MarketAxess Holdings Inc. (NASDAQ:MKTX) Stock Now Rated “Hold” by Wall Street Analysts

by · The Markets Daily

MarketAxess Holdings Inc. (NASDAQ:MKTX – Get Free Report) has been assigned an average rating of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat reports. Twelve research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $159.44.

MKTX has been the topic of a number of research reports. Keefe, Bruyette & Woods lowered shares of MarketAxess from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $150.00 to $167.00 in a research report on Tuesday, August 11th. Benchmark reaffirmed a “buy” rating on shares of MarketAxess in a research report on Wednesday, July 8th. Piper Sandler lowered their price target on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. William Blair cut shares of MarketAxess from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings raised shares of MarketAxess from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday.

Check Out Our Latest Analysis on MKTX

MarketAxess Trading Up 0.1%

NASDAQ MKTX opened at $165.48 on Tuesday. MarketAxess has a 52 week low of $108.75 and a 52 week high of $195.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.85 and a current ratio of 1.85. The stock’s 50 day moving average price is $163.85 and its two-hundred day moving average price is $155.48. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 2.20 and a beta of 0.80.

MarketAxess (NASDAQ:MKTX – Get Free Report) last issued its quarterly earnings results on Friday, October 23rd. The financial services provider reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.09). MarketAxess had a return on equity of 23.15% and a net margin of 33.51%. The business had revenue of $210.41 million for the quarter, compared to the consensus estimate of $218.98 million. During the same period in the prior year, the business earned $1.84 earnings per share. MarketAxess’s revenue was up .8% compared to the same quarter last year. As a group, analysts anticipate that MarketAxess will post 8.02 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be given a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. MarketAxess’s payout ratio is currently 38.19%.

Insider Transactions at MarketAxess

In related news, Director William Cruger, Jr. sold 6,164 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $163.20, for a total transaction of $1,005,964.80. Following the completion of the transaction, the director directly owned 4,033 shares of the company’s stock, valued at approximately $658,185.60. This represents a 60.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 6,464 shares of company stock worth $1,055,022 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new stake in shares of MarketAxess during the 3rd quarter worth about $3,269,000. Provenance Wealth Advisors LLC acquired a new position in MarketAxess in the 3rd quarter valued at about $39,000. Walled Lake Planning & Wealth Management LLC grew its stake in MarketAxess by 262.6% in the 3rd quarter. Walled Lake Planning & Wealth Management LLC now owns 11,299 shares of the financial services provider’s stock valued at $1,852,000 after buying an additional 8,183 shares during the last quarter. ProShare Advisors LLC acquired a new position in MarketAxess in the 3rd quarter valued at about $14,715,000. Finally, Vise Technologies Inc. bought a new position in MarketAxess in the 3rd quarter valued at about $368,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Company Profile

(Get Free Report)

MarketAxess Holdings Inc operates an electronic trading platform for fixed-income securities and related market data services. The company connects institutional investors, broker-dealers and other market participants, enabling them to trade corporate bonds, government bonds, emerging-market debt and other credit products through digital workflows.

Its offerings include electronic request-for-quote trading, all-to-all trading through its Open Trading marketplace, portfolio trading, and tools designed to support pricing, liquidity discovery and trade execution.

See Also