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

Marex Group plc Ordinary Shares (NASDAQ:MRX – Get Free Report) insider Paolo Tonucci sold 16,666 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 1,252,905 shares in the company, valued at approximately $90,246,747.15. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Marex Group plc Ordinary Shares Stock Performance

NASDAQ:MRX traded down $2.57 during mid-day trading on Wednesday, reaching $69.38. The stock had a trading volume of 778,625 shares, compared to its average volume of 864,067. The company has a 50 day moving average price of $71.47. The company has a market capitalization of $5.06 billion, a PE ratio of 12.46 and a beta of -0.02. Marex Group plc Ordinary Shares has a one year low of $29.82 and a one year high of $79.11. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 1.53.

Marex Group plc Ordinary Shares (NASDAQ:MRX – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $1.64 EPS for the quarter, beating 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 business had revenue of $695.80 million for the quarter. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm’s revenue was up 39.1% on a year-over-year basis. Research analysts forecast that Marex Group plc Ordinary Shares will post 6.11 earnings per share for the current year.

Marex Group plc Ordinary Shares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were issued a $0.16 dividend. 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 payout ratio is presently 11.49%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Jefferies Financial Group increased their target price 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. William Blair assumed coverage on shares of Marex Group plc Ordinary Shares in a research report on Wednesday. They set an “outperform” rating for the company. Keefe, Bruyette & Woods raised their price objective on Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded Marex Group plc Ordinary Shares from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, UBS Group lifted their price objective on Marex Group plc Ordinary Shares from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. One investment 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.com, the stock currently has an average rating of “Buy” and a consensus price target of $83.38.

Read Our Latest Stock Report on MRX

Institutional Trading of Marex Group plc Ordinary Shares

Institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP grew its holdings in shares of Marex Group plc Ordinary Shares by 883.6% in the second quarter. Wasatch Advisors LP now owns 1,683,061 shares of the company’s stock worth $102,583,000 after purchasing an additional 1,511,952 shares during the last quarter. SG Americas Securities LLC raised its holdings in Marex Group plc Ordinary Shares by 1,217.4% during the 1st quarter. SG Americas Securities LLC now owns 184,519 shares of the company’s stock valued at $8,226,000 after buying an additional 170,513 shares during the last quarter. Walleye Capital LLC raised its holdings in Marex Group plc Ordinary Shares by 1,369.6% during the 1st quarter. Walleye Capital LLC now owns 159,830 shares of the company’s stock valued at $7,125,000 after buying an additional 148,954 shares during the last quarter. Swedbank AB boosted its position in Marex Group plc Ordinary Shares by 66.1% during the 1st quarter. Swedbank AB now owns 354,413 shares of the company’s stock valued at $15,800,000 after buying an additional 141,000 shares during the period. Finally, Jennison Associates LLC boosted its position in Marex Group plc Ordinary Shares by 8.9% during the 1st quarter. Jennison Associates LLC now owns 1,606,691 shares of the company’s stock valued at $71,626,000 after buying an additional 131,436 shares during the period.

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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