The Brokerages Set MarketAxess Holdings Inc. (NASDAQ:MKTX) Price Target at $124.33

The Brokerages Set MarketAxess Holdings Inc. (NASDAQ:MKTX) Price Target at $124.33

MarketAxess Holdings Inc. (NASDAQ:MKTX) has received a consensus recommendation of “Hold” from the seven research firms that are presently covering the company. Three analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $124.33.

MKTX has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of MarketAxess Holdings from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research report on Thursday, September 15th. Raymond James Financial Inc. lowered shares of MarketAxess Holdings from an “outperform” rating to a “market perform” rating in a research report on Friday, July 15th. Citigroup Inc. lowered shares of MarketAxess Holdings to a “market perform” rating in a research report on Friday, July 15th. They noted that the move was a valuation call. William Blair initiated coverage on shares of MarketAxess Holdings in a research report on Monday, June 20th. They issued a “market perform” rating on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on shares of MarketAxess Holdings from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th.

Shares of MarketAxess Holdings (NASDAQ:MKTX) opened at 159.19 on Monday. The stock has a 50 day moving average price of $168.15 and a 200-day moving average price of $146.88. The company has a market capitalization of $5.99 billion, a PE ratio of 54.89 and a beta of 0.65. MarketAxess Holdings has a 12 month low of $86.19 and a 12 month high of $178.21.

MarketAxess Holdings (NASDAQ:MKTX) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.03. MarketAxess Holdings had a net margin of 32.52% and a return on equity of 27.14%. The company had revenue of $96.60 million for the quarter, compared to analyst estimates of $93.98 million. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. Analysts forecast that MarketAxess Holdings will post $3.22 EPS for the current year.

In other news, CEO Richard M. Mcvey sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $162.33, for a total transaction of $4,869,900.00. Following the transaction, the chief executive officer now directly owns 1,091,457 shares of the company’s stock, valued at $177,176,214.81. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Themelis sold 6,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $165.40, for a total transaction of $1,025,480.00. Following the transaction, the insider now directly owns 70,799 shares in the company, valued at $11,710,154.60. The disclosure for this sale can be found here. Insiders own 4.51% of the company’s stock.

Several institutional investors have recently modified their holdings of MKTX. Tower Research Capital LLC TRC bought a new position in shares of MarketAxess Holdings during the second quarter worth approximately $103,000. Cantab Capital Partners LLP bought a new position in shares of MarketAxess Holdings during the second quarter worth approximately $116,000. Daiwa Securities Group Inc. bought a new position in shares of MarketAxess Holdings during the second quarter worth approximately $160,000. Bank of Montreal Can bought a new position in shares of MarketAxess Holdings during the second quarter worth approximately $177,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of MarketAxess Holdings by 16.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,278 shares of the company’s stock worth $186,000 after buying an additional 179 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

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