Professional
Added to YB: 2026-04-06
Pitch date: 2026-04-02
MRX [neutral]
Marex Group plc
+22.95%
current return
Author Info
Night Watch Investment Management is an alternative asset manager focused on global equities, selected based on our in-depth proprietary research. Our investment style is best described as value plus catalyst. Visit their website.
Company Info
Marex Group plc, a financial services platform provider company, provides liquidity, market access, and infrastructure services to clients in the energy, commodities, and financial markets in the United Kingdom, the United States, and internationally.
Market Cap
$2.5B
Pitch Price
$44.53
Price Target
N/A
Dividend
1.71%
EV/EBITDA
N/A
P/E
9.07
EV/Sales
N/A
Sector
Capital Markets
Category
growth
Q1 2026 Investor Letter - Marex (MRX)
MRX (holding update): Largest position at 14.5%. Clears futures, benefits from market volatility. Grew earnings 7x in 5 yrs via defensible moat & mkt share gains in futures clearing (financial infrastructure). Trades 8-9x P/E vs peer StoneX 13-14x despite 30%+ earnings growth potential. Multi-bagger upside from growth + re-rating.
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