Y Intercept Hong Kong Ltd reduced its stake in shares of Marex Group plc Ordinary Shares (NASDAQ:MRX – Free Report) by 86.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,950 shares of the company’s stock after selling 38,399 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Marex Group plc Ordinary Shares were worth $265,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Keybank National Association OH grew its position in 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 valued at $395,000 after buying an additional 1,001 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Marex Group plc Ordinary Shares during the 1st quarter worth about $445,000. Wasatch Advisors LP lifted its stake in shares of Marex Group plc Ordinary Shares by 452.1% in the 1st quarter. Wasatch Advisors LP now owns 171,109 shares of the company’s stock worth $7,628,000 after acquiring an additional 140,117 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Marex Group plc Ordinary Shares by 1,217.4% in the 1st 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 period.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on MRX shares. Keefe, Bruyette & Woods raised their price objective on shares of Marex Group plc Ordinary Shares from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Zacks Research upgraded Marex Group plc Ordinary Shares from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. UBS Group increased their price target on Marex Group plc Ordinary Shares from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Piper Sandler lifted their price target on Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, TD Cowen boosted their price objective on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Marex Group plc Ordinary Shares presently has a consensus rating of “Buy” and an average price target of $74.33.
Insider Activity
In other news, insider Thomas Texier sold 1,572 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $53.35, for a total transaction of $83,866.20. Following the sale, the insider directly owned 207,019 shares of the company’s stock, valued at $11,044,463.65. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.79% of the stock is owned by insiders.
Marex Group plc Ordinary Shares Price Performance
NASDAQ MRX opened at $65.07 on Thursday. Marex Group plc Ordinary Shares has a 12 month low of $27.91 and a 12 month high of $71.18. The company has a market cap of $4.75 billion, a P/E ratio of 14.79 and a beta of -0.10. The stock has a 50 day simple moving average of $59.74. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.07.
Marex Group plc Ordinary Shares (NASDAQ:MRX – Get Free Report) last posted its quarterly 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 net margin of 15.45% and a return on equity of 28.43%. On average, analysts anticipate that Marex Group plc Ordinary Shares will post 5.35 earnings per share for the current year.
Marex Group plc Ordinary Shares Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Monday, May 18th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. Marex Group plc Ordinary Shares’s dividend payout ratio (DPR) is currently 14.55%.
Marex Group plc Ordinary Shares Company 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.
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