Marex Group plc Ordinary Shares $MRX is Granahan Investment Management LLC’s 8th Largest Position

Granahan Investment Management LLC cut its stake in shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) by 11.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,223,750 shares of the company’s stock after selling 153,243 shares during the quarter. Marex Group plc Ordinary Shares accounts for about 2.6% of Granahan Investment Management LLC’s investment portfolio, making the stock its 8th biggest holding. Granahan Investment Management LLC’s holdings in Marex Group plc Ordinary Shares were worth $54,555,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Jennison Associates LLC raised its stake in Marex Group plc Ordinary Shares by 8.9% in the 1st quarter. Jennison Associates LLC now owns 1,606,691 shares of the company’s stock worth $71,626,000 after acquiring an additional 131,436 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Marex Group plc Ordinary Shares by 11.5% during the 1st 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 increased its holdings in shares of 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 during the period. 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 during the period. Finally, Sei Investments Co. raised its stake in shares of Marex Group plc Ordinary Shares by 0.8% in the first 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 during the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on MRX. Jefferies Financial Group increased their price target on shares of Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the stock a “buy” rating in a report on Monday. Barclays increased their price objective on shares of Marex Group plc Ordinary Shares from $60.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Piper Sandler increased their price target on 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. Finally, TD Cowen boosted their price objective on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the company a “buy” rating in a report on Monday, June 8th. One 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’s stock. According to MarketBeat.com, Marex Group plc Ordinary Shares has an average rating of “Buy” and a consensus target price of $75.14.

Insider Transactions at Marex Group plc Ordinary Shares

In related news, insider Thomas Texier sold 1,572 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $53.35, for a total value of $83,866.20. Following the completion of the sale, the insider owned 207,019 shares of the company’s stock, valued at approximately $11,044,463.65. The trade was a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.79% of the company’s stock.

Marex Group plc Ordinary Shares Stock Performance

Shares of NASDAQ MRX opened at $65.56 on Friday. The stock has a market capitalization of $4.78 billion, a P/E ratio of 14.90 and a beta of -0.10. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.07. The business’s fifty day moving average price is $60.84. Marex Group plc Ordinary Shares has a 1 year low of $27.91 and a 1 year high of $71.18.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $1.48 earnings per share for the quarter. Marex Group plc Ordinary Shares had a net margin of 15.45% and a return on equity of 28.43%. The business had revenue of $692.30 million during the quarter. On average, equities analysts expect that Marex Group plc Ordinary Shares will post 5.56 EPS for the current year.

Marex Group plc Ordinary Shares Announces Dividend

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

Marex Group plc Ordinary Shares Profile

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.