MarketAxess (NASDAQ:MKTX) Hits New 1-Year Low at $199.34

MarketAxess Holdings Inc. (NASDAQ:MKTX) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $199.34 and last traded at $201.32, with a volume of 13961 shares traded. The stock had previously closed at $201.93.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of MarketAxess in a report on Tuesday, January 23rd. Barclays lowered their target price on shares of MarketAxess from $239.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Piper Sandler reduced their price target on shares of MarketAxess from $250.00 to $237.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. The Goldman Sachs Group reduced their price target on shares of MarketAxess from $263.00 to $225.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Finally, Rosenblatt Securities reduced their price target on shares of MarketAxess from $229.00 to $210.00 and set a “sell” rating on the stock in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $252.80.

MarketAxess Stock Up 0.4 %

The company’s 50 day moving average price is $216.43 and its 200-day moving average price is $237.33. The stock has a market cap of $7.67 billion, a P/E ratio of 29.78, a P/E/G ratio of 4.22 and a beta of 0.98.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.11. The firm had revenue of $197.20 million during the quarter, compared to the consensus estimate of $196.70 million. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 earnings per share. Equities research analysts anticipate that MarketAxess Holdings Inc. will post 7.28 earnings per share for the current year.

Insider Activity

In other news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $221.26, for a total transaction of $442,520.00. Following the completion of the transaction, the executive now owns 70,092 shares of the company’s stock, valued at $15,508,555.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On MarketAxess

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in MarketAxess by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 4,526,422 shares of the financial services provider’s stock valued at $1,325,563,000 after purchasing an additional 34,197 shares in the last quarter. BlackRock Inc. increased its stake in MarketAxess by 18.3% in the first quarter. BlackRock Inc. now owns 3,928,679 shares of the financial services provider’s stock valued at $1,537,253,000 after purchasing an additional 608,107 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in MarketAxess by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,071,391 shares of the financial services provider’s stock valued at $577,691,000 after purchasing an additional 19,225 shares in the last quarter. State Street Corp increased its stake in MarketAxess by 0.7% in the first quarter. State Street Corp now owns 1,868,716 shares of the financial services provider’s stock valued at $635,737,000 after purchasing an additional 13,367 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in MarketAxess by 3.8% in the fourth quarter. Royal Bank of Canada now owns 1,770,203 shares of the financial services provider’s stock valued at $518,403,000 after purchasing an additional 64,245 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

About MarketAxess

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.