Key Points
- MarketAxess director William Frank Jr. Cruger sold 6,164 shares at an average price of $163.20, generating approximately $1.01 million. The sale reduced his position by 60.45% to 4,033 shares.
- MarketAxess reported quarterly earnings of $1.95 per share, beating estimates of $1.85, while revenue of $218.41 million slightly exceeded expectations but declined 0.5% year over year. The company also pays a quarterly dividend of $0.78 per share, yielding about 1.9%.
- Analyst sentiment remains cautious, with one Buy, eleven Hold and one Sell rating; the average price target is $156.10 versus the stock’s reported $163.00 price.
MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) General Counsel Scott Pintoff sold 100 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $163.32, for a total transaction of $16,332.00. Following the completion of the sale, the general counsel directly owned 11,486 shares in the company, valued at approximately $1,875,893.52. This trade represents a 0.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Scott Pintoff also recently made the following trade(s):
- On Monday, August 10th, Scott Pintoff sold 100 shares of MarketAxess stock. The stock was sold at an average price of $162.60, for a total transaction of $16,260.00.
- On Friday, July 10th, Scott Pintoff sold 100 shares of MarketAxess stock. The shares were sold at an average price of $115.12, for a total transaction of $11,512.00.
MarketAxess Price Performance
MarketAxess stock opened at $163.00 on Friday. The stock has a market cap of $5.74 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 2.08 and a beta of 0.83. The company has a fifty day simple moving average of $145.93 and a 200-day simple moving average of $149.79. MarketAxess Holdings Inc. has a 12-month low of $108.75 and a 12-month high of $195.96. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.09.
MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.85 by $0.10. The firm had revenue of $218.41 million for the quarter, compared to analyst estimates of $216.70 million. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.MarketAxess's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 earnings per share. Equities analysts expect that MarketAxess Holdings Inc. will post 8.06 EPS for the current fiscal year.
MarketAxess Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a dividend of $0.78 per share. The ex-dividend date was Wednesday, August 19th. This represents a $3.12 annualized dividend and a yield of 1.9%. MarketAxess's payout ratio is presently 36.79%.
Hedge Funds Weigh In On MarketAxess
Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in MarketAxess by 10,925.6% during the 2nd quarter. California State Teachers Retirement System now owns 4,816,856 shares of the financial services provider's stock worth $546,665,000 after acquiring an additional 4,773,168 shares during the period. BlackRock Inc. acquired a new position in shares of MarketAxess in the second quarter valued at approximately $453,941,000. Primecap Management Co. CA purchased a new stake in shares of MarketAxess during the second quarter worth approximately $397,772,000. AQR Capital Management LLC raised its stake in shares of MarketAxess by 169.0% during the fourth quarter. AQR Capital Management LLC now owns 2,558,097 shares of the financial services provider's stock worth $463,655,000 after purchasing an additional 1,607,009 shares during the last quarter. Finally, North Reef Capital Management LP lifted its holdings in shares of MarketAxess by 16.5% during the first quarter. North Reef Capital Management LP now owns 1,875,000 shares of the financial services provider's stock worth $309,338,000 after purchasing an additional 265,670 shares during the period. Institutional investors and hedge funds own 99.01% of the company's stock.
Analyst Ratings Changes
Several brokerages have commented on MKTX. Rothschild & Co Redburn reiterated a "neutral" rating and issued a $134.00 price target (down from $189.00) on shares of MarketAxess in a research note on Thursday, June 11th. Piper Sandler lowered their target price on shares of MarketAxess from $175.00 to $128.00 and set a "neutral" rating for the company in a report on Wednesday, July 15th. William Blair downgraded shares of MarketAxess from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. Morgan Stanley cut their price target on shares of MarketAxess from $195.00 to $129.00 and set an "equal weight" rating on the stock in a research note on Friday, July 10th. Finally, Barclays upped their price objective on shares of MarketAxess from $132.00 to $167.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, MarketAxess currently has a consensus rating of "Hold" and a consensus target price of $156.10.
Check Out Our Latest Research Report on MKTX
MarketAxess Company Profile
(
Get Free Report)
MarketAxess Holdings Inc operates an electronic trading platform for institutional fixed-income markets. Through its technology, investors and dealers can trade corporate bonds, government securities, emerging-market debt and other credit products in an electronic environment designed to improve access, execution and transparency.
The company's offerings include its Open Trading marketplace, which connects a broad network of institutional participants, as well as a range of trading protocols that support different liquidity and execution needs.
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