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

Key Points

• Insider sale: Paolo Tonucci sold 16,666 Marex shares at an average price of $72.03, generating approximately $1.20 million. He retained 1,252,905 shares, worth about $90.25 million.
• Stock performance and fundamentals: MRX fell 3.6% to $69.38, while the company reported quarterly EPS of $1.64, exceeding estimates, and revenue growth of 39.1% year over year.
• Investor outlook: Marex pays a quarterly dividend of $0.16 per share, and analysts maintain a consensus “Buy” rating with an average price target of $83.38.

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

Marex Group plc Ordinary Shares Stock Down 3.6%

NASDAQ:MRX traded down $2.57 during mid-day trading on Wednesday, hitting $69.38. 778,625 shares of the stock traded hands, compared to its average volume of 864,067. The firm's 50-day moving average is $71.47. The company has a market cap of $5.06 billion, a P/E ratio of 12.46 and a beta of -0.02. Marex Group plc Ordinary Shares has a 12-month low of $29.82 and a 12-month high of $79.11. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.07 and a current ratio of 1.09.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported $1.64 earnings per share for the quarter, topping 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 period last year, the company posted $0.98 EPS. The business's revenue was up 39.1% on a year-over-year basis. Analysts anticipate that Marex Group plc Ordinary Shares will post 6.11 earnings per share for the current fiscal year.

Marex Group plc Ordinary Shares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were given a dividend of $0.16 per share. 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 11.49%.

Hedge Funds Weigh In On Marex Group plc Ordinary Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of MRX. Vestor Capital LLC purchased a new position in Marex Group plc Ordinary Shares in the first quarter worth $45,000. Fifth Third Bancorp increased its stake in 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 acquiring an additional 571 shares during the last quarter. Abel Hall LLC bought a new position in Marex Group plc Ordinary Shares in the first quarter valued at $214,000. Pale Fire Capital SE purchased a new stake in Marex Group plc Ordinary Shares during the first quarter valued at about $239,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in Marex Group plc Ordinary Shares during the second quarter valued at about $244,000.

Analyst Upgrades and Downgrades

MRX has been the topic of a number of recent analyst reports. Compass Point set a $80.00 price objective on Marex Group plc Ordinary Shares in a research report on Thursday, July 9th. William Blair started coverage on Marex Group plc Ordinary Shares in a research report on Wednesday. They set an "outperform" rating for the company. Weiss Ratings upgraded Marex Group plc Ordinary Shares from a "hold (c)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Piper Sandler upped their target price on Marex Group plc Ordinary Shares from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, October 2nd. Finally, Jefferies Financial Group raised their price target on 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. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $83.38.

Marex Group plc Ordinary Shares Company Profile

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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