MarketAxess (NASDAQ:MKTX – Get Free Report) was downgraded by investment analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.
A number of other research firms also recently weighed in on MKTX. William Blair downgraded MarketAxess from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Barclays lifted their price objective on MarketAxess from $132.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Monday. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $134.00 price objective (down from $189.00) on shares of MarketAxess in a report on Thursday, June 11th. UBS Group lowered MarketAxess from a “buy” rating to a “neutral” rating and cut their target price for the company from $200.00 to $167.00 in a research note on Friday, July 31st. Finally, Benchmark restated a “buy” rating on shares of MarketAxess in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, MarketAxess has a consensus rating of “Hold” and an average price target of $156.10.
Get Our Latest Stock Report on MarketAxess
MarketAxess Stock Up 0.0%
MarketAxess (NASDAQ:MKTX – Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.85 by $0.10. The company had revenue of $218.41 million during the quarter, compared to analysts’ expectations of $216.70 million. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm earned $2.00 EPS. As a group, research analysts forecast that MarketAxess will post 8.04 EPS for the current fiscal year.
Hedge Funds Weigh In On MarketAxess
A number of large investors have recently added to or reduced their stakes in the company. Amundi boosted its position in shares of MarketAxess by 803.9% during the first quarter. Amundi now owns 258,708 shares of the financial services provider’s stock worth $42,682,000 after buying an additional 230,087 shares during the period. Hsbc Holdings PLC raised its position in MarketAxess by 638.7% in the 1st quarter. Hsbc Holdings PLC now owns 21,009 shares of the financial services provider’s stock valued at $3,472,000 after buying an additional 18,165 shares during the last quarter. CWM LLC lifted its stake in MarketAxess by 190.5% in the 4th quarter. CWM LLC now owns 75,665 shares of the financial services provider’s stock valued at $13,714,000 after acquiring an additional 49,619 shares in the last quarter. Polar Asset Management Partners Inc. lifted its stake in MarketAxess by 523.8% in the 1st quarter. Polar Asset Management Partners Inc. now owns 104,174 shares of the financial services provider’s stock valued at $17,187,000 after acquiring an additional 87,474 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in MarketAxess in the 2nd quarter valued at approximately $406,000. Institutional investors own 99.01% of the company’s stock.
About MarketAxess
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.
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