MarketAxess Holdings Inc. (MKTX) Sets New 1-Year High at $163.65
MarketAxess Holdings Inc. (NASDAQ:MKTX) shares reached a new 52-week high during trading on Monday . The company traded as high as $163.65 and last traded at $162.69, with a volume of 90,665 shares changing hands. The stock had previously closed at $162.83.
MKTX has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded MarketAxess Holdings from a “hold” rating to a “strong-buy” rating and set a $172.00 price objective on the stock in a report on Tuesday, July 19th. William Blair initiated coverage on MarketAxess Holdings in a report on Monday, June 20th. They issued a “market perform” rating on the stock. Raymond James Financial Inc. cut MarketAxess Holdings from an “outperform” rating to a “market perform” rating in a report on Friday, July 15th. Citigroup Inc. cut MarketAxess Holdings to a “market perform” rating in a report on Friday, July 15th. They noted that the move was a valuation call. Finally, Credit Suisse Group AG reiterated a “sell” rating and issued a $89.00 price objective on shares of MarketAxess Holdings in a report on Friday, April 29th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. MarketAxess Holdings presently has a consensus rating of “Hold” and an average target price of $136.25.
The stock has a market cap of $6.11 billion and a P/E ratio of 56.0218. The company has a 50-day moving average price of $151.27 and a 200-day moving average price of $131.65.
MarketAxess Holdings (NASDAQ:MKTX) last issued its earnings results on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.03. The company earned $96.60 million during the quarter, compared to analysts’ expectations of $93.98 million. During the same period last year, the business posted $0.64 earnings per share. The company’s quarterly revenue was up 27.9% on a year-over-year basis. On average, equities analysts predict that MarketAxess Holdings Inc. will post $3.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th will be paid a dividend of $0.26 per share. 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 other news, CEO Richard M. Mcvey sold 30,000 shares of the firm’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 transaction of $4,869,900.00. Following the completion of the transaction, the chief executive officer now directly owns 1,091,457 shares of the company’s stock, valued at approximately $177,176,214.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David G. Gomach sold 4,923 shares of the firm’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 transaction, the director now directly owns 486 shares of the company’s stock, valued at $67,568.58. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of the company. Aberdeen Asset Management PLC UK boosted its position in shares of MarketAxess Holdings by 56.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 69,101 shares of the company’s stock worth $6,188,000 after buying an additional 25,000 shares during the period. Mutual of America Capital Management LLC acquired a new position in shares of MarketAxess Holdings during the fourth quarter worth $2,794,000. US Bancorp DE boosted its position in shares of 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 period. RS Investment Management Co. LLC boosted its position in shares of 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 during the period. Finally, American International Group Inc. boosted its position in shares of MarketAxess Holdings by 249.1% in the fourth quarter. American International Group Inc. now owns 92,786 shares of the company’s stock worth $10,354,000 after buying an additional 66,206 shares during the period.
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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