Research analysts at Rosenblatt Securities began coverage on shares of MarketAxess (NASDAQ:MKTX) in a report released on Monday, Briefing.com Automated Import reports. The firm set a “neutral” rating and a $255.00 price target on the financial services provider’s stock. Rosenblatt Securities’ price objective would suggest a potential downside of 2.26% from the stock’s previous close.
Several other brokerages have also issued reports on MKTX. Zacks Investment Research lowered MarketAxess from a “hold” rating to a “sell” rating in a report on Friday, January 11th. BidaskClub upgraded MarketAxess from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Finally, Buckingham Research initiated coverage on MarketAxess in a research report on Thursday, January 10th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. MarketAxess presently has an average rating of “Hold” and a consensus price target of $224.67.
MarketAxess stock traded up $1.05 during mid-day trading on Monday, hitting $260.90. The company’s stock had a trading volume of 6,997 shares, compared to its average volume of 220,558. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 57.01, a PEG ratio of 10.06 and a beta of 0.19. MarketAxess has a 1 year low of $172.09 and a 1 year high of $260.57.
MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.06. The company had revenue of $112.44 million during the quarter, compared to analyst estimates of $112.37 million. MarketAxess had a return on equity of 30.31% and a net margin of 39.69%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. Equities research analysts predict that MarketAxess will post 5.12 earnings per share for the current fiscal year.
In other MarketAxess news, Director John Steinhardt sold 3,187 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $215.62, for a total value of $687,180.94. Following the transaction, the director now owns 24,899 shares in the company, valued at approximately $5,368,722.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Antonio L. Delise sold 8,000 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $231.99, for a total transaction of $1,855,920.00. Following the completion of the transaction, the chief financial officer now owns 36,901 shares in the company, valued at approximately $8,560,662.99. The disclosure for this sale can be found here. Insiders have sold a total of 31,187 shares of company stock valued at $6,961,901 over the last three months. Corporate insiders own 3.52% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of MarketAxess during the 4th quarter worth approximately $84,529,000. Baillie Gifford & Co. grew its position in shares of MarketAxess by 9.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,018,282 shares of the financial services provider’s stock worth $849,103,000 after purchasing an additional 335,795 shares in the last quarter. Eagle Asset Management Inc. grew its position in shares of MarketAxess by 39.9% during the fourth quarter. Eagle Asset Management Inc. now owns 383,256 shares of the financial services provider’s stock worth $80,985,000 after purchasing an additional 109,281 shares in the last quarter. Ownership Capital B.V. grew its position in shares of MarketAxess by 28.5% during the fourth quarter. Ownership Capital B.V. now owns 427,436 shares of the financial services provider’s stock worth $90,322,000 after purchasing an additional 94,860 shares in the last quarter. Finally, Scout Investments Inc. purchased a new stake in shares of MarketAxess during the fourth quarter worth about $18,505,000. Hedge funds and other institutional investors own 99.19% of the company’s stock.
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.
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