Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock Now Rated “Buy” by Sell-Side Analysts

Marex Group plc Ordinary Shares (NASDAQ:MRX) has been given a consensus recommendation of “Buy” by the ten analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $83.75.

A number of brokerages recently commented on MRX. Weiss Ratings lowered Marex Group plc Ordinary Shares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. The Goldman Sachs Group reissued a “buy” rating and set a $80.00 price objective on shares of Marex Group plc Ordinary Shares in a research report on Friday, August 14th. William Blair began coverage on shares of Marex Group plc Ordinary Shares in a report on Wednesday, October 14th. They issued an “outperform” rating for the company. Keefe, Bruyette & Woods raised their target price on shares of 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. Finally, Piper Sandler lifted their target price on shares of Marex Group plc Ordinary Shares from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 2nd.

Insider Buying and Selling

In other Marex Group plc Ordinary Shares news, insider Paolo Tonucci sold 16,666 shares of the company’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $72.03, for a total transaction of $1,200,451.98. Following the transaction, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP increased its position 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 buying an additional 1,511,952 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Marex Group plc Ordinary Shares in the third quarter worth $51,686,000. Walleye Capital LLC boosted its holdings in 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 acquiring an additional 148,954 shares in the last quarter. Swedbank AB boosted its holdings in Marex Group plc Ordinary Shares by 66.1% in the first quarter. Swedbank AB now owns 354,413 shares of the company’s stock worth $15,800,000 after acquiring an additional 141,000 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in 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 acquiring an additional 131,436 shares in the last quarter.

Marex Group plc Ordinary Shares Stock Performance

NASDAQ MRX opened at $66.18 on Monday. Marex Group plc Ordinary Shares has a fifty-two week low of $31.19 and a fifty-two week high of $79.11. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.07 and a current ratio of 1.08. The stock has a 50 day simple moving average of $71.30 and a two-hundred day simple moving average of $64.04. The stock has a market cap of $4.83 billion, a P/E ratio of 10.85 and a beta of 0.07.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last issued its quarterly earnings data on Thursday, November 5th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.15. The firm had revenue of $743.20 million for the quarter. Marex Group plc Ordinary Shares had a return on equity of 27.93% and a net margin of 17.88%. Marex Group plc Ordinary Shares’s quarterly revenue was up 53.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. On average, analysts forecast that Marex Group plc Ordinary Shares will post 6.14 earnings per share for the current year.

Marex Group plc Ordinary Shares Company Profile

Marex Group plc is a global financial services company that provides market access, liquidity and related services to businesses and institutions. Its clients include producers and consumers of commodities, financial institutions and other market participants.

The company’s services include clearing and execution for exchange-traded and over-the-counter markets, agency execution, and market making. Marex also offers hedging solutions and investment products, with activity across markets such as energy, metals, agriculture, foreign exchange and fixed income.

Founded in 2005 and headquartered in London, Marex serves clients through an international network of offices.