MarketAxess (NASDAQ:MKTX) Sets New 1-Year Low at $232.55

MarketAxess Holdings Inc. (NASDAQ:MKTXGet Rating)’s share price hit a new 52-week low on Tuesday . The company traded as low as $232.55 and last traded at $233.09, with a volume of 919 shares traded. The stock had previously closed at $238.53.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MKTX. Morgan Stanley cut their price target on shares of MarketAxess from $338.00 to $325.00 and set an “equal weight” rating for the company in a report on Tuesday, July 19th. Jefferies Financial Group cut their price target on shares of MarketAxess from $315.00 to $300.00 and set a “hold” rating for the company in a report on Monday, June 27th. Rosenblatt Securities started coverage on shares of MarketAxess in a report on Wednesday, August 17th. They set a “sell” rating and a $231.00 price target for the company. Atlantic Securities raised their target price on shares of MarketAxess from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, August 19th. Finally, Piper Sandler lowered their price target on shares of MarketAxess from $300.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, July 1st. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $306.33.

MarketAxess Trading Down 0.6 %

The business has a 50-day simple moving average of $260.21 and a 200 day simple moving average of $278.68. The stock has a market cap of $8.82 billion, a P/E ratio of 36.74 and a beta of 0.61.

MarketAxess (NASDAQ:MKTXGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. MarketAxess had a return on equity of 23.55% and a net margin of 34.77%. The firm had revenue of $182.20 million for the quarter, compared to analyst estimates of $185.24 million. During the same quarter in the previous year, the company posted $1.77 EPS. The business’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts expect that MarketAxess Holdings Inc. will post 6.62 earnings per share for the current year.

MarketAxess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 3rd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, August 2nd. MarketAxess’s dividend payout ratio is 43.89%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantum Private Wealth LLC raised its stake in MarketAxess by 4.9% during the 1st quarter. Quantum Private Wealth LLC now owns 791 shares of the financial services provider’s stock worth $269,000 after buying an additional 37 shares during the period. FCF Advisors LLC raised its stake in MarketAxess by 2.7% during the 1st quarter. FCF Advisors LLC now owns 1,530 shares of the financial services provider’s stock worth $521,000 after buying an additional 40 shares during the period. Zions Bancorporation N.A. raised its stake in MarketAxess by 3.6% during the 2nd quarter. Zions Bancorporation N.A. now owns 1,208 shares of the financial services provider’s stock worth $309,000 after buying an additional 42 shares during the period. Riverview Trust Co raised its stake in MarketAxess by 18.8% during the 1st quarter. Riverview Trust Co now owns 272 shares of the financial services provider’s stock worth $93,000 after buying an additional 43 shares during the period. Finally, Marshall Financial Group LLC raised its stake in MarketAxess by 1.7% during the 1st quarter. Marshall Financial Group LLC now owns 2,522 shares of the financial services provider’s stock worth $858,000 after buying an additional 43 shares during the period. 95.62% of the stock is owned by institutional investors and hedge funds.

About MarketAxess

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MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed income securities.

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