Shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) have been given an average recommendation of “Buy” by the eight brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $192.40.
MKTX has been the topic of several recent analyst reports. BidaskClub upgraded shares of MarketAxess Holdings from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $210.00 target price on shares of MarketAxess Holdings in a research note on Friday, July 14th. Raymond James Financial, Inc. increased their target price on shares of MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research upgraded shares of MarketAxess Holdings from a “hold” rating to a “strong-buy” rating and set a $221.00 target price on the stock in a research note on Monday, May 1st.
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Shares of MarketAxess Holdings (NASDAQ:MKTX) traded up 1.53% on Friday, reaching $191.59. 397,017 shares of the company were exchanged. The stock has a market capitalization of $7.19 billion, a PE ratio of 50.39 and a beta of 0.69. The firm has a 50 day moving average price of $197.59 and a 200-day moving average price of $192.63. MarketAxess Holdings has a 12-month low of $145.10 and a 12-month high of $211.06.
MarketAxess Holdings (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.08. The company had revenue of $97.31 million for the quarter, compared to analysts’ expectations of $96.42 million. MarketAxess Holdings had a net margin of 37.46% and a return on equity of 30.38%. MarketAxess Holdings’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. On average, analysts predict that MarketAxess Holdings will post $4.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, August 8th. MarketAxess Holdings’s payout ratio is 34.65%.
In other news, insider Nicholas Themelis sold 5,596 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $200.84, for a total value of $1,123,900.64. Following the transaction, the insider now owns 67,763 shares of the company’s stock, valued at approximately $13,609,520.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard M. Mcvey sold 20,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $198.63, for a total transaction of $3,972,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,108,142 shares in the company, valued at approximately $220,110,245.46. The disclosure for this sale can be found here. Insiders sold a total of 34,882 shares of company stock worth $6,966,237 in the last three months. Insiders own 4.51% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Cutler Group LP bought a new position in shares of MarketAxess Holdings during the second quarter worth approximately $110,000. First Personal Financial Services raised its position in shares of MarketAxess Holdings by 2.6% in the second quarter. First Personal Financial Services now owns 631 shares of the financial services provider’s stock worth $127,000 after buying an additional 16 shares during the last quarter. GQG Partners LLC bought a new position in shares of MarketAxess Holdings during the second quarter worth approximately $127,000. Traynor Capital Management Inc. bought a new position in shares of MarketAxess Holdings during the second quarter worth approximately $203,000. Finally, Puzo Michael J bought a new position in shares of MarketAxess Holdings during the first quarter worth approximately $212,000. 90.36% of the stock is currently owned by hedge funds and other institutional investors.
About MarketAxess Holdings
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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