Keefe, Bruyette & Woods Has Lowered Expectations for MarketAxess (NASDAQ:MKTX) Stock Price

MarketAxess (NASDAQ:MKTX) had its price objective cut by equities research analysts at Keefe, Bruyette & Woods from $255.00 to $251.00 in a report released on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 15.87% from the stock’s previous close.

Several other research analysts have also recently issued reports on MKTX. The Goldman Sachs Group increased their price objective on MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Morgan Stanley increased their price target on MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler decreased their price objective on MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, UBS Group raised their target price on shares of MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, MarketAxess currently has an average rating of “Hold” and a consensus price target of $261.30.

MarketAxess Trading Down 0.1 %

Shares of NASDAQ:MKTX opened at $216.63 on Monday. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 9.49 and a beta of 1.03. MarketAxess has a 12 month low of $192.42 and a 12 month high of $296.68. The company has a 50-day moving average price of $245.29 and a 200 day moving average price of $246.29.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The business had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.17 million. During the same quarter last year, the firm earned $1.46 earnings per share. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts forecast that MarketAxess will post 7.38 EPS for the current year.

Insider Transactions at MarketAxess

In other MarketAxess news, Chairman Richard M. Mcvey sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the transaction, the chairman now owns 592,029 shares in the company, valued at approximately $160,883,880.75. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Scott Pintoff sold 300 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $240.57, for a total value of $72,171.00. Following the transaction, the general counsel now directly owns 8,302 shares of the company’s stock, valued at approximately $1,997,212.14. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,300 shares of company stock worth $8,183,871 over the last quarter. 2.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Accent Capital Management LLC purchased a new stake in shares of MarketAxess during the third quarter worth $25,000. Goodman Advisory Group LLC acquired a new position in MarketAxess during the second quarter worth about $27,000. Exchange Traded Concepts LLC purchased a new stake in MarketAxess during the 3rd quarter valued at about $54,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in MarketAxess by 555.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 200 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in MarketAxess by 160.3% in the 3rd quarter. Assetmark Inc. now owns 380 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 234 shares in the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.