MarketAxess Holdings Inc. (MKTX) Sees Unusually-High Trading Volume
Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) saw strong trading volume on Tuesday . 173,013 shares traded hands during trading, a decline of 12% from the previous session’s volume of 196,963 shares.The stock last traded at $167.40 and had previously closed at $167.81.
Several equities research analysts have recently issued reports on the stock. Credit Suisse Group AG reiterated a “sell” rating and set a $106.00 price objective on shares of MarketAxess Holdings in a research report on Friday, July 29th. Keefe, Bruyette & Woods lifted their price objective on shares of MarketAxess Holdings from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of MarketAxess Holdings from a “hold” rating to a “strong-buy” rating and set a $172.00 price objective on the stock in a research report on Tuesday, July 19th. Raymond James Financial Inc. cut shares of MarketAxess Holdings from an “outperform” rating to a “market perform” rating in a research report on Friday, July 15th. Finally, Citigroup Inc. cut shares of MarketAxess Holdings to a “market perform” rating in a research 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 given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $136.25.
The firm has a market capitalization of $6.36 billion and a PE ratio of 58.26. The firm’s 50-day moving average price is $159.87 and its 200-day moving average price is $137.73.
MarketAxess Holdings (NASDAQ:MKTX) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.03. The business earned $96.60 million during the quarter, compared to analysts’ expectations of $93.98 million. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. On average, equities research analysts predict that MarketAxess Holdings Inc. will post $3.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Thursday, August 11th were paid a $0.26 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.62%.
In related news, CEO Richard M. Mcvey sold 30,000 shares of MarketAxess Holdings stock in a transaction that occurred on Monday, August 8th. The stock was 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 $177,176,214.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Antonio L. Delise sold 10,000 shares of MarketAxess Holdings stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $166.79, for a total value of $1,667,900.00. Following the completion of the sale, the chief financial officer now owns 59,494 shares in the company, valued at $9,923,004.26. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in MarketAxess Holdings stock. Employees Retirement System of Texas purchased a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) during the fourth quarter, according to its most recent disclosure with the SEC. The fund purchased 12,000 shares of the company’s stock, valued at approximately $1,339,000.
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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