Royce & Associates LP Sells 230,221 Shares of Marex Group plc Ordinary Shares $MRX

Royce & Associates LP lowered its position in Marex Group plc Ordinary Shares (NASDAQ:MRX) by 20.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 881,118 shares of the company’s stock after selling 230,221 shares during the quarter. Marex Group plc Ordinary Shares makes up about 0.6% of Royce & Associates LP’s portfolio, making the stock its 22nd biggest position. Royce & Associates LP owned approximately 1.21% of Marex Group plc Ordinary Shares worth $61,467,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MRX. Wasatch Advisors LP raised its position in Marex Group plc Ordinary Shares by 883.6% during the 2nd quarter. Wasatch Advisors LP now owns 1,683,061 shares of the company’s stock valued at $102,583,000 after purchasing an additional 1,511,952 shares in the last quarter. Jennison Associates LLC grew its position in shares of 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 worth $71,626,000 after buying an additional 131,436 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Marex Group plc Ordinary Shares during the 3rd quarter worth $51,686,000. Russell Investments Group Ltd. grew its position in shares of Marex Group plc Ordinary Shares by 0.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 348,719 shares of the company’s stock worth $24,327,000 after buying an additional 1,652 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Marex Group plc Ordinary Shares by 11.2% during 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 buying an additional 48,752 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MRX. Keefe, Bruyette & Woods lifted their price objective on Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. William Blair started coverage on shares of Marex Group plc Ordinary Shares in a research note on Wednesday, October 14th. They issued an “outperform” rating for the company. Piper Sandler increased their target price on shares of Marex Group plc Ordinary Shares from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $80.00 target price on shares of Marex Group plc Ordinary Shares in a research report on Friday, August 14th. Finally, Jefferies Financial Group raised 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 research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $83.75.

Insiders Place Their Bets

In related news, insider Paolo Tonucci sold 16,666 shares of the firm’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $72.03, for a total transaction of $1,200,451.98. Following the sale, the insider owned 1,252,905 shares of the company’s stock, valued at $90,246,747.15. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.79% of the stock is currently owned by insiders.

Marex Group plc Ordinary Shares Stock Down 1.3%

Marex Group plc Ordinary Shares stock traded down $0.96 during mid-day trading on Friday, reaching $70.72. 312,426 shares of the company were exchanged, compared to its average volume of 750,942. The business has a fifty day moving average of $71.06 and a 200 day moving average of $64.26. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.07 and a current ratio of 1.08. The firm has a market cap of $5.16 billion, a P/E ratio of 11.59 and a beta of 0.07. Marex Group plc Ordinary Shares has a 12-month low of $31.19 and a 12-month high of $79.11.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last announced its quarterly earnings results on Thursday, November 5th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.15. Marex Group plc Ordinary Shares had a return on equity of 27.93% and a net margin of 17.88%. The business had revenue of $743.20 million for the quarter. During the same quarter in the prior year, the business posted $0.96 earnings per share. The company’s revenue was up 53.4% compared to the same quarter last year. Research analysts anticipate that Marex Group plc Ordinary Shares will post 6.16 earnings per share for the current fiscal year.

Marex Group plc Ordinary Shares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Monday, November 16th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. Marex Group plc Ordinary Shares’s dividend payout ratio (DPR) is presently 10.49%.

Marex Group plc Ordinary Shares Profile

Marex Group plc is a global financial services company that provides market access, liquidity and related services to businesses and institutions. Its clients include producers and consumers of commodities, financial institutions and other market participants. The company’s services include clearing and execution for exchange-traded and over-the-counter markets, agency execution, and market making. Marex also offers hedging solutions and investment products, with activity across markets such as energy, metals, agriculture, foreign exchange and fixed income.