Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock Price Expected to Rise, Barclays Analyst Says

Marex Group plc Ordinary Shares (NASDAQ:MRX) had its price objective upped by investment analysts at Barclays from $92.00 to $95.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 39.44% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group raised 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 report on Monday, July 20th. 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 target on Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $80.00 price objective on shares of Marex Group plc Ordinary Shares in a research note on Friday, August 14th. Finally, UBS Group increased their price objective on Marex Group plc Ordinary Shares from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Marex Group plc Ordinary Shares currently has a consensus rating of “Buy” and an average price target of $83.75.

Marex Group plc Ordinary Shares Trading Up 4.9%

Marex Group plc Ordinary Shares stock traded up $3.17 during midday trading on Friday, reaching $68.13. The stock had a trading volume of 139,395 shares, compared to its average volume of 849,634. The firm’s fifty day simple moving average is $71.40 and its two-hundred day simple moving average is $64.02. Marex Group plc Ordinary Shares has a twelve month low of $31.19 and a twelve month high of $79.11. 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 market cap of $4.97 billion, a price-to-earnings ratio of 12.23 and a beta of 0.07.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last posted its quarterly earnings data 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. Marex Group plc Ordinary Shares had a net margin of 17.43% and a return on equity of 27.94%. The firm had revenue of $743.20 million for the quarter. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company’s revenue for the quarter was up 53.4% on a year-over-year basis. Equities analysts anticipate that Marex Group plc Ordinary Shares will post 6.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Marex Group plc Ordinary Shares news, insider Paolo Tonucci sold 16,666 shares of the firm’s stock in a transaction dated 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 directly owned 1,252,905 shares in the company, valued at $90,246,747.15. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.79% of the stock is owned by insiders.

Institutional Trading of Marex Group plc Ordinary Shares

Several large investors have recently made changes to their positions in the stock. Wasatch Advisors LP increased its holdings in shares of 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 acquiring an additional 1,511,952 shares during the last quarter. Jennison Associates LLC lifted its holdings in Marex Group plc Ordinary Shares by 8.9% in the 1st 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 last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Marex Group plc Ordinary Shares by 11.5% in the 1st 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 last quarter. Bank of New York Mellon Corp boosted its position in Marex Group plc Ordinary Shares by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 484,524 shares of the company’s stock worth $21,600,000 after purchasing an additional 48,752 shares during the period. Finally, Bank of America Corp DE boosted its position in Marex Group plc Ordinary Shares by 34.3% during the first 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 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.