MarketAxess (NASDAQ:MKTX) Reaches New 52-Week Low at $199.34

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) hit a new 52-week low during trading on Thursday . The company traded as low as $199.34 and last traded at $201.32, with a volume of 13961 shares trading hands. The stock had previously closed at $201.93.

Analyst Ratings Changes

A number of brokerages have recently commented on MKTX. The Goldman Sachs Group cut their price target on MarketAxess from $263.00 to $225.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. Bank of America assumed coverage on MarketAxess in a research report on Wednesday, April 10th. They set an “underperform” rating and a $199.00 price objective for the company. Morgan Stanley raised their price objective on MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Piper Sandler lowered their price objective on MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Rosenblatt Securities lowered their price objective on MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $252.80.

MarketAxess Price Performance

The firm has a market capitalization of $7.64 billion, a P/E ratio of 29.48, a P/E/G ratio of 4.24 and a beta of 0.98. The stock has a fifty day simple moving average of $217.24 and a two-hundred day simple moving average of $237.61.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.11. The business had revenue of $197.20 million during the quarter, compared to the consensus estimate of $196.70 million. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 earnings per share. As a group, sell-side analysts expect that MarketAxess Holdings Inc. will post 7.28 EPS for the current fiscal year.

Insider Activity

In other news, CRO Kevin M. Mcpherson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $221.26, for a total transaction of $442,520.00. Following the completion of the sale, the executive now owns 70,092 shares in the company, valued at $15,508,555.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On MarketAxess

Hedge funds and other institutional investors have recently modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of MarketAxess by 316.1% during the fourth quarter. Nordea Investment Management AB now owns 11,546 shares of the financial services provider’s stock valued at $3,367,000 after buying an additional 8,771 shares during the last quarter. Norris Perne & French LLP MI purchased a new position in shares of MarketAxess during the fourth quarter valued at approximately $9,715,000. Rhumbline Advisers boosted its position in shares of MarketAxess by 3.4% during the third quarter. Rhumbline Advisers now owns 91,847 shares of the financial services provider’s stock valued at $19,622,000 after buying an additional 3,024 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of MarketAxess by 28,547.8% during the fourth quarter. International Assets Investment Management LLC now owns 13,178 shares of the financial services provider’s stock valued at $3,859,000 after buying an additional 13,132 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of MarketAxess by 2.0% during the third quarter. Royal Bank of Canada now owns 1,705,958 shares of the financial services provider’s stock valued at $364,462,000 after buying an additional 33,288 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.

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.