MarketAxess (NASDAQ:MKTX) Downgraded to Buy at BidaskClub

BidaskClub cut shares of MarketAxess (NASDAQ:MKTX) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning, BidAskClub reports.

Several other brokerages have also issued reports on MKTX. Deutsche Bank lifted their price objective on shares of MarketAxess from $332.00 to $336.00 and gave the company a hold rating in a report on Wednesday, August 14th. Barclays lifted their price objective on shares of MarketAxess from $244.00 to $289.00 and gave the company an equal weight rating in a report on Friday, June 28th. Buckingham Research lowered shares of MarketAxess from a neutral rating to an underperform rating and set a $245.00 price objective on the stock. in a report on Wednesday, June 12th. Argus started coverage on shares of MarketAxess in a report on Thursday, August 29th. They set a hold rating on the stock. Finally, ValuEngine lowered shares of MarketAxess from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $277.20.

Shares of NASDAQ:MKTX traded down $14.85 during trading on Thursday, reaching $330.29. 430,556 shares of the company were exchanged, compared to its average volume of 367,248. The firm has a market capitalization of $12.92 billion, a PE ratio of 72.27 and a beta of 0.17. The business’s fifty day simple moving average is $370.45 and its 200-day simple moving average is $307.54. MarketAxess has a 12-month low of $172.09 and a 12-month high of $421.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.05 and a quick ratio of 10.05.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.03). The company had revenue of $125.50 million for the quarter, compared to analysts’ expectations of $126.06 million. MarketAxess had a return on equity of 29.85% and a net margin of 39.89%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $1.07 earnings per share. On average, sell-side analysts anticipate that MarketAxess will post 5.2 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Tuesday, August 6th. MarketAxess’s dividend payout ratio is currently 44.64%.

In other MarketAxess news, CEO Richard M. Mcvey sold 20,000 shares of MarketAxess stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $350.07, for a total value of $7,001,400.00. Following the transaction, the chief executive officer now directly owns 1,044,249 shares of the company’s stock, valued at $365,560,247.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen P. Casper sold 1,000 shares of MarketAxess stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $402.82, for a total transaction of $402,820.00. Following the completion of the transaction, the director now directly owns 13,567 shares in the company, valued at $5,465,058.94. The disclosure for this sale can be found here. Insiders sold 23,750 shares of company stock worth $8,359,543 over the last ninety days. Corporate insiders own 3.28% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in MarketAxess in the second quarter worth $2,346,000. Hancock Whitney Corp grew its holdings in MarketAxess by 38.3% in the second quarter. Hancock Whitney Corp now owns 22,456 shares of the financial services provider’s stock worth $7,218,000 after purchasing an additional 6,223 shares during the last quarter. Toronto Dominion Bank grew its holdings in MarketAxess by 727.4% in the second quarter. Toronto Dominion Bank now owns 22,158 shares of the financial services provider’s stock worth $7,122,000 after purchasing an additional 19,480 shares during the last quarter. Atria Investments LLC grew its holdings in MarketAxess by 43.2% in the second quarter. Atria Investments LLC now owns 4,857 shares of the financial services provider’s stock worth $1,778,000 after purchasing an additional 1,466 shares during the last quarter. Finally, Natixis grew its holdings in MarketAxess by 91.8% in the second quarter. Natixis now owns 301,784 shares of the financial services provider’s stock worth $96,999,000 after purchasing an additional 144,431 shares during the last quarter. 99.91% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: How Do I Invest in Dividend Stocks

Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit