MarketAxess Holdings Inc. (NASDAQ:MKTX) Receives Consensus Rating of “Hold” from Analysts

MarketAxess Holdings Inc. (NASDAQ:MKTX) has received a consensus rating of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $403.00.

Several brokerages recently issued reports on MKTX. Piper Sandler raised their target price on shares of MarketAxess from $520.00 to $535.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Rosenblatt Securities raised their target price on shares of MarketAxess from $455.00 to $465.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. BidaskClub cut shares of MarketAxess from a “buy” rating to a “hold” rating in a report on Tuesday, July 21st. Credit Suisse Group raised their target price on shares of MarketAxess from $410.00 to $448.00 and gave the stock a “neutral” rating in a report on Tuesday, June 9th. Finally, Deutsche Bank raised their target price on shares of MarketAxess from $535.00 to $555.00 and gave the stock a “hold” rating in a report on Thursday, July 9th.

In other news, CEO Richard M. Mcvey sold 25,000 shares of MarketAxess stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $483.62, for a total value of $12,090,500.00. Following the sale, the chief executive officer now owns 952,077 shares in the company, valued at $460,443,478.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christophe Pierre Danie Roupie sold 1,920 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $457.00, for a total transaction of $877,440.00. Following the transaction, the insider now owns 10,914 shares in the company, valued at $4,987,698. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,170 shares of company stock worth $14,047,103. Company insiders own 3.05% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of MKTX. Norges Bank acquired a new position in MarketAxess during the fourth quarter worth about $159,554,000. JPMorgan Chase & Co. boosted its position in MarketAxess by 21.2% during the first quarter. JPMorgan Chase & Co. now owns 1,559,329 shares of the financial services provider’s stock worth $518,585,000 after acquiring an additional 272,647 shares during the last quarter. Wells Fargo & Company MN boosted its position in MarketAxess by 19.8% during the first quarter. Wells Fargo & Company MN now owns 938,243 shares of the financial services provider’s stock worth $312,031,000 after acquiring an additional 154,850 shares during the last quarter. Banco Santander S.A. boosted its position in MarketAxess by 213.9% during the first quarter. Banco Santander S.A. now owns 166,001 shares of the financial services provider’s stock worth $55,207,000 after acquiring an additional 113,114 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in MarketAxess by 270.3% during the first quarter. The Manufacturers Life Insurance Company now owns 136,122 shares of the financial services provider’s stock worth $45,271,000 after acquiring an additional 99,363 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Shares of NASDAQ MKTX traded up $0.15 during midday trading on Tuesday, reaching $516.70. The company had a trading volume of 119,102 shares, compared to its average volume of 201,006. The business’s 50-day simple moving average is $514.01 and its 200 day simple moving average is $426.10. The stock has a market cap of $19.62 billion, a P/E ratio of 74.88 and a beta of 0.63. MarketAxess has a 1 year low of $275.49 and a 1 year high of $561.68. The company has a current ratio of 7.42, a quick ratio of 7.53 and a debt-to-equity ratio of 0.11.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.12 by $0.08. The business had revenue of $184.80 million during the quarter, compared to analysts’ expectations of $185.16 million. MarketAxess had a net margin of 42.74% and a return on equity of 33.75%. During the same quarter last year, the company posted $1.27 earnings per share. Analysts predict that MarketAxess will post 7.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 0.46%. MarketAxess’s dividend payout ratio (DPR) is 44.44%.

About MarketAxess

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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Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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