According to Zacks, “MarketAxess Holdings’ shares have outperformed its industry in a year's time. Its revenues have been consistently rising over the past several years on the back of a steady increase in commission. Its growth strategies such as acquisitions and alliances have also contributed to its top-line improvement. Its product suite of the highly demanded U.S. high-grade floating rate and other credit bonds are likely to broaden its scope for volume growth. However, rising costs remain a concern, which are expected to rise over the coming quarters given its ongoing investments in several areas including trading platform, new protocols and infrastructure as well as headcount additions.”
MKTX has been the subject of a number of other research reports. BidaskClub raised MarketAxess from a buy rating to a strong-buy rating in a research report on Wednesday, April 10th. Buckingham Research began coverage on MarketAxess in a research report on Thursday, January 10th. They set a neutral rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $224.67.
MKTX opened at $262.92 on Friday. The firm has a market cap of $9.79 billion, a P/E ratio of 57.53, a PEG ratio of 10.16 and a beta of 0.20. MarketAxess has a 1 year low of $172.09 and a 1 year high of $264.65.
MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.06. The firm had revenue of $112.44 million during the quarter, compared to analysts’ expectations of $112.37 million. MarketAxess had a return on equity of 30.31% and a net margin of 39.69%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. Equities analysts forecast that MarketAxess will post 5.12 EPS for the current year.
In other MarketAxess news, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $220.94, for a total value of $4,418,800.00. Following the completion of the sale, the chief executive officer now owns 1,023,640 shares of the company’s stock, valued at $226,163,021.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Antonio L. Delise sold 8,000 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $231.99, for a total value of $1,855,920.00. Following the completion of the sale, the chief financial officer now directly owns 36,901 shares of the company’s stock, valued at approximately $8,560,662.99. The disclosure for this sale can be found here. Insiders sold 31,187 shares of company stock valued at $6,961,901 in the last ninety days. Insiders own 3.52% of the company’s stock.
Several large investors have recently made changes to their positions in MKTX. We Are One Seven LLC acquired a new stake in shares of MarketAxess in the fourth quarter worth about $26,000. Executive Wealth Management LLC acquired a new position in shares of MarketAxess during the 4th quarter worth about $27,000. Berman Capital Advisors LLC acquired a new position in shares of MarketAxess during the 4th quarter worth about $30,000. Enlightenment Research LLC acquired a new position in shares of MarketAxess during the 4th quarter worth about $42,000. Finally, Pearl River Capital LLC acquired a new position in shares of MarketAxess during the 4th quarter worth about $43,000. 99.19% of the stock is owned by institutional investors.
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.
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