Ordinary Shares has a 12 month low of $27.91 and a 12 month high of $63.71. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.76. The firm has a 50 day moving average price of $53.85. The stock has a market capitalization of $4.62 billion, a P/E ratio of 14.40 and a beta of -0.01.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $1.48 EPS for the quarter. Marex Group plc Ordinary Shares had a return on equity of 28.43% and a net margin of 15.45%.The business had revenue of $692.30 million for the quarter. As a group, equities research analysts forecast that Marex Group plc Ordinary Shares will post 5.35 earnings per share for the current fiscal year.

Marex Group plc Ordinary Shares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Monday, May 18th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. Marex Group plc Ordinary Shares’s payout ratio is presently 14.55%.

Insider Transactions at Marex Group plc Ordinary Shares

In other Marex Group plc Ordinary Shares news, insider Thomas Texier sold 1,572 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $53.35, for a total transaction of $83,866.20. Following the sale, the insider owned 207,019 shares of the company’s stock, valued at $11,044,463.65. The trade was a 0.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Marex Group plc Ordinary Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of MRX. Pale Fire Capital SE bought a new position in shares of Marex Group plc Ordinary Shares in the first quarter worth $239,000. Walleye Capital LLC increased its holdings in shares of Marex Group plc Ordinary Shares by 1,369.6% in the first quarter. Walleye Capital LLC now owns 159,830 shares of the company’s stock worth $7,125,000 after purchasing an additional 148,954 shares during the period. Militia Capital Management LLC bought a new position in shares of Marex Group plc Ordinary Shares in the first quarter worth $3,813,000. Jennison Associates LLC increased its holdings in shares of Marex Group plc Ordinary Shares by 8.9% in the first quarter. Jennison Associates LLC now owns 1,606,691 shares of the company’s stock worth $71,626,000 after purchasing an additional 131,436 shares during the period. Finally, 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 worth $39,115,000 after purchasing an additional 93,863 shares during the period.

Marex Group plc Ordinary Shares Company Profile

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.