Russell Investments Group Ltd. Boosts Stock Position in Marqeta, Inc. $MQ

by · The Cerbat Gem

Russell Investments Group Ltd. grew its position in Marqeta, Inc. (NASDAQ:MQ – Free Report) by 1,224.5% during the second quarter, Holdings Channel reports. The firm owned 1,897,823 shares of the company’s stock after acquiring an additional 1,754,539 shares during the period. Russell Investments Group Ltd.’s holdings in Marqeta were worth $11,064,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Alpine Global Management LLC acquired a new stake in shares of Marqeta during the first quarter worth about $42,000. Nisa Investment Advisors LLC raised its position in Marqeta by 61.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock worth $57,000 after buying an additional 3,737 shares during the last quarter. AQR Capital Management LLC purchased a new position in Marqeta during the 1st quarter worth approximately $57,000. Abel Hall LLC acquired a new stake in Marqeta during the 2nd quarter valued at approximately $61,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Marqeta in the 1st quarter valued at $62,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MQ has been the subject of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Marqeta from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Citigroup upgraded Marqeta to a “hold” rating in a research note on Thursday, October 23rd. Zacks Research cut Marqeta from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Keefe, Bruyette & Woods lowered their target price on Marqeta from $6.50 to $6.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Finally, The Goldman Sachs Group set a $5.00 target price on Marqeta and gave the stock a “sell” rating in a report on Monday, October 13th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $5.50.

Get Our Latest Analysis on MQ

Marqeta Stock Performance

Shares of Marqeta stock opened at $4.66 on Wednesday. The firm has a 50-day simple moving average of $4.83 and a two-hundred day simple moving average of $5.46. Marqeta, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $7.04. The company has a market cap of $2.05 billion, a P/E ratio of -58.25 and a beta of 1.48.

Marqeta (NASDAQ:MQ – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $163.31 million during the quarter, compared to analyst estimates of $148.37 million. Marqeta had a negative return on equity of 4.22% and a negative net margin of 6.74%.Marqeta’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) EPS. Equities research analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current year.

Marqeta Profile

(Free Report)

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.

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