MarketAxess (NASDAQ:MKTX) Sets New 12-Month Low – What’s Next?
by Jessica Moore · The Cerbat GemMarketAxess Holdings Inc. (NASDAQ:MKTX – Get Free Report)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $145.25 and last traded at $146.1050, with a volume of 37972 shares traded. The stock had previously closed at $147.53.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on MKTX. UBS Group lowered their price target on MarketAxess from $225.00 to $215.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley reduced their price objective on MarketAxess from $204.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Argus cut MarketAxess from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. Barclays dropped their price target on MarketAxess from $189.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Piper Sandler decreased their price objective on MarketAxess from $180.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $190.88.
Read Our Latest Report on MKTX
MarketAxess Price Performance
The company has a debt-to-equity ratio of 0.19, a current ratio of 2.17 and a quick ratio of 2.17. The firm has a fifty day moving average of $169.66 and a two-hundred day moving average of $171.36. The stock has a market capitalization of $4.95 billion, a P/E ratio of 16.46, a P/E/G ratio of 2.41 and a beta of 0.92.
MarketAxess (NASDAQ:MKTX – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.10. The firm had revenue of $233.38 million during the quarter, compared to the consensus estimate of $231.91 million. MarketAxess had a return on equity of 22.28% and a net margin of 35.53%.The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.87 earnings per share. On average, analysts predict that MarketAxess Holdings Inc. will post 8.1 EPS for the current year.
MarketAxess Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, May 20th. MarketAxess’s payout ratio is presently 36.88%.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the stock. Primecap Management Co. CA raised its position in shares of MarketAxess by 42.4% in the 4th quarter. Primecap Management Co. CA now owns 3,175,425 shares of the financial services provider’s stock worth $575,546,000 after acquiring an additional 944,830 shares in the last quarter. AQR Capital Management LLC raised its position in shares of MarketAxess by 169.0% in the 4th quarter. AQR Capital Management LLC now owns 2,558,097 shares of the financial services provider’s stock worth $463,655,000 after acquiring an additional 1,607,009 shares in the last quarter. Van ECK Associates Corp raised its position in shares of MarketAxess by 6.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,948,633 shares of the financial services provider’s stock worth $339,549,000 after acquiring an additional 119,036 shares in the last quarter. North Reef Capital Management LP raised its position in shares of MarketAxess by 76.6% in the 4th quarter. North Reef Capital Management LP now owns 1,609,330 shares of the financial services provider’s stock worth $291,691,000 after acquiring an additional 697,972 shares in the last quarter. Finally, State Street Corp raised its position in shares of MarketAxess by 4.6% in the 2nd quarter. State Street Corp now owns 1,532,696 shares of the financial services provider’s stock worth $342,312,000 after acquiring an additional 67,290 shares in the last quarter. 99.01% of the stock is owned by institutional investors.
MarketAxess Company Profile
MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.
In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.