Rosenblatt Securities Reiterates “Hold” Rating for MarketAxess (NASDAQ:MKTX)

Rosenblatt Securities restated their hold rating on shares of MarketAxess (NASDAQ:MKTX) in a research report sent to investors on Friday, AnalystRatings.com reports. The brokerage currently has a $343.00 price target on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Argus began coverage on shares of MarketAxess in a report on Thursday, August 29th. They issued a hold rating for the company. BidaskClub lowered shares of MarketAxess from a buy rating to a hold rating in a report on Friday. Jefferies Financial Group increased their target price on shares of MarketAxess from $318.00 to $339.00 and gave the stock a hold rating in a report on Friday, September 27th. Buckingham Research increased their target price on shares of MarketAxess from $241.00 to $249.00 and gave the stock an underperform rating in a report on Thursday, October 3rd. Finally, ValuEngine lowered shares of MarketAxess from a buy rating to a hold rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. MarketAxess presently has a consensus rating of Hold and an average target price of $324.83.

MarketAxess stock traded up $4.43 during midday trading on Friday, hitting $373.89. The stock had a trading volume of 244,717 shares, compared to its average volume of 249,964. The firm’s fifty day moving average is $375.00 and its two-hundred day moving average is $353.71. The company has a market capitalization of $14.23 billion, a PE 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. The company has a current ratio of 9.47, a quick ratio of 9.47 and a debt-to-equity ratio of 0.13.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.51 per share. 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%. The ex-dividend date was Tuesday, November 5th. MarketAxess’s dividend payout ratio (DPR) is 44.64%.

In other MarketAxess news, CFO Antonio L. Delise sold 2,500 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $348.73, for a total transaction of $871,825.00. Following the completion of the sale, the chief financial officer now directly owns 44,157 shares of the company’s stock, valued at approximately $15,398,870.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Themelis sold 4,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $348.66, for a total transaction of $1,394,640.00. Following the sale, the insider now directly owns 49,314 shares of the company’s stock, valued at $17,193,819.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,500 shares of company stock valued at $9,237,665. Insiders own 3.28% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MKTX. JPMorgan Chase & Co. grew its holdings in MarketAxess by 221.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 857,638 shares of the financial services provider’s stock valued at $271,304,000 after buying an additional 591,073 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of MarketAxess by 8.4% in the second quarter. Baillie Gifford & Co. now owns 4,375,906 shares of the financial services provider’s stock valued at $1,406,504,000 after purchasing an additional 339,211 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of MarketAxess in the second quarter valued at $56,479,000. Natixis grew its holdings in shares of MarketAxess by 91.8% in the second quarter. Natixis now owns 301,784 shares of the financial services provider’s stock valued at $96,999,000 after purchasing an additional 144,431 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of MarketAxess by 29.6% in the second quarter. Northern Trust Corp now owns 396,741 shares of the financial services provider’s stock valued at $127,520,000 after purchasing an additional 90,629 shares in the last quarter. 96.09% of the stock is 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.

Featured Story: Fundamental Analysis

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