MarketAxess (NASDAQ:MKTX)‘s stock had its “market perform” rating restated by equities researchers at Raymond James Financial in a research note issued on Monday.
Other equities research analysts also recently issued research reports about the company. UBS Group downgraded MarketAxess from an “outperform” rating to a “market perform” rating in a research report on Monday. Keefe, Bruyette & Woods restated a “buy” rating and set a $215.00 price target on shares of MarketAxess in a research report on Friday, December 22nd. Zacks Investment Research upgraded MarketAxess from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Rosenblatt Securities assumed coverage on MarketAxess in a research report on Thursday, December 14th. They set a “neutral” rating and a $190.00 price target on the stock. Finally, Goldman Sachs Group downgraded MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 price target on the stock. in a research report on Monday, January 8th. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $202.86.
Shares of MarketAxess (NASDAQ MKTX) opened at $208.39 on Monday. MarketAxess has a 12-month low of $154.03 and a 12-month high of $211.06. The firm has a market capitalization of $7,822.32, a PE ratio of 53.57 and a beta of 0.70.
MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.90. MarketAxess had a return on equity of 30.12% and a net margin of 37.67%. The business had revenue of $96.70 million for the quarter, compared to the consensus estimate of $96.35 million. During the same quarter last year, the business posted $0.82 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. analysts forecast that MarketAxess will post 3.89 earnings per share for the current fiscal year.
MarketAxess declared that its board has approved a stock buyback program on Wednesday, October 25th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In other news, insider Nicholas Themelis sold 4,000 shares of MarketAxess stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $176.40, for a total value of $705,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard M. Mcvey sold 35,000 shares of MarketAxess stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $178.29, for a total value of $6,240,150.00. Following the completion of the transaction, the chief executive officer now owns 1,113,076 shares in the company, valued at approximately $198,450,320.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,225 shares of company stock worth $8,955,630. Company insiders own 4.02% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MKTX. Teachers Advisors LLC increased its holdings in shares of MarketAxess by 1.4% in the second quarter. Teachers Advisors LLC now owns 38,224 shares of the financial services provider’s stock worth $7,687,000 after buying an additional 538 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of MarketAxess by 21.0% in the second quarter. UBS Asset Management Americas Inc. now owns 25,661 shares of the financial services provider’s stock worth $5,160,000 after buying an additional 4,445 shares during the period. Citigroup Inc. increased its holdings in shares of MarketAxess by 24.5% in the second quarter. Citigroup Inc. now owns 14,590 shares of the financial services provider’s stock worth $2,933,000 after buying an additional 2,867 shares during the period. D.A. Davidson & CO. increased its holdings in shares of MarketAxess by 0.5% in the second quarter. D.A. Davidson & CO. now owns 1,380 shares of the financial services provider’s stock worth $277,000 after buying an additional 7 shares during the period. Finally, Vanguard Group Inc. increased its holdings 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 worth $582,038,000 after buying an additional 38,702 shares during the period. Hedge funds and other institutional investors own 91.74% 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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