MarketAxess Holdings Inc. (NASDAQ:MKTX) Receives Average Rating of “Hold” from Brokerages
Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) have received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $124.33.
Several research analysts have commented on MKTX shares. William Blair started coverage on MarketAxess Holdings in a research note on Monday, June 20th. They issued a “market perform” rating for the company. Citigroup Inc. downgraded MarketAxess Holdings to a “market perform” rating in a research note on Friday, July 15th. They noted that the move was a valuation call. Zacks Investment Research downgraded MarketAxess Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. Credit Suisse Group AG restated a “sell” rating and issued a $106.00 target price on shares of MarketAxess Holdings in a research note on Friday, July 29th. Finally, Raymond James Financial Inc. downgraded MarketAxess Holdings from an “outperform” rating to a “market perform” rating in a research note on Friday, July 15th.
MarketAxess Holdings (NASDAQ:MKTX) traded down 0.67% during mid-day trading on Monday, hitting $164.48. The stock had a trading volume of 143,964 shares. The firm has a market cap of $6.19 billion, a PE ratio of 56.72 and a beta of 0.65. MarketAxess Holdings has a 52 week low of $86.19 and a 52 week high of $178.21. The company’s 50 day moving average price is $168.56 and its 200 day moving average price is $145.52.
MarketAxess Holdings (NASDAQ:MKTX) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.03. The company earned $96.60 million during the quarter, compared to the consensus estimate of $93.98 million. MarketAxess Holdings had a return on equity of 27.14% and a net margin of 32.52%. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. Analysts anticipate that MarketAxess Holdings will post $3.23 earnings per share for the current year.
In other MarketAxess Holdings news, CEO Richard M. Mcvey sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $162.33, for a total value of $4,869,900.00. Following the sale, the chief executive officer now owns 1,091,457 shares of the company’s stock, valued at approximately $177,176,214.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Themelis sold 6,200 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $165.40, for a total value of $1,025,480.00. Following the completion of the sale, the insider now directly owns 70,799 shares in the company, valued at approximately $11,710,154.60. The disclosure for this sale can be found here. 4.51% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its position in shares of MarketAxess Holdings by 68.9% in the second quarter. Baillie Gifford & Co. now owns 2,753,102 shares of the company’s stock worth $400,302,000 after buying an additional 1,123,477 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of MarketAxess Holdings by 48.0% in the first quarter. Wellington Management Group LLP now owns 2,073,652 shares of the company’s stock worth $258,853,000 after buying an additional 672,157 shares in the last quarter. State Street Corp boosted its position in shares of MarketAxess Holdings by 2.8% in the first quarter. State Street Corp now owns 1,232,111 shares of the company’s stock worth $153,799,000 after buying an additional 33,815 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of MarketAxess Holdings by 1.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,109,950 shares of the company’s stock worth $161,387,000 after buying an additional 20,023 shares in the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of MarketAxess Holdings by 2.1% in the second quarter. Janus Capital Management LLC now owns 843,549 shares of the company’s stock worth $122,652,000 after buying an additional 17,699 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.
MarketAxess Holdings Company Profile
MarketAxess Holdings Inc (MarketAxess) is an electronic trading platform. The Company operates as an electronic multi-party platform for the trading of fixed-income securities and provides related data, analytics, compliance tools and post-trade services. The Company’s multi-dealer trading platform allows its institutional investor clients to request bids or offers from its broker-dealer clients and execute trades with the broker-dealer of their choice from among those that choose to respond.
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