MarketAxess Holdings, Inc. (NASDAQ:MKTX) Releases Earnings Results, Beats Expectations By $0.08 EPS
MarketAxess Holdings, Inc. (NASDAQ:MKTX) released its quarterly earnings data on Wednesday. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.08, Morningstar.com reports. The business had revenue of $97.31 million for the quarter, compared to analysts’ expectations of $96.42 million. MarketAxess Holdings had a return on equity of 30.39% and a net margin of 36.26%. MarketAxess Holdings’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 earnings per share.
Shares of MarketAxess Holdings (NASDAQ:MKTX) traded up 3.63% during mid-day trading on Wednesday, reaching $206.72. The company had a trading volume of 259,107 shares. MarketAxess Holdings has a 12-month low of $145.10 and a 12-month high of $211.06. The firm’s 50 day moving average is $198.79 and its 200-day moving average is $188.15. The stock has a market capitalization of $7.76 billion, a P/E ratio of 56.14 and a beta of 0.70.
In other MarketAxess Holdings news, insider Kevin M. Mcpherson sold 9,286 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $201.35, for a total transaction of $1,869,736.10. Following the transaction, the insider now owns 90,929 shares in the company, valued at approximately $18,308,554.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Themelis sold 5,596 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was 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 in the company, valued at approximately $13,609,520.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,112 shares of company stock worth $11,912,518. Corporate insiders own 4.51% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in MarketAxess Holdings by 16,586.2% in the first quarter. BlackRock Inc. now owns 3,000,674 shares of the financial services provider’s stock worth $562,595,000 after buying an additional 2,982,691 shares during the period. Vanguard Group Inc. raised its position in MarketAxess Holdings by 5.0% in the first quarter. Vanguard Group Inc. now owns 2,855,565 shares of the financial services provider’s stock worth $535,390,000 after buying an additional 134,735 shares during the period. Columbus Circle Investors bought a new position in MarketAxess Holdings during the first quarter worth approximately $13,760,000. Ownership Capital B.V. bought a new position in MarketAxess Holdings during the first quarter worth approximately $13,202,000. Finally, FMR LLC raised its position in MarketAxess Holdings by 22.5% in the first quarter. FMR LLC now owns 359,802 shares of the financial services provider’s stock worth $67,459,000 after buying an additional 66,040 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.
A number of analysts have recently issued reports on MKTX shares. Zacks Investment Research cut MarketAxess Holdings from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Keefe, Bruyette & Woods restated a “buy” rating and set a $190.00 price objective on shares of MarketAxess Holdings in a research report on Tuesday, April 4th. Finally, BidaskClub upgraded MarketAxess Holdings from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $189.83.
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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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