Buckingham Research Begins Coverage on MarketAxess (MKTX)

Buckingham Research began coverage on shares of MarketAxess (NASDAQ:MKTX) in a research report report published on Thursday, MarketBeat Ratings reports. The brokerage issued a neutral rating on the financial services provider’s stock.

Several other research firms have also weighed in on MKTX. BidaskClub raised MarketAxess from a hold rating to a buy rating in a research report on Tuesday, October 23rd. Barclays reissued a hold rating and issued a $198.00 price objective on shares of MarketAxess in a research report on Friday, October 12th. Goldman Sachs Group initiated coverage on MarketAxess in a research report on Monday, November 5th. They issued a sell rating for the company. Finally, Zacks Investment Research raised MarketAxess from a sell rating to a hold rating in a research report on Tuesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. MarketAxess currently has a consensus rating of Hold and an average price target of $215.50.

Shares of NASDAQ:MKTX opened at $212.59 on Thursday. The firm has a market cap of $8.01 billion, a P/E ratio of 54.51, a P/E/G ratio of 8.26 and a beta of 0.18. MarketAxess has a 12-month low of $172.09 and a 12-month high of $231.33.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.09. The business had revenue of $101.44 million during the quarter, compared to analyst estimates of $101.19 million. MarketAxess had a return on equity of 29.40% and a net margin of 37.97%. MarketAxess’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. On average, equities research analysts anticipate that MarketAxess will post 4.51 earnings per share for the current year.

In related news, insider Kevin M. Mcpherson sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $216.89, for a total value of $542,225.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard M. Mcvey sold 23,842 shares of the business’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $211.93, for a total value of $5,052,835.06. Following the completion of the sale, the chief executive officer now directly owns 1,054,986 shares of the company’s stock, valued at $223,583,182.98. The disclosure for this sale can be found here. Company insiders own 3.52% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Paradigm Asset Management Co. LLC increased its position in MarketAxess by 11.8% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 950 shares of the financial services provider’s stock valued at $170,000 after buying an additional 100 shares in the last quarter. Retirement Systems of Alabama increased its position in MarketAxess by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 58,541 shares of the financial services provider’s stock valued at $12,370,000 after buying an additional 188 shares in the last quarter. Roosevelt Investment Group Inc. increased its position in MarketAxess by 0.4% in the 3rd quarter. Roosevelt Investment Group Inc. now owns 68,183 shares of the financial services provider’s stock valued at $12,170,000 after buying an additional 241 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in MarketAxess by 2.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 9,450 shares of the financial services provider’s stock valued at $1,686,000 after purchasing an additional 262 shares during the last quarter. Finally, Atria Investments LLC boosted its stake in MarketAxess by 25.6% during the 3rd quarter. Atria Investments LLC now owns 1,358 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 277 shares during the last quarter. 99.17% of the stock is owned by institutional investors and hedge funds.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer the access to global liquidity in U.S.

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Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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