MarketAxess (NASDAQ:MKTX) Downgraded by StockNews.com

StockNews.com downgraded shares of MarketAxess (NASDAQ:MKTXFree Report) from a hold rating to a sell rating in a report released on Monday morning.

Other analysts also recently issued reports about the stock. Barclays reduced their price target on shares of MarketAxess from $236.00 to $225.00 and set an equal weight rating on the stock in a report on Wednesday, May 8th. UBS Group reduced their price target on shares of MarketAxess from $305.00 to $285.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Keefe, Bruyette & Woods reduced their price target on shares of MarketAxess from $235.00 to $230.00 and set a market perform rating on the stock in a report on Wednesday, May 8th. Piper Sandler reduced their price target on shares of MarketAxess from $230.00 to $225.00 and set a neutral rating on the stock in a report on Wednesday, July 3rd. Finally, Morgan Stanley boosted their target price on shares of MarketAxess from $278.00 to $279.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $248.64.

Check Out Our Latest Analysis on MKTX

MarketAxess Price Performance

Shares of MKTX stock opened at $206.94 on Monday. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 5.16 and a beta of 1.03. MarketAxess has a one year low of $192.42 and a one year high of $297.97. The company’s fifty day moving average price is $203.38 and its 200-day moving average price is $223.00.

MarketAxess (NASDAQ:MKTXGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.85 by $0.07. The firm had revenue of $210.30 million for the quarter, compared to the consensus estimate of $212.99 million. MarketAxess had a net margin of 33.83% and a return on equity of 20.82%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.96 EPS. Equities research analysts expect that MarketAxess will post 7.11 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were paid a dividend of $0.74 per share. The ex-dividend date was Tuesday, May 21st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.43%. MarketAxess’s dividend payout ratio is presently 43.47%.

Insider Buying and Selling

In related news, Director Stephen P. Casper sold 500 shares of MarketAxess stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $199.48, for a total transaction of $99,740.00. Following the completion of the transaction, the director now directly owns 10,201 shares of the company’s stock, valued at approximately $2,034,895.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MarketAxess

Several large investors have recently added to or reduced their stakes in the stock. Gladius Capital Management LP boosted its position in MarketAxess by 39.6% in the 3rd quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider’s stock valued at $29,000 after buying an additional 38 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in MarketAxess by 47.3% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 134 shares of the financial services provider’s stock valued at $39,000 after buying an additional 43 shares during the period. Alliance Wealth Advisors LLC UT boosted its position in MarketAxess by 2.2% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 2,198 shares of the financial services provider’s stock valued at $644,000 after buying an additional 48 shares during the period. Fifth Third Bancorp boosted its position in MarketAxess by 1.4% in the 4th quarter. Fifth Third Bancorp now owns 3,618 shares of the financial services provider’s stock valued at $1,060,000 after buying an additional 50 shares during the period. Finally, Yousif Capital Management LLC boosted its position in MarketAxess by 1.0% in the 1st quarter. Yousif Capital Management LLC now owns 5,137 shares of the financial services provider’s stock valued at $1,126,000 after buying an additional 52 shares during the period. 99.01% of the stock is owned by hedge funds and other institutional investors.

About MarketAxess

(Get Free Report)

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.

See Also

Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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