MarketAxess (MKTX) Earns Market Perform Rating from Raymond James Financial

MarketAxess (NASDAQ:MKTX)‘s stock had its “market perform” rating reissued by stock analysts at Raymond James Financial in a report issued on Monday.

MKTX has been the topic of several other reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $215.00 target price on shares of MarketAxess in a research note on Friday, December 22nd. Zacks Investment Research upgraded MarketAxess from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Goldman Sachs Group lowered MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research note on Monday, January 8th. UBS Group lowered MarketAxess from an “outperform” rating to a “market perform” rating in a research note on Monday. Finally, Rosenblatt Securities began coverage on MarketAxess in a research note on Thursday, December 14th. They issued a “neutral” rating and a $190.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $202.86.

Shares of MarketAxess (NASDAQ:MKTX) opened at $208.39 on Monday. The company has a market capitalization of $7,822.32, a price-to-earnings ratio of 53.57 and a beta of 0.70. MarketAxess has a fifty-two week low of $154.03 and a fifty-two week high of $211.06.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.90. The firm had revenue of $96.70 million for the quarter, compared to analyst estimates of $96.35 million. MarketAxess had a return on equity of 30.12% and a net margin of 37.67%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. equities analysts expect that MarketAxess will post 3.89 EPS for the current fiscal year.

MarketAxess announced that its board has initiated a share repurchase plan on Wednesday, October 25th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

In related news, CEO Richard M. Mcvey sold 35,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $178.29, for a total transaction of $6,240,150.00. Following the sale, the chief executive officer now directly owns 1,113,076 shares in the company, valued at approximately $198,450,320.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen P. Casper sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $195.84, for a total value of $391,680.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,225 shares of company stock worth $8,955,630. 4.02% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new stake in shares of MarketAxess during the 2nd quarter valued at $103,000. Cutler Group LP bought a new stake in shares of MarketAxess during the 2nd quarter valued at $110,000. First Personal Financial Services raised its stake in shares of MarketAxess by 2.6% during the 2nd quarter. First Personal Financial Services now owns 631 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 16 shares during the period. GQG Partners LLC bought a new stake in shares of MarketAxess during the 2nd quarter valued at $127,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of MarketAxess during the 2nd quarter valued at $160,000. Institutional investors own 91.74% of the company’s stock.

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MarketAxess Company Profile

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.

Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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