Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock: Insider Paolo Tonucci Sells 16,666 Shares

Marex Group plc Ordinary Shares (NASDAQ:MRX) insider Paolo Tonucci sold 16,666 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The shares were 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 owned 1,252,905 shares of the company’s stock, valued at $90,246,747.15. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Marex Group plc Ordinary Shares Stock Performance

NASDAQ MRX opened at $72.30 on Friday. 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 company has a market cap of $5.27 billion, a PE ratio of 13.32 and a beta of -0.02. The business’s 50 day simple moving average is $71.77. Marex Group plc Ordinary Shares has a 52-week low of $29.82 and a 52-week high of $79.11.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.28. The firm had revenue of $695.80 million for 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 39.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. On average, analysts predict that Marex Group plc Ordinary Shares will post 6.12 EPS for the current year.

Marex Group plc Ordinary Shares Announces Dividend

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

Institutional Investors Weigh In On Marex Group plc Ordinary Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its holdings in shares of Marex Group plc Ordinary Shares by 14.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 87,087 shares of the company’s stock valued at $5,308,000 after acquiring an additional 10,800 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Marex Group plc Ordinary Shares during the 2nd quarter worth approximately $244,000. Oakmont Investment Advisors Inc. acquired a new stake in shares of Marex Group plc Ordinary Shares in the 2nd quarter valued at approximately $497,000. Wasatch Advisors LP boosted its holdings in shares of Marex Group plc Ordinary Shares by 883.6% in the 2nd quarter. Wasatch Advisors LP now owns 1,683,061 shares of the company’s stock valued at $102,583,000 after buying an additional 1,511,952 shares during the last quarter. Finally, Handelsbanken Fonder AB bought a new position in shares of Marex Group plc Ordinary Shares in the second quarter valued at $1,048,000.

Analysts Set New Price Targets

Several equities research analysts recently commented on MRX shares. Keefe, Bruyette & Woods boosted their price objective 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. Barclays lifted their price target on Marex Group plc Ordinary Shares from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Jefferies Financial Group boosted their price target on 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. Piper Sandler boosted their price target on Marex Group plc Ordinary Shares from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Marex Group plc Ordinary Shares in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $83.38.

Marex Group plc Ordinary Shares Company Profile

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.