Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock Rating Upgraded by Zacks Research

Marex Group plc Ordinary Shares (NASDAQ:MRX) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts also recently weighed in on the company. UBS Group boosted their target price on Marex Group plc Ordinary Shares from $56.00 to $60.00 and gave the stock a “buy” rating in a research report 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 report on Wednesday, May 27th. Barclays boosted their target price on Marex Group plc Ordinary Shares from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. TD Cowen boosted their target price on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods assumed coverage on Marex Group plc Ordinary Shares in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $60.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $63.75.

Marex Group plc Ordinary Shares Trading Up 2.3%

Shares of MRX opened at $63.35 on Wednesday. The company has a market cap of $4.62 billion, a P/E ratio of 14.40 and a beta of -0.01. 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’s 50-day simple moving average is $53.85. Marex Group plc Ordinary Shares has a 12-month low of $27.91 and a 12-month high of $63.71.

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

Insiders Place Their Bets

In other Marex Group plc Ordinary Shares news, insider Thomas Texier sold 1,572 shares of the business’s stock in a transaction that occurred 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 owned 207,019 shares in the company, valued at approximately $11,044,463.65. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.79% of the company’s stock.

Institutional Trading of Marex Group plc Ordinary Shares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vestor Capital LLC bought a new stake in Marex Group plc Ordinary Shares in the first quarter valued at approximately $45,000. Bank of America Corp DE lifted its position in Marex Group plc Ordinary Shares by 34.3% in the first quarter. Bank of America Corp DE now owns 385,026 shares of the company’s stock valued at $17,164,000 after purchasing an additional 98,334 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Marex Group plc Ordinary Shares in the first quarter valued at approximately $1,758,000. Regal Partners Ltd bought a new stake in Marex Group plc Ordinary Shares in the first quarter valued at approximately $342,000. Finally, Engle Capital Management L.P. lifted its position in Marex Group plc Ordinary Shares by 5.3% in the first quarter. Engle Capital Management L.P. now owns 200,996 shares of the company’s stock valued at $8,960,000 after purchasing an additional 10,096 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.