MarketAxess (NASDAQ:MKTX) Sets New 52-Week Low at $232.55

MarketAxess Holdings Inc. (NASDAQ:MKTXGet Rating)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $232.55 and last traded at $233.09, with a volume of 919 shares trading hands. The stock had previously closed at $238.53.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MKTX shares. Deutsche Bank Aktiengesellschaft boosted their price objective on MarketAxess from $286.00 to $292.00 and gave the company a “hold” rating in a research note on Friday, August 12th. Piper Sandler dropped their price target on MarketAxess from $300.00 to $285.00 and set a “neutral” rating on the stock in a research note on Friday, July 1st. Credit Suisse Group dropped their price target on MarketAxess from $305.00 to $288.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 7th. Jefferies Financial Group dropped their price target on MarketAxess from $315.00 to $300.00 and set a “hold” rating on the stock in a research note on Monday, June 27th. Finally, Rosenblatt Securities initiated coverage on MarketAxess in a research note on Wednesday, August 17th. They set a “sell” rating and a $231.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $306.33.

MarketAxess Stock Down 0.6 %

The stock has a market capitalization of $8.82 billion, a PE ratio of 36.74 and a beta of 0.61. The firm has a 50 day moving average price of $260.21 and a 200 day moving average price of $278.68.

MarketAxess (NASDAQ:MKTXGet Rating) last issued its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. The firm had revenue of $182.20 million during the quarter, compared to the consensus estimate of $185.24 million. MarketAxess had a return on equity of 23.55% and a net margin of 34.77%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.77 earnings per share. On average, equities analysts forecast that MarketAxess Holdings Inc. will post 6.62 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 3rd were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Tuesday, August 2nd. MarketAxess’s dividend payout ratio is presently 43.89%.

Hedge Funds Weigh In On MarketAxess

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of MarketAxess by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,184,298 shares of the financial services provider’s stock valued at $1,423,499,000 after acquiring an additional 25,208 shares in the last quarter. BlackRock Inc. raised its stake in shares of MarketAxess by 1.6% in the fourth quarter. BlackRock Inc. now owns 3,563,993 shares of the financial services provider’s stock valued at $1,465,763,000 after buying an additional 54,516 shares during the period. GUARDCAP ASSET MANAGEMENT Ltd grew its stake in shares of MarketAxess by 34.2% during the 2nd quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 1,961,561 shares of the financial services provider’s stock worth $502,179,000 after acquiring an additional 499,907 shares during the period. State Street Corp increased its holdings in MarketAxess by 0.7% in the 1st quarter. State Street Corp now owns 1,868,716 shares of the financial services provider’s stock worth $635,737,000 after acquiring an additional 13,367 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in MarketAxess by 4.0% in the 1st quarter. Royal Bank of Canada now owns 1,207,993 shares of the financial services provider’s stock valued at $410,959,000 after acquiring an additional 46,109 shares during the period. 95.62% of the stock is owned by institutional investors.

About MarketAxess

(Get Rating)

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed income securities.

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