MarketAxess (NASDAQ:MKTX) Hits New 52-Week Low – Here’s What Happened

MarketAxess Holdings Inc. (NASDAQ:MKTX) shares hit a new 52-week low on Tuesday . The stock traded as low as $151.80 and last traded at $154.89, with a volume of 373243 shares trading hands. The stock had previously closed at $152.87.

Analyst Ratings Changes

MKTX has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of MarketAxess from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, January 9th. Morgan Stanley lowered their target price on shares of MarketAxess from $204.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Weiss Ratings upgraded shares of MarketAxess from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Argus downgraded shares of MarketAxess from a “buy” rating to a “hold” rating in a research note on Tuesday, March 17th. Finally, Wall Street Zen upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $201.11.

MarketAxess Stock Performance

The stock has a market capitalization of $5.24 billion, a PE ratio of 22.35, a PEG ratio of 2.31 and a beta of 0.92. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average price of $172.71 and a 200-day moving average price of $172.07.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.10. MarketAxess had a return on equity of 20.88% and a net margin of 29.14%. Research analysts expect that MarketAxess Holdings Inc. will post 8.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. MUFG Securities EMEA plc purchased a new position in shares of MarketAxess during the second quarter worth $25,000. Geneos Wealth Management Inc. raised its holdings in shares of MarketAxess by 200.0% during the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 80 shares during the last quarter. Activest Wealth Management purchased a new position in shares of MarketAxess during the fourth quarter worth $28,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of MarketAxess during the third quarter worth $38,000. Finally, Stance Capital LLC purchased a new position in shares of MarketAxess during the third quarter worth $42,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

MarketAxess Company Profile

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.