Engle Capital Management L.P. Has $8.96 Million Stock Position in Marex Group plc Ordinary Shares $MRX

Engle Capital Management L.P. boosted its stake in shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 200,996 shares of the company’s stock after acquiring an additional 10,096 shares during the quarter. Marex Group plc Ordinary Shares makes up approximately 3.1% of Engle Capital Management L.P.’s holdings, making the stock its 14th biggest holding. Engle Capital Management L.P.’s holdings in Marex Group plc Ordinary Shares were worth $8,960,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in shares of Marex Group plc Ordinary Shares by 1,217.4% in the first quarter. SG Americas Securities LLC now owns 184,519 shares of the company’s stock worth $8,226,000 after acquiring an additional 170,513 shares during the last quarter. Walleye Capital LLC grew its stake in shares of Marex Group plc Ordinary Shares by 1,369.6% during the first quarter. Walleye Capital LLC now owns 159,830 shares of the company’s stock valued at $7,125,000 after purchasing an additional 148,954 shares during the last quarter. Swedbank AB increased its holdings in shares of Marex Group plc Ordinary Shares by 66.1% in the first quarter. Swedbank AB now owns 354,413 shares of the company’s stock valued at $15,800,000 after purchasing an additional 141,000 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Marex Group plc Ordinary Shares by 452.1% in the first quarter. Wasatch Advisors LP now owns 171,109 shares of the company’s stock valued at $7,628,000 after purchasing an additional 140,117 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Marex Group plc Ordinary Shares by 8.9% in 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 in the last quarter.

Insiders Place Their Bets

In related news, insider Thomas Texier sold 1,572 shares of Marex Group plc Ordinary Shares stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $53.35, for a total transaction of $83,866.20. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Marex Group plc Ordinary Shares Trading Down 1.5%

NASDAQ MRX opened at $64.60 on Tuesday. Marex Group plc Ordinary Shares has a 12 month low of $27.91 and a 12 month high of $71.18. The firm has a 50-day moving average of $61.00. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $4.71 billion, a P/E ratio of 14.68 and a beta of -0.10.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last issued its earnings results on Tuesday, March 31st. The company reported $1.48 earnings per share (EPS) for the quarter. The firm had revenue of $692.30 million for the quarter. Marex Group plc Ordinary Shares had a return on equity of 28.43% and a net margin of 15.45%. As a group, sell-side analysts predict that Marex Group plc Ordinary Shares will post 5.56 earnings per share for the current fiscal year.

Marex Group plc Ordinary Shares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Monday, May 18th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, May 18th. Marex Group plc Ordinary Shares’s dividend payout ratio (DPR) is currently 14.55%.

Analyst Ratings Changes

Several research firms have issued reports on MRX. UBS Group upped their price objective on Marex Group plc Ordinary Shares from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Barclays lifted their target price on Marex Group plc Ordinary Shares from $60.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. TD Cowen lifted their target price on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Weiss Ratings upgraded Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group upped their price target on 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $75.14.

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.