MarketAxess Holdings Inc. (NASDAQ:MKTX – Get 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 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.
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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