MarketAxess (NASDAQ:MKTX) Hits New 12-Month Low - What's Next?
MarketAxess Holdings Inc. (NASDAQ:MKTX) reached a new 52-week low of $156.17 during trading, closing at $159.16. Analysts have mixed ratings, with five recommending a Buy, seven a Hold, and two a Sell. The average target price is $216.58. The company reported $2.00 EPS, exceeding estimates, with revenue up 11% year-over-year. Recent insider sales were noted, and hedge funds have adjusted their positions in MKTX. MarketAxess has a market cap of $5.95 billion and a PE ratio of 26.79.
MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $156.17 and last traded at $159.16, with a volume of 680855 shares changing hands. The stock had previously closed at $160.06.
Analyst Ratings Changes
- Capitalize on Volatility: 3 Finance Stocks Thriving in 2025
MKTX has been the topic of several analyst reports. Wall Street Zen raised MarketAxess from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of MarketAxess in a research report on Wednesday, October 8th. Argus raised MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 target price on the stock in a research report on Monday, August 25th. Barclays cut their target price on MarketAxess from $200.00 to $186.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group cut their target price on MarketAxess from $217.00 to $208.00 and set a "hold" rating on the stock in a research report on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, MarketAxess currently has an average rating of "Hold" and a consensus price target of $216.58.
Get Our Latest Research Report on MarketAxess
MarketAxess Stock Down 0.6%
- Morgan Stanley: 3 Financial Stocks That Will Thrive in Volatility
The company has a 50-day simple moving average of $175.93 and a two-hundred day simple moving average of $200.52. The firm has a market cap of $5.95 billion, a PE ratio of 26.79, a PEG ratio of 6.44 and a beta of 0.89.
MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.06. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The business had revenue of $219.46 million for the quarter, compared to analysts' expectations of $218.05 million. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The business's revenue was up 11.0% on a year-over-year basis. As a group, equities analysts predict that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.
Insider Buying and Selling at MarketAxess
- Tradeweb is a disruptive pure play on financial market liquidity
In other MarketAxess news, CRO Kevin M. Mcpherson sold 1,494 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $185.32, for a total value of $276,868.08. Following the sale, the executive directly owned 67,681 shares in the company, valued at $12,542,642.92. The trade was a 2.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen P. Casper sold 1,600 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $186.59, for a total value of $298,544.00. Following the completion of the sale, the director owned 43,208 shares in the company, valued at approximately $8,062,180.72. The trade was a 3.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.65% of the stock is currently owned by insiders.
Institutional Trading of MarketAxess
Several hedge funds have recently made changes to their positions in MKTX. DAVENPORT & Co LLC raised its stake in shares of MarketAxess by 8.1% in the first quarter. DAVENPORT & Co LLC now owns 1,174 shares of the financial services provider's stock valued at $254,000 after buying an additional 88 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of MarketAxess in the first quarter valued at $6,327,000. IFM Investors Pty Ltd raised its stake in shares of MarketAxess by 11.0% in the first quarter. IFM Investors Pty Ltd now owns 7,071 shares of the financial services provider's stock valued at $1,530,000 after buying an additional 703 shares during the period. World Investment Advisors bought a new stake in shares of MarketAxess in the first quarter valued at $397,000. Finally, M&T Bank Corp raised its stake in shares of MarketAxess by 20.7% in the first quarter. M&T Bank Corp now owns 1,756 shares of the financial services provider's stock valued at $380,000 after buying an additional 301 shares during the period. 99.01% of the stock is currently owned by institutional investors.
About MarketAxess
(Get Free Report)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.
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