MarketAxess Holdings Inc. (MKTX) Receives New Coverage from Analysts at Credit Suisse Group AG
Credit Suisse Group AG began coverage on shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) in a report released on Monday. The firm set a “sell” rating on the stock.
Several other brokerages have also commented on MKTX. Zacks Investment Research upgraded MarketAxess Holdings from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a research report on Thursday, September 15th. Keefe, Bruyette & Woods lifted their target price on MarketAxess Holdings from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $153.75.
MarketAxess Holdings (NASDAQ:MKTX) traded down 0.121% on Monday, reaching $169.255. The company’s stock had a trading volume of 59,210 shares. MarketAxess Holdings has a 52-week low of $98.00 and a 52-week high of $178.21. The firm has a 50-day moving average price of $156.95 and a 200 day moving average price of $153.37. The firm has a market capitalization of $6.36 billion, a P/E ratio of 54.423 and a beta of 0.66.
MarketAxess Holdings (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The firm earned $90.30 million during the quarter, compared to analyst estimates of $90.51 million. MarketAxess Holdings had a return on equity of 27.83% and a net margin of 33.37%. MarketAxess Holdings’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. Equities analysts anticipate that MarketAxess Holdings will post $3.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 9th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Monday, November 7th. MarketAxess Holdings’s payout ratio is currently 33.33%.
In other MarketAxess Holdings news, insider Nicholas Themelis sold 6,200 shares of MarketAxess Holdings stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $165.40, for a total transaction of $1,025,480.00. Following the sale, the insider now owns 70,799 shares of the company’s stock, valued at approximately $11,710,154.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.51% of the company’s stock.
A number of hedge funds have recently made changes to their positions in MKTX. I.G. Investment Management LTD. increased its stake in shares of MarketAxess Holdings by 1.7% in the second quarter. I.G. Investment Management LTD. now owns 5,941 shares of the company’s stock valued at $864,000 after buying an additional 98 shares during the last quarter. State Treasurer State of Michigan increased its stake in shares of MarketAxess Holdings by 0.7% in the second quarter. State Treasurer State of Michigan now owns 15,100 shares of the company’s stock valued at $2,196,000 after buying an additional 100 shares during the last quarter. Advantus Capital Management Inc increased its stake in shares of MarketAxess Holdings by 2.2% in the third quarter. Advantus Capital Management Inc now owns 4,649 shares of the company’s stock valued at $770,000 after buying an additional 100 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of MarketAxess Holdings by 3.0% in the third quarter. Pacer Advisors Inc. now owns 3,976 shares of the company’s stock valued at $658,000 after buying an additional 116 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MarketAxess Holdings by 13.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,223 shares of the company’s stock valued at $203,000 after buying an additional 147 shares during the last quarter. 91.94% 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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