Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock Has Average Price Target of $83.38 According to Brokerages

Shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) have been assigned an average recommendation of “Buy” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $83.75.

MRX has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on Marex Group plc Ordinary Shares from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 2nd. UBS Group boosted their target price on shares of Marex Group plc Ordinary Shares from $82.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, August 13th. William Blair initiated coverage on Marex Group plc Ordinary Shares in a research report on Wednesday, October 14th. They set an “outperform” rating for the company. Keefe, Bruyette & Woods lifted their target price on shares of Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings lowered shares of Marex Group plc Ordinary Shares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th.

Marex Group plc Ordinary Shares Price Performance

NASDAQ MRX opened at $66.18 on Monday. The company’s 50 day simple moving average is $71.30 and its 200 day simple moving average is $64.04. Marex Group plc Ordinary Shares has a 12 month low of $31.19 and a 12 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 capitalization of $4.83 billion, a PE ratio of 12.46 and a beta of 0.07.

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, beating the consensus estimate of $1.52 by $0.15. The business had revenue of $743.20 million during the quarter. Marex Group plc Ordinary Shares had a net margin of 17.43% and a return on equity of 27.94%. Marex Group plc Ordinary Shares’s quarterly revenue was up 53.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 earnings per share. As a group, equities research analysts forecast that Marex Group plc Ordinary Shares will post 6.11 EPS for the current fiscal year.

Insider Buying and Selling at Marex Group plc Ordinary Shares

In other Marex Group plc Ordinary Shares news, insider Paolo Tonucci sold 16,666 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 1,252,905 shares of the company’s stock, valued at approximately $90,246,747.15. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.79% of the company’s stock.

Institutional Trading of Marex Group plc Ordinary Shares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP raised its position 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 worth $102,583,000 after purchasing an additional 1,511,952 shares during the last quarter. Jennison Associates LLC grew its holdings in Marex Group plc Ordinary Shares by 8.9% during the first quarter. Jennison Associates LLC now owns 1,606,691 shares of the company’s stock valued at $71,626,000 after purchasing an additional 131,436 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Marex Group plc Ordinary Shares during the third quarter worth about $51,686,000. Russell Investments Group Ltd. boosted its stake in Marex Group plc Ordinary Shares by 0.5% in the third quarter. Russell Investments Group Ltd. now owns 348,719 shares of the company’s stock valued at $24,327,000 after buying an additional 1,652 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Marex Group plc Ordinary Shares by 11.2% during the 1st 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 in the last quarter.

About Marex Group plc Ordinary Shares

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.