Marex Group plc Ordinary Shares (NASDAQ:MRX) Given New $95.00 Price Target at Barclays

Marex Group plc Ordinary Shares (NASDAQ:MRX) had its price objective upped by Barclays from $92.00 to $95.00 in a research report report published on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on MRX. Weiss Ratings cut Marex Group plc Ordinary Shares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, October 26th. Compass Point set a $80.00 target price on Marex Group plc Ordinary Shares in a research report on Thursday, July 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $80.00 price target on shares of Marex Group plc Ordinary Shares in a report on Friday, August 14th. William Blair began coverage on Marex Group plc Ordinary Shares in a research report on Wednesday, October 14th. They set an “outperform” rating on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $83.75.

Marex Group plc Ordinary Shares Trading Up 1.9%

NASDAQ MRX traded up $1.22 during trading hours on Friday, reaching $66.18. The company had a trading volume of 962,919 shares, compared to its average volume of 655,333. 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 stock has a market capitalization of $4.83 billion, a P/E ratio of 10.85 and a beta of 0.07. The stock has a 50-day moving average of $71.30 and a 200 day moving average of $64.04. Marex Group plc Ordinary Shares has a 1-year low of $31.19 and a 1-year high of $79.11.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.52 by $0.15. The company 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%. The business’s quarterly revenue was up 53.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 EPS. As a group, research analysts anticipate that Marex Group plc Ordinary Shares will post 6.11 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paolo Tonucci sold 16,666 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $72.03, for a total value of $1,200,451.98. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP increased its position in 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 worth $102,583,000 after buying an additional 1,511,952 shares during the period. Jennison Associates LLC boosted its holdings in shares of 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 acquiring an additional 131,436 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Marex Group plc Ordinary Shares during the third quarter worth about $51,686,000. Russell Investments Group Ltd. grew its position in shares of Marex Group plc Ordinary Shares by 0.5% during the third quarter. Russell Investments Group Ltd. now owns 348,719 shares of the company’s stock worth $24,327,000 after acquiring an additional 1,652 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Marex Group plc Ordinary Shares by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 484,524 shares of the company’s stock worth $21,600,000 after acquiring an additional 48,752 shares during 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.