MarketAxess (MKTX) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of MarketAxess (NASDAQ:MKTX) from a hold rating to a buy rating in a report published on Tuesday.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded MarketAxess from a hold rating to a sell rating in a report on Friday, July 6th. ValuEngine upgraded MarketAxess from a hold rating to a buy rating in a report on Monday, July 16th. Compass Point started coverage on MarketAxess in a report on Tuesday, July 24th. They issued a neutral rating and a $205.00 price objective for the company. Keefe, Bruyette & Woods reiterated a hold rating and issued a $210.00 price objective on shares of MarketAxess in a report on Thursday, July 26th. Finally, Jefferies Financial Group started coverage on MarketAxess in a report on Wednesday, August 1st. They issued a hold rating and a $219.00 price objective for the company. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $210.63.

MKTX stock traded down $2.57 on Tuesday, reaching $208.08. The company’s stock had a trading volume of 10,276 shares, compared to its average volume of 218,825. MarketAxess has a 12-month low of $171.45 and a 12-month high of $229.84. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 53.77, a PEG ratio of 9.23 and a beta of 0.44.



MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.09. MarketAxess had a return on equity of 29.49% and a net margin of 37.33%. The company had revenue of $101.44 million during the quarter, compared to analyst estimates of $101.19 million. During the same quarter last year, the firm posted $0.90 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts predict that MarketAxess will post 4.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th will be issued a $0.42 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $1.68 dividend on an annualized basis and a yield of 0.81%. MarketAxess’s dividend payout ratio (DPR) is 43.08%.

In other news, CEO Richard M. Mcvey sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $186.70, for a total transaction of $3,734,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,052,331 shares in the company, valued at $196,470,197.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Themelis sold 12,831 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $186.51, for a total value of $2,393,109.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,804 shares of company stock valued at $12,555,086. 3.52% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Sterling Capital Management LLC bought a new position in shares of MarketAxess during the second quarter valued at $1,245,000. Vident Investment Advisory LLC bought a new position in shares of MarketAxess during the second quarter valued at $761,000. BlackRock Inc. increased its holdings in shares of MarketAxess by 3.6% during the second quarter. BlackRock Inc. now owns 3,411,494 shares of the financial services provider’s stock valued at $674,996,000 after acquiring an additional 117,686 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in shares of MarketAxess by 2.8% during the second quarter. Riverhead Capital Management LLC now owns 13,842 shares of the financial services provider’s stock valued at $2,739,000 after acquiring an additional 372 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of MarketAxess by 32.2% during the second quarter. State of Alaska Department of Revenue now owns 4,470 shares of the financial services provider’s stock valued at $884,000 after acquiring an additional 1,090 shares in the last quarter. Hedge funds and other institutional investors own 98.89% 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 the access to global liquidity in U.S.

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Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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