Goldman Sachs Group lowered shares of MarketAxess (NASDAQ:MKTX) from a buy rating to a neutral rating in a report released on Monday morning, MarketBeat reports. Goldman Sachs Group currently has $210.00 target price on the financial services provider’s stock.
A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of MarketAxess from a hold rating to a sell rating in a research report on Thursday, October 5th. Keefe, Bruyette & Woods reissued a buy rating and set a $215.00 target price on shares of MarketAxess in a research report on Friday, December 22nd. Finally, Rosenblatt Securities began coverage on shares of MarketAxess in a research report on Thursday, December 14th. They set a neutral rating and a $190.00 target price for the company. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. MarketAxess currently has an average rating of Buy and a consensus price target of $202.86.
Shares of MarketAxess (NASDAQ MKTX) opened at $201.52 on Monday. The company has a market cap of $7,560.00, a PE ratio of 51.80 and a beta of 0.70. MarketAxess has a one year low of $153.95 and a one year high of $211.06.
MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.90. The firm had revenue of $96.70 million during the quarter, compared to analyst estimates of $96.35 million. MarketAxess had a net margin of 37.67% and a return on equity of 30.12%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. analysts expect that MarketAxess will post 3.93 earnings per share for the current year.
MarketAxess declared that its Board of Directors has approved a stock buyback plan on Wednesday, October 25th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other news, insider Nicholas Themelis sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $176.40, for a total transaction of $705,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Steinhardt sold 4,225 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $174.00, for a total transaction of $735,150.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,225 shares of company stock valued at $8,955,630. Insiders own 4.02% of the company’s stock.
Several institutional investors have recently bought and sold shares of MKTX. BlackRock Inc. raised its position in MarketAxess by 2.1% in the 2nd quarter. BlackRock Inc. now owns 3,063,588 shares of the financial services provider’s stock worth $616,087,000 after purchasing an additional 62,914 shares during the period. Vanguard Group Inc. increased its position in shares of MarketAxess by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,894,267 shares of the financial services provider’s stock valued at $582,038,000 after acquiring an additional 38,702 shares during the period. Wells Fargo & Company MN increased its position in shares of MarketAxess by 10.3% in the third quarter. Wells Fargo & Company MN now owns 1,232,534 shares of the financial services provider’s stock valued at $227,415,000 after acquiring an additional 115,038 shares during the period. Neuberger Berman Group LLC increased its position in shares of MarketAxess by 0.4% in the third quarter. Neuberger Berman Group LLC now owns 988,574 shares of the financial services provider’s stock valued at $182,402,000 after acquiring an additional 4,191 shares during the period. Finally, State Street Corp increased its position in shares of MarketAxess by 0.4% in the second quarter. State Street Corp now owns 984,978 shares of the financial services provider’s stock valued at $198,075,000 after acquiring an additional 4,168 shares during the period. Hedge funds and other institutional investors own 91.65% of the company’s stock.
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MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.
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