Barclays Issues Positive Forecast for Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock Price

Key Points

• Barclays raised its price target on Marex Group from $60 to $76 and kept an overweight rating, implying about 9.83% upside from the prior close.
• Sentiment on MRX is broadly positive: several analysts recently lifted ratings or targets, and MarketBeat shows a consensus Buy with a $67.75 average target price.
• The stock has been strong recently, opening at $69.20 after a 3% move, while the company’s latest quarterly results showed $1.48 EPS on $692.3 million in revenue.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) had its price target upped by analysts at Barclays from $60.00 to $76.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price target would suggest a potential upside of 9.83% from the stock's previous close.

Other research analysts also recently issued research reports about the company. 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. Keefe, Bruyette & Woods assumed coverage on Marex Group plc Ordinary Shares in a research note on Wednesday, April 8th. They set an "outperform" rating and a $60.00 price target for the company. Weiss Ratings raised Marex Group plc Ordinary Shares from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, May 27th. UBS Group boosted 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. Finally, TD Cowen raised their price objective on shares of Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $67.75.

Marex Group plc Ordinary Shares Stock Up 3.0%

MRX stock opened at $69.20 on Thursday. The business has a 50 day moving average of $58.37. The stock has a market cap of $5.05 billion, a P/E ratio of 15.73 and a beta of -0.10. Marex Group plc Ordinary Shares has a 12-month low of $27.91 and a 12-month high of $69.82. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.76.

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 EPS 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 for the quarter. On average, research analysts anticipate that Marex Group plc Ordinary Shares will post 5.35 EPS for the current year.

Insider Buying and Selling at Marex Group plc Ordinary Shares

In other news, insider Thomas Texier sold 1,572 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $53.35, for a total transaction of $83,866.20. Following the completion of the sale, the insider owned 207,019 shares in the company, valued at approximately $11,044,463.65. This represents a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC boosted its position in Marex Group plc Ordinary Shares by 8.9% during the first quarter. Jennison Associates LLC now owns 1,606,691 shares of the company's stock worth $71,626,000 after purchasing an additional 131,436 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Marex Group plc Ordinary Shares by 11.5% in the first 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 period. Bank of New York Mellon Corp lifted its stake 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 worth $21,600,000 after buying an additional 48,752 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Marex Group plc Ordinary Shares by 34.3% in the first quarter. Bank of America Corp DE now owns 385,026 shares of the company's stock worth $17,164,000 after buying an additional 98,334 shares during the last quarter. Finally, Swedbank AB boosted its holdings in shares of Marex Group plc Ordinary Shares by 66.1% during the 1st quarter. Swedbank AB now owns 354,413 shares of the company's stock worth $15,800,000 after buying an additional 141,000 shares during the period.

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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