MarketAxess Holdings Inc. (NASDAQ:MKTX) Given Average Rating of “Hold” by Brokerages

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) have been assigned an average rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $241.00.

A number of brokerages have issued reports on MKTX. Keefe, Bruyette & Woods reduced their target price on MarketAxess from $235.00 to $230.00 and set a “market perform” rating on the stock in a report on Wednesday, May 8th. Piper Sandler reduced their price target on shares of MarketAxess from $230.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Barclays lowered their price objective on shares of MarketAxess from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. StockNews.com cut MarketAxess from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley raised their price target on MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th.

MarketAxess Stock Up 0.4 %

Shares of MKTX stock opened at $224.02 on Wednesday. MarketAxess has a 12 month low of $192.42 and a 12 month high of $297.97. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 5.99 and a beta of 1.03. The stock has a 50-day moving average price of $206.66 and a 200 day moving average price of $216.49.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.85 by $0.07. MarketAxess had a net margin of 33.83% and a return on equity of 20.82%. The company had revenue of $210.30 million during the quarter, compared to analysts’ expectations of $212.99 million. During the same quarter in the previous year, the company earned $1.96 EPS. MarketAxess’s revenue was up 3.5% on a year-over-year basis. Sell-side analysts predict that MarketAxess will post 7 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Tuesday, May 21st. MarketAxess’s dividend payout ratio (DPR) is currently 43.47%.

Insider Activity at MarketAxess

In other MarketAxess news, Director Stephen P. Casper sold 500 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $199.48, for a total transaction of $99,740.00. Following the transaction, the director now owns 10,201 shares of the company’s stock, valued at approximately $2,034,895.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On MarketAxess

A number of institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in shares of MarketAxess by 347.6% in the 4th quarter. Allworth Financial LP now owns 94 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 73 shares during the period. Parallel Advisors LLC increased its position in MarketAxess by 155.8% during the fourth quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider’s stock worth $32,000 after buying an additional 67 shares during the last quarter. Venturi Wealth Management LLC raised its stake in MarketAxess by 1,030.8% in the first quarter. Venturi Wealth Management LLC now owns 147 shares of the financial services provider’s stock valued at $32,000 after buying an additional 134 shares during the period. Principal Securities Inc. acquired a new stake in shares of MarketAxess in the fourth quarter valued at approximately $47,000. Finally, CVA Family Office LLC bought a new position in shares of MarketAxess during the 4th quarter worth approximately $50,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

About MarketAxess

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.