MarketAxess (MKTX) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of MarketAxess (NASDAQ:MKTX) from a hold rating to a sell rating in a report released on Thursday.

Several other analysts have also commented on the company. Zacks Investment Research lowered MarketAxess from a hold rating to a sell rating in a research note on Monday, September 10th. Barclays assumed coverage on MarketAxess in a research note on Friday, September 7th. They issued an equal weight rating and a $200.00 price target on the stock. Jefferies Financial Group assumed coverage on MarketAxess in a research note on Wednesday, August 1st. They issued a hold rating and a $219.00 price target on the stock. ValuEngine lowered MarketAxess from a buy rating to a hold rating in a research note on Thursday, July 26th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $210.00 price target on shares of MarketAxess in a research note on Thursday, July 26th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $210.88.

Shares of NASDAQ:MKTX opened at $183.45 on Thursday. MarketAxess has a 1-year low of $171.45 and a 1-year high of $229.84. The company has a market cap of $6.92 billion, a PE ratio of 44.57, a PEG ratio of 8.41 and a beta of 0.50.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.02. The business had revenue of $106.96 million for the quarter, compared to analyst estimates of $106.41 million. MarketAxess had a return on equity of 29.49% and a net margin of 37.33%. MarketAxess’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 EPS. research analysts expect that MarketAxess will post 4.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th were given a $0.42 dividend. The ex-dividend date was Wednesday, August 8th. This represents a $1.68 annualized dividend and a yield of 0.92%. MarketAxess’s payout ratio is 43.08%.

In other MarketAxess news, CEO Richard M. Mcvey sold 10,959 shares of MarketAxess stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $189.31, for a total value of $2,074,648.29. Following the completion of the transaction, the chief executive officer now owns 1,054,743 shares in the company, valued at approximately $199,673,397.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard M. Mcvey sold 23,014 shares of MarketAxess stock in a transaction on Monday, August 6th. The shares were sold at an average price of $189.16, for a total value of $4,353,328.24. Following the completion of the transaction, the chief executive officer now owns 1,054,743 shares of the company’s stock, valued at approximately $199,515,185.88. 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. Corporate insiders own 3.52% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of MKTX. TLP Group LLC bought a new position in MarketAxess in the 1st quarter valued at $204,000. Alps Advisors Inc. bought a new position in MarketAxess in the 2nd quarter valued at $205,000. Gideon Capital Advisors Inc. bought a new position in MarketAxess in the 1st quarter valued at $211,000. Hartford Investment Management Co. bought a new position in MarketAxess in the 2nd quarter valued at $278,000. Finally, GFS Advisors LLC bought a new position in MarketAxess in the 2nd quarter valued at $361,000. Hedge funds and other institutional investors own 99.98% of the company’s stock.

About MarketAxess

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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