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

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) have been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $253.30.

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of MarketAxess from $237.00 to $268.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Citigroup lifted their target price on shares of MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Bank of America cut their price target on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research note on Thursday, October 3rd. Piper Sandler lifted their price objective on MarketAxess from $235.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods increased their target price on MarketAxess from $222.00 to $225.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th.

MarketAxess Stock Down 1.4 %

NASDAQ MKTX opened at $289.42 on Friday. The stock’s 50 day simple moving average is $264.54 and its 200 day simple moving average is $229.70. MarketAxess has a one year low of $192.42 and a one year high of $297.97. The firm has a market cap of $10.93 billion, a PE ratio of 41.70, a price-to-earnings-growth ratio of 6.42 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.91 and a quick ratio of 2.91.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The firm had revenue of $197.70 million for the quarter, compared to analyst estimates of $198.07 million. During the same quarter in the prior year, the firm earned $1.63 EPS. The company’s revenue was up 9.9% on a year-over-year basis. As a group, sell-side analysts forecast that MarketAxess will post 7.26 earnings per share for the current fiscal year.

MarketAxess announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 6th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at MarketAxess

In other news, insider Christophe Pierre Danie Roupie sold 617 shares of MarketAxess stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $231.63, for a total value of $142,915.71. Following the completion of the sale, the insider now directly owns 7,409 shares in the company, valued at approximately $1,716,146.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.66% of the company’s stock.

Hedge Funds Weigh In On MarketAxess

Several hedge funds have recently bought and sold shares of the company. Kingsview Wealth Management LLC acquired a new stake in shares of MarketAxess during the 1st quarter worth approximately $7,866,000. SG Americas Securities LLC boosted its holdings in shares of MarketAxess by 174.2% in the 1st quarter. SG Americas Securities LLC now owns 6,743 shares of the financial services provider’s stock valued at $1,478,000 after purchasing an additional 4,284 shares in the last quarter. Choate Investment Advisors bought a new position in shares of MarketAxess in the 1st quarter valued at $752,000. Entropy Technologies LP bought a new position in shares of MarketAxess in the 1st quarter valued at $882,000. Finally, ProShare Advisors LLC lifted its position in shares of MarketAxess by 48.4% during the 1st quarter. ProShare Advisors LLC now owns 11,615 shares of the financial services provider’s stock worth $2,547,000 after buying an additional 3,787 shares during the last quarter. 99.01% of the stock is owned by institutional investors.

MarketAxess Company Profile

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.