MarketAxess (MKTX) Upgraded to “Buy” at BidaskClub

MarketAxess (NASDAQ:MKTX) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of MarketAxess from a “hold” rating to a “sell” rating in a report on Thursday, January 17th. Goldman Sachs Group assumed coverage on shares of MarketAxess in a report on Monday, November 5th. They issued a “sell” rating for the company. Finally, Buckingham Research assumed coverage on shares of MarketAxess in a report on Thursday, January 10th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $215.50.

MarketAxess stock opened at $223.56 on Tuesday. The stock has a market capitalization of $8.30 billion, a PE ratio of 48.92, a PEG ratio of 8.53 and a beta of 0.11. MarketAxess has a 12-month low of $172.09 and a 12-month high of $231.33.



MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, January 30th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.06. The firm had revenue of $112.44 million during the quarter, compared to analyst estimates of $112.37 million. MarketAxess had a net margin of 39.69% and a return on equity of 30.31%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. On average, research analysts expect that MarketAxess will post 5.18 earnings per share for the current fiscal year.

In related news, Director John Steinhardt sold 3,187 shares of MarketAxess stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $215.62, for a total transaction of $687,180.94. Following the completion of the sale, 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 available at this link. Also, insider Kevin M. Mcpherson sold 2,500 shares of MarketAxess stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $216.89, for a total transaction of $542,225.00. The disclosure for this sale can be found here. Company insiders own 3.52% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MKTX. BlackRock Inc. increased its position in MarketAxess by 1.9% during the 3rd quarter. BlackRock Inc. now owns 3,475,311 shares of the financial services provider’s stock valued at $620,307,000 after purchasing an additional 63,817 shares during the period. Vanguard Group Inc. increased its position in MarketAxess by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,174,912 shares of the financial services provider’s stock valued at $566,689,000 after purchasing an additional 48,627 shares during the period. Vanguard Group Inc increased its position in MarketAxess by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 3,174,912 shares of the financial services provider’s stock valued at $566,689,000 after purchasing an additional 48,627 shares during the period. Capital World Investors increased its position in MarketAxess by 9.8% during the 3rd quarter. Capital World Investors now owns 1,875,100 shares of the financial services provider’s stock valued at $334,687,000 after purchasing an additional 167,500 shares during the period. Finally, Wells Fargo & Company MN increased its position in MarketAxess by 11.0% during the 3rd quarter. Wells Fargo & Company MN now owns 1,253,683 shares of the financial services provider’s stock valued at $223,770,000 after purchasing an additional 124,489 shares during the period. 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 the access to global liquidity in U.S.

See Also: Stop Order

Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

Receive News & Ratings for MarketAxess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MarketAxess and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply