MarketAxess (NASDAQ:MKTX) Hits New 12-Month Low at $420.01

MarketAxess Holdings Inc. (NASDAQ:MKTX) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $420.01 and last traded at $425.65, with a volume of 213334 shares changing hands. The stock had previously closed at $421.81.

A number of research analysts have weighed in on MKTX shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of MarketAxess from $430.00 to $427.00 and set a “hold” rating for the company in a report on Thursday, July 22nd. Morgan Stanley cut their price objective on shares of MarketAxess from $470.00 to $459.00 and set an “equal weight” rating for the company in a report on Wednesday, September 15th. Rosenblatt Securities cut their price objective on shares of MarketAxess from $625.00 to $569.00 and set a “buy” rating for the company in a report on Thursday, June 3rd. Piper Sandler cut their price objective on shares of MarketAxess from $483.00 to $475.00 and set a “neutral” rating for the company in a report on Wednesday, July 7th. Finally, Raymond James cut their price objective on shares of MarketAxess from $580.00 to $530.00 and set an “outperform” rating for the company in a report on Wednesday, July 7th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $532.00.

The company has a market cap of $16.17 billion, a PE ratio of 56.04 and a beta of 0.36. The firm’s 50 day moving average is $463.92 and its 200-day moving average is $475.88.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Tuesday, July 20th. The financial services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.08. MarketAxess had a net margin of 40.79% and a return on equity of 29.87%. The company had revenue of $176.30 million during the quarter, compared to analysts’ expectations of $177.56 million. During the same quarter in the prior year, the company earned $2.20 EPS. MarketAxess’s revenue was down 4.6% compared to the same quarter last year. On average, sell-side analysts expect that MarketAxess Holdings Inc. will post 7.36 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 18th. Shareholders of record on Wednesday, August 4th were issued a $0.66 dividend. The ex-dividend date of this dividend was Tuesday, August 3rd. This represents a $2.64 annualized dividend and a yield of 0.62%. MarketAxess’s payout ratio is 33.63%.

In other news, CEO Richard M. Mcvey sold 12,117 shares of the company’s stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $484.74, for a total value of $5,873,594.58. Following the transaction, the chief executive officer now directly owns 772,739 shares in the company, valued at approximately $374,577,502.86. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Scott Pintoff sold 250 shares of the company’s stock in a transaction that occurred on Monday, August 9th. The stock was sold at an average price of $487.05, for a total transaction of $121,762.50. Following the completion of the transaction, the general counsel now owns 5,973 shares in the company, valued at $2,909,149.65. The disclosure for this sale can be found here. Insiders sold a total of 17,902 shares of company stock worth $8,631,608 over the last quarter. 2.19% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the company. E Fund Management Co. Ltd. acquired a new stake in MarketAxess during the 1st quarter worth approximately $33,000. Lloyd Advisory Services LLC. lifted its holdings in MarketAxess by 50.0% during the 2nd quarter. Lloyd Advisory Services LLC. now owns 72 shares of the financial services provider’s stock worth $33,000 after buying an additional 24 shares in the last quarter. CSat Investment Advisory L.P. lifted its holdings in MarketAxess by 56.9% during the 1st quarter. CSat Investment Advisory L.P. now owns 80 shares of the financial services provider’s stock worth $40,000 after buying an additional 29 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in MarketAxess by 37.5% during the 2nd quarter. Penserra Capital Management LLC now owns 121 shares of the financial services provider’s stock worth $56,000 after buying an additional 33 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in MarketAxess during the 1st quarter worth approximately $71,000. Hedge funds and other institutional investors own 94.39% of the company’s stock.

MarketAxess Company Profile (NASDAQ:MKTX)

MarketAxess Holdings, Inc operates as an electronic trading platform that allows investment industry professionals to trade corporate bonds and other types of fixed-income instruments. It also provides data and analytical tools that help its clients to make trading decisions and facilitate the trading process by electronically communicating order information between trading counterparties.

Read More: Key terms to understand channel trading

Receive News & Ratings for MarketAxess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MarketAxess and related companies with MarketBeat.com's FREE daily email newsletter.