Marex Group plc Ordinary Shares (NASDAQ:MRX) Receives Average Rating of “Buy” from Brokerages

Marex Group plc Ordinary Shares (NASDAQ:MRX) has been given a consensus rating of “Buy” by the six research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $63.75.

MRX has been the subject of several research analyst reports. UBS Group upped their price objective on Marex Group plc Ordinary Shares from $56.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Zacks Research upgraded Marex Group plc Ordinary Shares from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 10th. Weiss Ratings upgraded Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Barclays lifted their target price on Marex Group plc Ordinary Shares from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, TD Cowen lifted their target price on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, June 8th.

Marex Group plc Ordinary Shares Stock Down 8.2%

Shares of Marex Group plc Ordinary Shares stock opened at $58.94 on Tuesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.07 and a current ratio of 1.08. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 13.40 and a beta of -0.01. The company has a fifty day moving average price of $56.53. Marex Group plc Ordinary Shares has a fifty-two week low of $27.91 and a fifty-two week high of $67.35.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $1.48 earnings per share for the quarter. The business 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%. Analysts anticipate that Marex Group plc Ordinary Shares will post 5.35 earnings per share for the current fiscal year.

Marex Group plc Ordinary Shares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Monday, May 18th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, May 18th. Marex Group plc Ordinary Shares’s payout ratio is presently 14.55%.

Insider Activity

In related news, insider Thomas Texier sold 1,572 shares of Marex Group plc Ordinary Shares stock in a transaction 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 transaction, the insider directly owned 207,019 shares in the company, valued at $11,044,463.65. The trade was a 0.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Hedge Funds Weigh In On Marex Group plc Ordinary Shares

A number of hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp grew its holdings in shares of Marex Group plc Ordinary Shares by 89.5% in the 1st quarter. Fifth Third Bancorp now owns 1,209 shares of the company’s stock worth $54,000 after acquiring an additional 571 shares during the last quarter. Vestor Capital LLC acquired a new stake in shares of Marex Group plc Ordinary Shares in the first quarter worth $45,000. Keybank National Association OH boosted its position in shares of Marex Group plc Ordinary Shares by 12.7% in the first quarter. Keybank National Association OH now owns 8,862 shares of the company’s stock worth $395,000 after buying an additional 1,001 shares during the period. Sei Investments Co. boosted its position in shares of Marex Group plc Ordinary Shares by 0.8% in the first quarter. Sei Investments Co. now owns 354,325 shares of the company’s stock worth $15,796,000 after buying an additional 2,742 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Marex Group plc Ordinary Shares by 12.5% in the first quarter. Public Employees Retirement System of Ohio now owns 42,970 shares of the company’s stock worth $1,916,000 after buying an additional 4,766 shares during the period.

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.