Marex Group plc Ordinary Shares (NASDAQ:MRX) Price Target Raised to $90.00

Marex Group plc Ordinary Shares (NASDAQ:MRX) had its target price boosted by Keefe, Bruyette & Woods from $80.00 to $90.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also weighed in on MRX. Weiss Ratings raised Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Zacks Research raised Marex Group plc Ordinary Shares from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. TD Cowen upped their price target on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Barclays raised their price objective on Marex Group plc Ordinary Shares from $76.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Piper Sandler lifted their price objective on Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $82.00.

Marex Group plc Ordinary Shares Trading Down 1.8%

Shares of NASDAQ:MRX opened at $71.06 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.07 and a debt-to-equity ratio of 1.53. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 12.76 and a beta of -0.10. The stock has a 50-day simple moving average of $64.16. Marex Group plc Ordinary Shares has a 12-month low of $27.91 and a 12-month high of $75.40.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.28. Marex Group plc Ordinary Shares had a net margin of 17.43% and a return on equity of 27.94%. The company had revenue of $695.80 million during the quarter. During the same period in the prior year, the company earned $0.98 EPS. The company’s revenue was up 39.1% compared to the same quarter last year. As a group, research analysts forecast that Marex Group plc Ordinary Shares will post 5.8 earnings per share for the current fiscal year.

Marex Group plc Ordinary Shares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 24th. Marex Group plc Ordinary Shares’s dividend payout ratio is currently 11.49%.

Insider Transactions at Marex Group plc Ordinary Shares

In other Marex Group plc Ordinary Shares news, insider Thomas Texier sold 1,572 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were 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 of the company’s stock, valued at $11,044,463.65. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vestor Capital LLC acquired a new stake in Marex Group plc Ordinary Shares during the 1st quarter valued at $45,000. Fifth Third Bancorp lifted its holdings in 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 buying an additional 571 shares in the last quarter. Abel Hall LLC acquired a new position in Marex Group plc Ordinary Shares in the 1st quarter worth $214,000. Pale Fire Capital SE purchased a new position in Marex Group plc Ordinary Shares in the 1st quarter valued at about $239,000. Finally, Regal Partners Ltd purchased a new position in Marex Group plc Ordinary Shares in the 1st quarter valued at about $342,000.

Marex Group plc Ordinary Shares Company Profile

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.