MarketAxess (NASDAQ:MKTX - Get Free Report) had its price objective lowered by investment analysts at Morgan Stanley from $274.00 to $253.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Morgan Stanley's price target would suggest a potential upside of 47.82% from the stock's previous close.
MKTX has been the subject of a number of other research reports. Wall Street Zen raised shares of MarketAxess from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Argus upgraded MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 price target for the company in a report on Monday, August 25th. UBS Group lowered their target price on MarketAxess from $295.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Jefferies Financial Group lowered their target price on MarketAxess from $217.00 to $208.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Finally, Barclays lowered their price target on shares of MarketAxess from $237.00 to $200.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $226.18.
View Our Latest Stock Report on MarketAxess
MarketAxess Price Performance
NASDAQ:MKTX traded down $3.10 during trading hours on Wednesday, reaching $171.16. 306,036 shares of the company were exchanged, compared to its average volume of 651,816. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 3.44 and a beta of 0.88. MarketAxess has a 52-week low of $170.31 and a 52-week high of $296.68. The stock has a 50 day simple moving average of $189.33 and a 200 day simple moving average of $208.39.
MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.06. The business had revenue of $219.46 million for the quarter, compared to analyst estimates of $218.05 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The business's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $1.72 EPS. On average, analysts predict that MarketAxess will post 7.79 EPS for the current fiscal year.
Insider Buying and Selling
In other MarketAxess news, CRO Kevin M. Mcpherson sold 1,494 shares of MarketAxess stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $185.32, for a total value of $276,868.08. Following the completion of the sale, the executive directly owned 67,681 shares in the company, valued at $12,542,642.92. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen P. Casper sold 1,600 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $186.59, for a total value of $298,544.00. Following the completion of the sale, the director directly owned 43,208 shares of the company's stock, valued at $8,062,180.72. This represents a 3.57% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.
Hedge Funds Weigh In On MarketAxess
Several large investors have recently made changes to their positions in MKTX. MUFG Securities EMEA plc acquired a new position in shares of MarketAxess during the second quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its stake in MarketAxess by 200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC raised its stake in MarketAxess by 992.9% during the 2nd quarter. True Wealth Design LLC now owns 153 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 139 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in MarketAxess by 49.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 54 shares during the last quarter. Finally, Harbor Investment Advisory LLC acquired a new position in MarketAxess during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 99.01% of the company's stock.
About MarketAxess
(
Get Free Report)
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.
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