MarketAxess (NASDAQ:MKTX) Reaches New 52-Week Low at $199.34

MarketAxess Holdings Inc. (NASDAQ:MKTX) hit a new 52-week low during trading on Thursday . The stock traded as low as $199.34 and last traded at $201.32, with a volume of 13961 shares traded. The stock had previously closed at $201.93.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Rosenblatt Securities reduced their target price on shares of MarketAxess from $229.00 to $210.00 and set a “sell” rating on the stock in a research report on Thursday, February 1st. Piper Sandler reduced their target price on shares of MarketAxess from $250.00 to $237.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Bank of America assumed coverage on shares of MarketAxess in a research report on Wednesday, April 10th. They issued an “underperform” rating and a $199.00 target price on the stock. Barclays reduced their target price on shares of MarketAxess from $239.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Finally, Morgan Stanley upped their target price on shares of MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MarketAxess presently has an average rating of “Hold” and an average target price of $252.80.

MarketAxess Stock Performance

The company’s 50-day moving average is $217.24 and its 200 day moving average is $237.61. The company has a market capitalization of $7.64 billion, a PE ratio of 29.48, a P/E/G ratio of 4.24 and a beta of 0.98.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.11. The firm had revenue of $197.20 million for the quarter, compared to the consensus estimate of $196.70 million. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 EPS. On average, analysts forecast that MarketAxess Holdings Inc. will post 7.28 EPS for the current fiscal year.

Insider Activity

In other news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $221.26, for a total transaction of $442,520.00. Following the sale, the executive now owns 70,092 shares of the company’s stock, valued at approximately $15,508,555.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On MarketAxess

Institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB lifted its stake in shares of MarketAxess by 316.1% in the 4th quarter. Nordea Investment Management AB now owns 11,546 shares of the financial services provider’s stock worth $3,367,000 after purchasing an additional 8,771 shares during the period. Norris Perne & French LLP MI bought a new position in shares of MarketAxess in the 4th quarter worth approximately $9,715,000. Rhumbline Advisers lifted its stake in shares of MarketAxess by 3.4% in the 3rd quarter. Rhumbline Advisers now owns 91,847 shares of the financial services provider’s stock worth $19,622,000 after purchasing an additional 3,024 shares during the period. International Assets Investment Management LLC lifted its stake in shares of MarketAxess by 28,547.8% in the 4th quarter. International Assets Investment Management LLC now owns 13,178 shares of the financial services provider’s stock worth $3,859,000 after purchasing an additional 13,132 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of MarketAxess by 2.0% in the 3rd quarter. Royal Bank of Canada now owns 1,705,958 shares of the financial services provider’s stock worth $364,462,000 after purchasing an additional 33,288 shares during the period. Institutional investors own 99.01% of the company’s stock.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.