MarketAxess (MKTX) Posts Earnings Results, Beats Expectations By $0.05 EPS

MarketAxess (NASDAQ:MKTX) announced its quarterly earnings data on Wednesday. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.05, MarketWatch Earnings reports. MarketAxess had a return on equity of 29.54% and a net margin of 37.26%. The company had revenue of $114.71 million for the quarter, compared to analysts’ expectations of $114.45 million. During the same quarter in the prior year, the business posted $1.11 EPS. The business’s revenue was up 11.4% compared to the same quarter last year.

Shares of MKTX traded up $0.04 during mid-day trading on Wednesday, reaching $200.92. 200,174 shares of the company were exchanged, compared to its average volume of 255,612. The company has a market capitalization of $7,603.37, a price-to-earnings ratio of 51.47 and a beta of 0.57. MarketAxess has a 52 week low of $171.45 and a 52 week high of $229.84.

In other MarketAxess news, Director David G. Gomach sold 4,225 shares of MarketAxess stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $197.98, for a total value of $836,465.50. Following the completion of the sale, the director now directly owns 259 shares in the company, valued at $51,276.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Themelis sold 5,400 shares of MarketAxess stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $218.11, for a total value of $1,177,794.00. Following the completion of the sale, the insider now owns 57,927 shares of the company’s stock, valued at $12,634,457.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,125 shares of company stock valued at $10,849,545. 4.02% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in MKTX. Gardiner Nancy B purchased a new position in shares of MarketAxess during the fourth quarter valued at approximately $201,000. Polen Capital Management LLC bought a new stake in shares of MarketAxess in the fourth quarter valued at $262,000. Traynor Capital Management Inc. bought a new stake in shares of MarketAxess in the fourth quarter valued at $264,000. Ellington Management Group LLC bought a new stake in shares of MarketAxess in the fourth quarter valued at $323,000. Finally, Puzo Michael J raised its stake in shares of MarketAxess by 44.1% in the fourth quarter. Puzo Michael J now owns 1,635 shares of the financial services provider’s stock valued at $330,000 after buying an additional 500 shares during the period. 99.74% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut MarketAxess from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 12th. Zacks Investment Research lowered MarketAxess from a “hold” rating to a “sell” rating in a report on Thursday, April 5th. BidaskClub lowered MarketAxess from a “buy” rating to a “hold” rating in a report on Wednesday, April 4th. Sandler O’Neill reaffirmed a “hold” rating and issued a $215.00 price objective on shares of MarketAxess in a research note on Wednesday, April 4th. Finally, ValuEngine upgraded MarketAxess from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $214.50.

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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.

Earnings History for MarketAxess (NASDAQ:MKTX)

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