MarketAxess (NASDAQ:MKTX) had its target price boosted by Buckingham Research from $241.00 to $249.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm presently has an “underperform” rating on the financial services provider’s stock. Buckingham Research’s target price indicates a potential downside of 25.57% from the company’s current price.
A number of other brokerages have also issued reports on MKTX. Jefferies Financial Group upped their price objective on shares of MarketAxess from $318.00 to $339.00 and gave the company a “hold” rating in a report on Friday, September 27th. Argus assumed coverage on shares of MarketAxess in a report on Thursday, August 29th. They issued a “hold” rating for the company. Deutsche Bank upped their price objective on shares of MarketAxess from $332.00 to $336.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. ValuEngine lowered shares of MarketAxess from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, BidaskClub lowered shares of MarketAxess from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. MarketAxess presently has an average rating of “Hold” and an average target price of $288.17.
Shares of NASDAQ MKTX traded up $15.81 during mid-day trading on Thursday, reaching $334.54. The company’s stock had a trading volume of 7,872 shares, compared to its average volume of 492,067. The stock has a 50-day moving average of $365.01 and a two-hundred day moving average of $317.30. The stock has a market capitalization of $12.37 billion, a P/E ratio of 72.98 and a beta of 0.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.05 and a current ratio of 10.05. MarketAxess has a 1-year low of $177.14 and a 1-year high of $421.45.
In related news, Director Richard Leon Prager bought 1,000 shares of the stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $358.49 per share, with a total value of $358,490.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard M. Mcvey sold 20,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $350.07, for a total transaction of $7,001,400.00. Following the transaction, the chief executive officer now directly owns 1,044,249 shares of the company’s stock, valued at approximately $365,560,247.43. The disclosure for this sale can be found here. Insiders sold 23,750 shares of company stock valued at $8,359,543 in the last three months. 3.28% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in MKTX. JPMorgan Chase & Co. boosted its stake in MarketAxess by 221.7% during the second quarter. JPMorgan Chase & Co. now owns 857,638 shares of the financial services provider’s stock worth $271,304,000 after buying an additional 591,073 shares during the period. Baillie Gifford & Co. boosted its stake in MarketAxess by 8.4% during the second quarter. Baillie Gifford & Co. now owns 4,375,906 shares of the financial services provider’s stock worth $1,406,504,000 after buying an additional 339,211 shares during the period. Nuveen Asset Management LLC purchased a new position in MarketAxess during the second quarter worth about $56,479,000. Natixis boosted its stake in MarketAxess by 91.8% during the second quarter. Natixis now owns 301,784 shares of the financial services provider’s stock worth $96,999,000 after buying an additional 144,431 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in MarketAxess during the second quarter worth about $46,326,000. 99.77% of the stock is owned by institutional investors.
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 firms the access to global liquidity in U.S.
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