MarketAxess Holdings Inc. (MKTX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) have received a consensus recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $202.86.

MKTX has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of MarketAxess from a “hold” rating to a “strong-buy” rating and set a $238.00 price objective for the company in a research report on Monday, January 8th. Goldman Sachs Group lowered shares of MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 price objective for the company. in a research report on Monday, January 8th. Rosenblatt Securities initiated coverage on shares of MarketAxess in a research report on Thursday, December 14th. They set a “neutral” rating and a $190.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $215.00 price objective on shares of MarketAxess in a research report on Friday, December 22nd.

In related news, insider Nicholas Themelis sold 4,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $176.40, for a total value of $705,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen P. Casper sold 2,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $195.84, for a total transaction of $391,680.00. The disclosure for this sale can be found here. Insiders sold 50,225 shares of company stock valued at $8,955,630 in the last three months. Company insiders own 4.02% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. D.A. Davidson & CO. raised its position in MarketAxess by 0.5% in the second quarter. D.A. Davidson & CO. now owns 1,380 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 7 shares in the last quarter. Coldstream Capital Management Inc. raised its position in MarketAxess by 2.5% in the second quarter. Coldstream Capital Management Inc. now owns 1,610 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 40 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in MarketAxess by 0.4% in the second quarter. Parametric Portfolio Associates LLC now owns 36,011 shares of the financial services provider’s stock worth $7,242,000 after purchasing an additional 134 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in MarketAxess by 9.1% in the second quarter. Cubist Systematic Strategies LLC now owns 1,624 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 135 shares in the last quarter. Finally, Suntrust Banks Inc. raised its position in MarketAxess by 3.2% in the second quarter. Suntrust Banks Inc. now owns 4,438 shares of the financial services provider’s stock worth $892,000 after purchasing an additional 136 shares in the last quarter. 91.65% of the stock is owned by hedge funds and other institutional investors.

MarketAxess (MKTX) opened at $203.72 on Monday. The company has a market cap of $7,650.00, a PE ratio of 52.37 and a beta of 0.70. MarketAxess has a 52-week low of $153.95 and a 52-week high of $211.06.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.90. The business had revenue of $96.70 million during the quarter, compared to analyst estimates of $96.35 million. MarketAxess had a net margin of 37.67% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. equities research analysts predict that MarketAxess will post 3.93 earnings per share for the current fiscal year.

MarketAxess declared that its board has initiated a stock buyback program on Wednesday, October 25th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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MarketAxess Company Profile

MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.

Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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