MarketAxess (NASDAQ:MKTX) Downgraded to Buy at BidaskClub

Share on StockTwits

BidaskClub lowered shares of MarketAxess (NASDAQ:MKTX) from a strong-buy rating to a buy rating in a research note published on Thursday morning, BidAskClub reports.

Several other brokerages have also commented on MKTX. Deutsche Bank upped their target price on MarketAxess from $332.00 to $336.00 and gave the company a hold rating in a research report on Wednesday, August 14th. Argus initiated coverage on MarketAxess in a report on Thursday, August 29th. They issued a hold rating on the stock. ValuEngine lowered MarketAxess from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Buckingham Research downgraded MarketAxess from a neutral rating to an underperform rating and set a $245.00 price target for the company. in a research report on Wednesday, June 12th. Finally, Barclays increased their price target on MarketAxess from $244.00 to $289.00 and gave the company an equal weight rating in a research report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $277.20.

Shares of MKTX stock traded down $14.85 during mid-day trading on Thursday, hitting $330.29. The stock had a trading volume of 430,556 shares, compared to its average volume of 367,248. MarketAxess has a fifty-two week low of $172.09 and a fifty-two week high of $421.45. The firm has a market cap of $12.92 billion, a PE ratio of 72.27 and a beta of 0.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.05 and a quick ratio of 10.05. The company’s 50-day simple moving average is $370.45 and its 200-day simple moving average is $307.54.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.03). MarketAxess had a net margin of 39.89% and a return on equity of 29.85%. The firm had revenue of $125.50 million during the quarter, compared to the consensus estimate of $126.06 million. During the same quarter last year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, analysts expect that MarketAxess will post 5.2 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Tuesday, August 6th. MarketAxess’s dividend payout ratio (DPR) is presently 44.64%.

In other MarketAxess news, CEO Richard M. Mcvey sold 20,000 shares of MarketAxess stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $350.07, for a total transaction of $7,001,400.00. Following the completion of the sale, the chief executive officer now owns 1,044,249 shares of the company’s stock, valued at $365,560,247.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Themelis sold 2,750 shares of MarketAxess stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $347.39, for a total value of $955,322.50. Following the sale, the insider now directly owns 53,064 shares of the company’s stock, valued at approximately $18,433,902.96. The disclosure for this sale can be found here. Insiders have sold 23,750 shares of company stock valued at $8,359,543 in the last three months. 3.28% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of MKTX. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in MarketAxess during the 2nd quarter valued at about $2,346,000. Hancock Whitney Corp increased its holdings in MarketAxess by 38.3% during the 2nd quarter. Hancock Whitney Corp now owns 22,456 shares of the financial services provider’s stock valued at $7,218,000 after purchasing an additional 6,223 shares during the period. Toronto Dominion Bank increased its holdings in MarketAxess by 727.4% during the 2nd quarter. Toronto Dominion Bank now owns 22,158 shares of the financial services provider’s stock valued at $7,122,000 after purchasing an additional 19,480 shares during the period. Atria Investments LLC increased its holdings in MarketAxess by 43.2% during the 2nd quarter. Atria Investments LLC now owns 4,857 shares of the financial services provider’s stock valued at $1,778,000 after purchasing an additional 1,466 shares during the period. Finally, Natixis increased its holdings in MarketAxess by 91.8% during the 2nd 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 during the period. 99.91% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: Understanding Options Trading

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.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.