MarketAxess Holdings Inc. (MKTX) Hits New 12-Month High at $165.06
Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $165.06 and last traded at $164.70, with a volume of 56,040 shares traded. The stock had previously closed at $162.22.
A number of brokerages recently issued reports on MKTX. Credit Suisse Group AG restated a “sell” rating and set a $106.00 target price on shares of MarketAxess Holdings in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of MarketAxess Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th. Keefe, Bruyette & Woods raised their target price on shares of MarketAxess Holdings from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Raymond James Financial Inc. lowered shares of MarketAxess Holdings from an “outperform” rating to a “market perform” rating in a report on Friday, July 15th. Finally, Citigroup Inc. lowered shares of MarketAxess Holdings to a “market perform” rating in a report on Friday, July 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $136.25.
The firm’s 50-day moving average price is $154.61 and its 200 day moving average price is $133.61. The company has a market cap of $6.14 billion and a P/E ratio of 56.23.
MarketAxess Holdings (NASDAQ:MKTX) last released its earnings results on Thursday, July 28th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.03. The business earned $96.60 million during the quarter, compared to the consensus estimate of $93.98 million. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Equities research analysts expect that MarketAxess Holdings Inc. will post $3.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, August 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.64%.
In related news, CEO Richard M. Mcvey sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $162.33, for a total value of $4,869,900.00. Following the sale, the chief executive officer now directly owns 1,091,457 shares in the company, valued at approximately $177,176,214.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David G. Gomach sold 4,923 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $139.03, for a total transaction of $684,444.69. Following the completion of the sale, the director now owns 486 shares in the company, valued at $67,568.58. The disclosure for this sale can be found here.
Several hedge funds have added to or reduced their stakes in MKTX. US Bancorp DE increased its stake in MarketAxess Holdings by 7.8% in the fourth quarter. US Bancorp DE now owns 21,901 shares of the company’s stock worth $2,444,000 after buying an additional 1,577 shares during the last quarter. RS Investment Management Co. LLC raised its stake in MarketAxess Holdings by 28.5% in the fourth quarter. RS Investment Management Co. LLC now owns 521,317 shares of the company’s stock worth $58,174,000 after buying an additional 115,712 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in MarketAxess Holdings during the fourth quarter worth about $1,339,000. Stephens Investment Management Group LLC purchased a new stake in MarketAxess Holdings during the fourth quarter worth about $21,367,000. Finally, Dimensional Fund Advisors LP raised its stake in MarketAxess Holdings by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 649,410 shares of the company’s stock worth $72,469,000 after buying an additional 2,529 shares in the last quarter.
MarketAxess Holdings Inc (MarketAxess) is an electronic trading platform. The Company operates as an electronic multi-party platform for the trading of fixed-income securities and provides related data, analytics, compliance tools and post-trade services. The Company’s multi-dealer trading platform allows its institutional investor clients to request bids or offers from its broker-dealer clients and execute trades with the broker-dealer of their choice from among those that choose to respond.
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