MarketAxess (NASDAQ:MKTX – Get Free Report) had its price target reduced by analysts at Barclays from $260.00 to $256.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 18.17% from the stock’s current price.
Several other research firms have also weighed in on MKTX. The Goldman Sachs Group lifted their price objective on MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Morgan Stanley lifted their price target on shares of MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods dropped their price objective on shares of MarketAxess from $276.00 to $255.00 and set a “market perform” rating for the company in a research report on Friday, December 20th. Piper Sandler reduced their target price on shares of MarketAxess from $265.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, UBS Group increased their price target on MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $261.30.
Read Our Latest Analysis on MKTX
MarketAxess Stock Down 0.1 %
MarketAxess (NASDAQ:MKTX – Get Free Report) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.05. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The business had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.17 million. During the same period last year, the company posted $1.46 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. Research analysts forecast that MarketAxess will post 7.38 earnings per share for the current fiscal year.
Insider Buying and Selling at MarketAxess
In other MarketAxess news, General Counsel Scott Pintoff sold 300 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $240.57, for a total transaction of $72,171.00. Following the completion of the transaction, the general counsel now directly owns 8,302 shares of the company’s stock, valued at $1,997,212.14. This trade represents a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard M. Mcvey sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the completion of the sale, the chairman now owns 562,029 shares in the company, valued at approximately $150,438,302.43. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,300 shares of company stock worth $8,183,871 in the last 90 days. 2.66% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Asset Management One Co. Ltd. raised its position in shares of MarketAxess by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 15,431 shares of the financial services provider’s stock valued at $3,953,000 after acquiring an additional 50 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of MarketAxess by 1.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider’s stock worth $1,287,000 after purchasing an additional 52 shares during the period. M&T Bank Corp lifted its position in shares of MarketAxess by 4.0% in the 3rd quarter. M&T Bank Corp now owns 1,469 shares of the financial services provider’s stock worth $376,000 after buying an additional 56 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of MarketAxess by 4.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the financial services provider’s stock valued at $324,000 after buying an additional 76 shares during the period. Finally, Horizon Kinetics Asset Management LLC boosted its holdings in shares of MarketAxess by 6.0% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 1,342 shares of the financial services provider’s stock valued at $344,000 after buying an additional 76 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.
MarketAxess Company Profile
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.
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