MarketAxess (NASDAQ:MKTX) Rating Lowered to Buy at BidaskClub

MarketAxess (NASDAQ:MKTX) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday, BidAskClub reports.

Several other equities research analysts have also recently issued reports on MKTX. Deutsche Bank raised their price target on shares of MarketAxess from $364.00 to $382.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Barclays set a $325.00 price objective on shares of MarketAxess and gave the company a “hold” rating in a research note on Friday, October 11th. Buckingham Research upped their price objective on shares of MarketAxess from $241.00 to $249.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Argus assumed coverage on shares of MarketAxess in a report on Thursday, August 29th. They set a “hold” rating on the stock. Finally, ValuEngine cut shares of MarketAxess from a “buy” rating to a “hold” rating in a research report on Wednesday, October 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. The stock currently has an average rating of “Hold” and a consensus target price of $301.83.

Shares of MKTX stock opened at $375.90 on Friday. The stock has a fifty day moving average price of $371.76 and a 200 day moving average price of $350.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.47 and a current ratio of 9.47. The stock has a market cap of $14.20 billion, a PE ratio of 82.25 and a beta of 0.18. MarketAxess has a 1 year low of $199.04 and a 1 year high of $421.45.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.17. The business had revenue of $131.60 million for the quarter, compared to analyst estimates of $130.00 million. MarketAxess had a return on equity of 30.89% and a net margin of 40.58%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 earnings per share. As a group, equities research analysts predict that MarketAxess will post 5.42 earnings per share for the current year.

In related news, insider Nicholas Themelis sold 4,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $348.66, for a total value of $1,394,640.00. Following the transaction, the insider now owns 49,314 shares in the company, valued at $17,193,819.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Antonio L. Delise sold 2,500 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $348.73, for a total value of $871,825.00. Following the completion of the transaction, the chief financial officer now owns 44,157 shares in the company, valued at approximately $15,398,870.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,500 shares of company stock valued at $9,237,665. 3.28% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Quest Capital Management Inc. ADV bought a new position in MarketAxess during the 3rd quarter worth approximately $28,000. CWM LLC lifted its position in shares of MarketAxess by 60.7% in the 2nd quarter. CWM LLC now owns 90 shares of the financial services provider’s stock worth $29,000 after buying an additional 34 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of MarketAxess in the 3rd quarter worth about $29,000. Squar Milner Financial Services LLC boosted its holdings in shares of MarketAxess by 1,250.0% in the 3rd quarter. Squar Milner Financial Services LLC now owns 108 shares of the financial services provider’s stock valued at $35,000 after buying an additional 100 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of MarketAxess in the 2nd quarter valued at about $36,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

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 firms the access to global liquidity in U.S.

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Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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