Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock Gets Price Target Increase from Barclays

Marex Group plc Ordinary Shares (NASDAQ:MRX) had its price objective hoisted by equities researchers at Barclays from $92.00 to $95.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 43.55% from the company’s previous close.

A number of other equities analysts have also recently commented on MRX. Compass Point set a $80.00 price target on Marex Group plc Ordinary Shares in a report on Thursday, July 9th. Keefe, Bruyette & Woods upped their price objective on 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. William Blair initiated coverage on Marex Group plc Ordinary Shares in a research note on Wednesday, October 14th. They issued an “outperform” rating on the stock. Weiss Ratings cut Marex Group plc Ordinary Shares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Finally, Jefferies Financial Group boosted their target price on Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $83.75.

Marex Group plc Ordinary Shares Stock Up 1.9%

Shares of MRX opened at $66.18 on Friday. Marex Group plc Ordinary Shares has a one year low of $31.19 and a one year high of $79.11. The company has a market cap of $4.83 billion, a P/E ratio of 10.85 and a beta of 0.07. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.09 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $71.30 and a two-hundred day simple moving average of $64.04.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last released its earnings results on Thursday, November 5th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.15. The firm had revenue of $743.20 million during the quarter. Marex Group plc Ordinary Shares had a return on equity of 30.14% and a net margin of 17.88%. The firm’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 earnings per share. Research analysts forecast that Marex Group plc Ordinary Shares will post 6.14 EPS for the current fiscal year.

Insider Activity

In other news, insider Paolo Tonucci sold 16,666 shares of the 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 completion of the transaction, the insider directly owned 1,252,905 shares in the company, valued at approximately $90,246,747.15. This represents a 1.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.79% of the company’s stock.

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. Ibex Wealth Advisors bought a new position in Marex Group plc Ordinary Shares in the third quarter valued at about $8,616,000. Russell Investments Group Ltd. grew its holdings in shares of Marex Group plc Ordinary Shares by 0.5% during the third quarter. Russell Investments Group Ltd. now owns 348,719 shares of the company’s stock worth $24,327,000 after purchasing an additional 1,652 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Marex Group plc Ordinary Shares during the third quarter worth about $51,686,000. Commonwealth Equity Services LLC increased its stake in shares of Marex Group plc Ordinary Shares by 13.9% in the third quarter. Commonwealth Equity Services LLC now owns 5,919 shares of the company’s stock valued at $413,000 after buying an additional 724 shares during the period. Finally, Covestor Ltd increased its stake in shares of Marex Group plc Ordinary Shares by 4,046.7% in the third quarter. Covestor Ltd now owns 622 shares of the company’s stock valued at $43,000 after buying an additional 607 shares during the period.

Marex Group plc Ordinary Shares Company Profile

Marex Group plc is a diversified financial services platform that provides execution, clearing, market-making, hedging and other trading-related services to institutional clients, corporations, asset managers, hedge funds and professional traders. The company operates across a range of asset classes, including commodities, futures and options, foreign exchange, fixed income and equities.

Its businesses support clients throughout the trading lifecycle, from accessing markets and obtaining liquidity to clearing transactions and managing financial and commodity price risk.