MarketAxess (NASDAQ:MKTX) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of MarketAxess (NASDAQ:MKTX) from a buy rating to a hold rating in a report published on Friday morning, BidAskClub reports.

A number of other research analysts have also recently commented on MKTX. Deutsche Bank upped their price target on shares of MarketAxess from $364.00 to $382.00 and gave the stock a hold rating in a report on Wednesday, November 27th. Barclays restated a hold rating and issued a $375.00 price target on shares of MarketAxess in a report on Wednesday. ValuEngine cut shares of MarketAxess from a buy rating to a hold rating in a report on Wednesday, October 2nd. Jefferies Financial Group upped their price target on shares of MarketAxess from $318.00 to $339.00 and gave the stock a hold rating in a report on Friday, September 27th. Finally, Argus initiated coverage on shares of MarketAxess in a report on Thursday, August 29th. They issued a hold rating on the stock. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. MarketAxess has an average rating of Hold and an average target price of $324.83.

Shares of NASDAQ MKTX traded up $4.43 during mid-day trading on Friday, reaching $373.89. The company had a trading volume of 244,717 shares, compared to its average volume of 249,964. The business’s 50-day moving average is $375.00 and its 200-day moving average is $353.71. The company has a current ratio of 9.47, a quick ratio of 9.47 and a debt-to-equity ratio of 0.13. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 81.81 and a beta of 0.18. MarketAxess has a 52 week low of $199.04 and a 52 week high of $421.45.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.17. The firm had revenue of $131.60 million for the quarter, compared to analysts’ expectations of $130.00 million. MarketAxess had a net margin of 40.58% and a return on equity of 30.89%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 earnings per share. As a group, equities research analysts forecast that MarketAxess will post 5.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Wednesday, November 6th were paid a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from MarketAxess’s previous quarterly dividend of $0.20. This represents a $2.04 dividend on an annualized basis and a yield of 0.55%. MarketAxess’s dividend payout ratio is 44.64%.

In related news, insider Nicholas Themelis sold 4,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $348.66, for a total value of $1,394,640.00. Following the completion of the sale, the insider now directly owns 49,314 shares of the company’s stock, valued at $17,193,819.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard M. Mcvey sold 20,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $348.56, for a total transaction of $6,971,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,045,795 shares of the company’s stock, valued at $364,522,305.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,500 shares of company stock valued at $9,237,665. 3.28% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Quest Capital Management Inc. ADV purchased a new stake in shares of MarketAxess during the third quarter valued at about $28,000. CWM LLC lifted its position in shares of MarketAxess by 60.7% during the second quarter. CWM LLC now owns 90 shares of the financial services provider’s stock valued at $29,000 after buying an additional 34 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of MarketAxess during the third quarter valued at about $29,000. Squar Milner Financial Services LLC lifted its position in shares of MarketAxess by 1,250.0% during the third quarter. Squar Milner Financial Services LLC now owns 108 shares of the financial services provider’s stock valued at $35,000 after buying an additional 100 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of MarketAxess during the second quarter valued at about $36,000. 96.09% of the stock is owned by institutional investors.

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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