BidaskClub upgraded shares of MarketAxess (NASDAQ:MKTX) from a hold rating to a buy rating in a research report released on Friday.
A number of other research analysts have also commented on MKTX. Zacks Investment Research raised shares of MarketAxess from a hold rating to a buy rating and set a $246.00 price objective for the company in a research report on Wednesday, December 5th. Buckingham Research started coverage on shares of MarketAxess in a research report on Thursday, January 10th. They issued a neutral rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $218.00.
Shares of MKTX traded down $1.82 during trading hours on Friday, reaching $238.34. 180,080 shares of the company traded hands, compared to its average volume of 270,671. The firm has a market capitalization of $9.05 billion, a P/E ratio of 52.15, a P/E/G ratio of 9.32 and a beta of 0.20. MarketAxess has a 1-year low of $172.09 and a 1-year high of $246.14.
MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.06. The business had revenue of $112.44 million during the quarter, compared to analyst estimates of $112.37 million. MarketAxess had a net margin of 39.69% and a return on equity of 30.31%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. Equities research analysts predict that MarketAxess will post 5.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 27th. Investors of record on Wednesday, February 13th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.86%. The ex-dividend date was Tuesday, February 12th. This is a positive change from MarketAxess’s previous quarterly dividend of $0.42. MarketAxess’s dividend payout ratio is 44.64%.
In related news, CFO Antonio L. Delise sold 8,000 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $231.99, for a total value of $1,855,920.00. Following the completion of the transaction, the chief financial officer now owns 36,901 shares of the company’s stock, valued at $8,560,662.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Steinhardt sold 3,187 shares of the stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $215.62, for a total transaction of $687,180.94. Following the completion of the transaction, the director now directly owns 24,899 shares of the company’s stock, valued at approximately $5,368,722.38. The disclosure for this sale can be found here. Insiders sold 31,187 shares of company stock valued at $6,961,901 in the last three months. Company insiders own 3.52% of the company’s stock.
A number of institutional investors have recently modified their holdings of MKTX. Norges Bank bought a new stake in MarketAxess during the fourth quarter worth about $84,529,000. Baillie Gifford & Co. grew its stake in MarketAxess by 9.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,018,282 shares of the financial services provider’s stock worth $849,103,000 after buying an additional 335,795 shares during the last quarter. Capital International Investors bought a new stake in MarketAxess during the third quarter worth about $39,268,000. Capital World Investors grew its stake in MarketAxess by 9.8% during the third quarter. Capital World Investors now owns 1,875,100 shares of the financial services provider’s stock worth $334,687,000 after buying an additional 167,500 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in MarketAxess by 39.9% during the fourth quarter. Eagle Asset Management Inc. now owns 383,256 shares of the financial services provider’s stock worth $80,985,000 after buying an additional 109,281 shares during the last quarter. 92.72% of the stock is currently owned by hedge funds and other institutional investors.
MarketAxess Company Profile
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.
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