Glenmede Trust Co. NA Sells 22,348 Shares of Marex Group plc Ordinary Shares $MRX

Key Points

• Glenmede Trust reduced its Marex Group (MRX) stake by 6.8%, selling 22,348 shares and retaining 304,067 shares worth approximately $13.6 million, or 0.42% of the company.
• Analysts remain broadly bullish: MRX has a consensus “Buy” rating and an average price target of $75.14, with several firms recently raising targets to between $75 and $80.
• MRX was trading at $64.92, near its 52-week high of $71.18. Marex reported quarterly EPS of $1.48 on $692.3 million in revenue, with a 15.45% net margin and 28.43% return on equity.

Glenmede Trust Co. NA decreased its holdings in Marex Group plc Ordinary Shares (NASDAQ:MRX - Free Report) by 6.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 304,067 shares of the company's stock after selling 22,348 shares during the quarter. Glenmede Trust Co. NA owned 0.42% of Marex Group plc Ordinary Shares worth $13,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MRX. Vestor Capital LLC acquired a new position in shares of Marex Group plc Ordinary Shares during the 1st quarter worth approximately $45,000. Fifth Third Bancorp raised its position in shares of Marex Group plc Ordinary Shares by 89.5% in the first quarter. Fifth Third Bancorp now owns 1,209 shares of the company's stock valued at $54,000 after buying an additional 571 shares in the last quarter. Abel Hall LLC acquired a new stake in shares of Marex Group plc Ordinary Shares in the first quarter valued at approximately $214,000. Pale Fire Capital SE bought a new stake in shares of Marex Group plc Ordinary Shares in the first quarter valued at approximately $239,000. Finally, Regal Partners Ltd bought a new stake in shares of Marex Group plc Ordinary Shares in the first quarter valued at approximately $342,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays increased their price target on Marex Group plc Ordinary Shares from $60.00 to $76.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Compass Point set a $80.00 price objective on Marex Group plc Ordinary Shares in a report on Thursday, July 9th. Jefferies Financial Group upped their target price on 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. Zacks Research raised Marex Group plc Ordinary Shares from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 10th. Finally, TD Cowen raised their price target on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $75.14.

Insiders Place Their Bets

In other Marex Group plc Ordinary Shares news, insider Thomas Texier sold 1,572 shares of the business's stock in a transaction on Monday, June 1st. The shares were 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 of the company's stock, valued at approximately $11,044,463.65. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Marex Group plc Ordinary Shares Stock Performance

MRX opened at $64.92 on Monday. The firm has a 50 day moving average of $61.83. Marex Group plc Ordinary Shares has a 1-year low of $27.91 and a 1-year high of $71.18. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.76. The firm has a market cap of $4.74 billion, a P/E ratio of 14.75 and a beta of -0.10.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $1.48 earnings per share (EPS) for the quarter. The company 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, equities analysts forecast that Marex Group plc Ordinary Shares will post 5.56 EPS for the current year.

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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