MarketAxess (MKTX) Upgraded to Strong-Buy at BidaskClub

MarketAxess (NASDAQ:MKTX) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, April 10th, BidAskClub reports.

Several other research firms have also weighed in on MKTX. Zacks Investment Research lowered MarketAxess from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Buckingham Research assumed coverage on MarketAxess in a research note on Thursday, January 10th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. MarketAxess presently has an average rating of “Hold” and an average target price of $232.33.

Shares of MKTX traded up $3.14 during trading hours on Wednesday, hitting $286.05. 249,952 shares of the company were exchanged, compared to its average volume of 264,972. The firm has a market cap of $10.49 billion, a P/E ratio of 62.59, a price-to-earnings-growth ratio of 10.93 and a beta of 0.24. MarketAxess has a fifty-two week low of $172.09 and a fifty-two week high of $288.45.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, April 24th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.02. The company had revenue of $124.49 million for the quarter, compared to analyst estimates of $125.43 million. MarketAxess had a return on equity of 29.88% and a net margin of 39.84%. MarketAxess’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 EPS. As a group, equities analysts anticipate that MarketAxess will post 5.1 EPS for the current year.

In other news, CFO Antonio L. Delise sold 8,000 shares of MarketAxess stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $231.99, for a total transaction of $1,855,920.00. Following the sale, the chief financial officer now directly owns 36,901 shares of the company’s stock, valued at $8,560,662.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard M. Mcvey sold 20,000 shares of MarketAxess stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $220.94, for a total value of $4,418,800.00. Following the sale, the chief executive officer now directly owns 1,023,640 shares in the company, valued at $226,163,021.60. The disclosure for this sale can be found here. Insiders sold 38,676 shares of company stock worth $9,023,854 over the last ninety days. 3.52% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. We Are One Seven LLC acquired a new stake in shares of MarketAxess during the fourth quarter valued at about $26,000. Executive Wealth Management LLC bought a new position in shares of MarketAxess during the fourth quarter worth about $27,000. Berman Capital Advisors LLC bought a new position in shares of MarketAxess during the fourth quarter worth about $30,000. Enlightenment Research LLC bought a new position in shares of MarketAxess during the fourth quarter worth about $42,000. Finally, Pearl River Capital LLC bought a new position in shares of MarketAxess during the fourth quarter worth about $43,000. 99.19% of the stock is currently owned by hedge funds and other institutional investors.

About MarketAxess

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.

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Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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