Key Points
- Insider sale: Marex Group insider Paolo Tonucci sold 16,666 shares for approximately $1.20 million at an average price of $72.03, reducing his stake by 1.31% while retaining 1.25 million shares.
- Strong quarterly performance: Marex reported quarterly earnings of $1.64 per share, beating estimates of $1.36, while revenue rose 39.1% year over year to $695.8 million.
- Analyst outlook remains positive: Analysts maintain a consensus “Buy” rating with an average price target of $83.38, compared with the stock’s reported price of $69.38.
Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) insider Paolo Tonucci sold 16,666 shares of the 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 completion of the transaction, the insider directly owned 1,252,905 shares in the company, valued at approximately $90,246,747.15. This trade represents a 1.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Marex Group plc Ordinary Shares Stock Down 3.6%
Shares of NASDAQ MRX opened at $69.38 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's fifty day moving average price is $71.57. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 13.81 and a beta of -0.02. Marex Group plc Ordinary Shares has a twelve month low of $29.82 and a twelve month high of $79.11.
Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported $1.64 earnings per share for the quarter, topping 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 last year, the company earned $0.98 earnings per share. The firm's revenue was up 39.1% compared to the same quarter last year. On average, research analysts expect that Marex Group plc Ordinary Shares will post 6.12 earnings per share for the current year.
Marex Group plc Ordinary Shares Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 24th. Marex Group plc Ordinary Shares's payout ratio is presently 11.49%.
Hedge Funds Weigh In On Marex Group plc Ordinary Shares
Several institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp increased its position in shares of Marex Group plc Ordinary Shares by 89.5% during the first quarter. Fifth Third Bancorp now owns 1,209 shares of the company's stock worth $54,000 after purchasing an additional 571 shares in the last quarter. Vestor Capital LLC purchased a new stake in shares of Marex Group plc Ordinary Shares during the 1st quarter valued at $45,000. Keybank National Association OH boosted its position in shares of Marex Group plc Ordinary Shares by 12.7% in the 1st quarter. Keybank National Association OH now owns 8,862 shares of the company's stock worth $395,000 after purchasing an additional 1,001 shares in the last quarter. Sei Investments Co. boosted its position in shares of Marex Group plc Ordinary Shares by 0.8% in the 1st quarter. Sei Investments Co. now owns 354,325 shares of the company's stock worth $15,796,000 after purchasing an additional 2,742 shares in the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of Marex Group plc Ordinary Shares in the 2nd quarter worth $244,000.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on MRX shares. William Blair assumed coverage on Marex Group plc Ordinary Shares in a research note on Wednesday. They issued an "outperform" rating on the stock. Weiss Ratings raised shares of Marex Group plc Ordinary Shares from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Jefferies Financial Group raised their price target on shares of Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the company a "buy" rating in a report on Monday, July 20th. Finally, Compass Point set a $80.00 price objective on shares of Marex Group plc Ordinary Shares in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $83.38.
Check Out Our Latest Report on Marex Group plc Ordinary Shares
Marex Group plc Ordinary Shares Company Profile
(
Get Free Report)
Marex Group plc is a diversified financial services company that provides liquidity, market access, execution, clearing, hedging and other trading-related services to institutional, corporate and professional clients. The company operates across a range of markets, including commodities, energy, metals, agriculture, foreign exchange, interest rates, equities and credit.
Its businesses include agency and principal trading, market making, brokerage, exchange-traded and over-the-counter clearing, and the distribution of financial products.
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