Wasatch Advisors LP increased its stake in shares of Marex Group plc Ordinary Shares (NASDAQ:MRX – Free Report) by 883.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,683,061 shares of the company’s stock after buying an additional 1,511,952 shares during the period. Wasatch Advisors LP owned about 2.31% of Marex Group plc Ordinary Shares worth $102,583,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Vestor Capital LLC purchased a new position in Marex Group plc Ordinary Shares in the first quarter valued at about $45,000. Fifth Third Bancorp increased its stake in shares of Marex Group plc Ordinary Shares by 89.5% during the 1st quarter. Fifth Third Bancorp now owns 1,209 shares of the company’s stock worth $54,000 after purchasing an additional 571 shares during the last quarter. Abel Hall LLC bought a new stake in shares of Marex Group plc Ordinary Shares in the 1st quarter worth approximately $214,000. Pale Fire Capital SE bought a new stake in shares of Marex Group plc Ordinary Shares in the 1st quarter worth approximately $239,000. Finally, Regal Partners Ltd purchased a new position in Marex Group plc Ordinary Shares in the first quarter valued at approximately $342,000.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on MRX shares. Compass Point set a $80.00 price objective on Marex Group plc Ordinary Shares in a report on Thursday, July 9th. Barclays boosted their target price on Marex Group plc Ordinary Shares from $60.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Zacks Research upgraded Marex Group plc Ordinary Shares from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Jefferies Financial Group lifted their price objective on Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 20th. 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 research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Marex Group plc Ordinary Shares has an average rating of “Buy” and a consensus target price of $75.14.
Marex Group plc Ordinary Shares Trading Down 1.0%
MRX opened at $59.93 on Wednesday. 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 $4.37 billion, a P/E ratio of 13.62 and a beta of -0.10. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.07 and a current ratio of 1.08. The business has a 50 day simple moving average of $63.14.
Insider Activity
In other Marex Group plc Ordinary Shares news, insider Thomas Texier sold 1,572 shares of the 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 owned 207,019 shares in the company, valued at $11,044,463.65. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
About Marex Group plc Ordinary Shares
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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