LM Advisors LLC Makes New $682,000 Investment in Marex Group plc Ordinary Shares $MRX

LM Advisors LLC purchased a new position in shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 14,913 shares of the company’s stock, valued at approximately $682,000.

Several other hedge funds also recently modified their holdings of the stock. Wasatch Advisors LP increased its position in shares of Marex Group plc Ordinary Shares by 883.6% in the second 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 boosted its position 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 last quarter. Allspring Global Investments Holdings LLC boosted its position in Marex Group plc Ordinary Shares by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 908,596 shares of the company’s stock valued at $39,115,000 after purchasing an additional 93,863 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Marex Group plc Ordinary Shares by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 484,524 shares of the company’s stock valued at $21,600,000 after purchasing an additional 48,752 shares in the last quarter. Finally, Bank of America Corp DE grew its stake 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 in the last quarter.

Insider Activity at Marex Group plc Ordinary Shares

In other news, insider Thomas Texier sold 1,572 shares of the company’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 transaction, the insider owned 207,019 shares of the company’s stock, valued at approximately $11,044,463.65. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MRX shares. Keefe, Bruyette & Woods boosted their price target on Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Barclays increased their price objective on Marex Group plc Ordinary Shares from $76.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Jefferies Financial Group raised their target price on shares of Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 20th. TD Cowen boosted their target price on shares of 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. Finally, Piper Sandler upped their price target on shares of Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $82.00.

Marex Group plc Ordinary Shares Stock Up 4.9%

Shares of NASDAQ MRX opened at $72.99 on Friday. The stock’s 50 day simple moving average is $65.17. The firm has a market capitalization of $5.32 billion, a P/E ratio of 13.10 and a beta of -0.10. The company has a current ratio of 1.09, a quick ratio of 1.07 and a debt-to-equity ratio of 1.53. Marex Group plc Ordinary Shares has a twelve month low of $27.91 and a twelve month high of $75.40.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last released its quarterly earnings data on Wednesday, August 12th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.28. Marex Group plc Ordinary Shares had a return on equity of 27.94% and a net margin of 17.43%.The company had revenue of $695.80 million during the quarter. During the same period in the previous year, the business earned $0.98 earnings per share. The business’s quarterly revenue was up 39.1% on a year-over-year basis. As a group, research analysts anticipate that Marex Group plc Ordinary Shares will post 5.84 EPS for the current fiscal year.

Marex Group plc Ordinary Shares Announces Dividend

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

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.