Deutsche Bank Increases MarketAxess (NASDAQ:MKTX) Price Target to $336.00
MarketAxess (NASDAQ:MKTX) had its target price lifted by equities research analysts at Deutsche Bank from $332.00 to $336.00 in a research note issued on Wednesday, BenzingaRatingsTable reports. The firm presently has a “hold” rating on the financial services provider’s stock. Deutsche Bank’s target price points to a potential downside of 8.64% from the company’s current price.
Several other analysts have also issued reports on MKTX. Barclays upped their target price on shares of MarketAxess from $244.00 to $289.00 and gave the stock an “equal weight” rating in a research note on Friday, June 28th. BidaskClub upgraded shares of MarketAxess from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 9th. Buckingham Research lowered shares of MarketAxess from a “neutral” rating to an “underperform” rating and set a $245.00 target price for the company. in a research note on Wednesday, June 12th. Finally, ValuEngine lowered shares of MarketAxess from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. MarketAxess has an average rating of “Hold” and a consensus target price of $277.20.
MKTX stock traded up $0.75 during midday trading on Wednesday, reaching $367.77. 1,356 shares of the company’s stock traded hands, compared to its average volume of 368,578. The firm has a market capitalization of $13.86 billion, a P/E ratio of 80.47 and a beta of 0.22. The firm has a fifty day simple moving average of $346.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.05 and a current ratio of 10.05. MarketAxess has a 52 week low of $172.09 and a 52 week high of $373.98.
In related news, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $350.07, for a total value of $7,001,400.00. Following the transaction, the chief executive officer now directly owns 1,044,249 shares of the company’s stock, valued at approximately $365,560,247.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen P. Casper sold 102 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $337.30, for a total transaction of $34,404.60. Following the completion of the transaction, the director now directly owns 13,157 shares in the company, valued at $4,437,856.10. The disclosure for this sale can be found here. Insiders sold a total of 22,852 shares of company stock worth $7,991,127 over the last three months. 3.28% of the stock is owned by insiders.
Several large investors have recently modified their holdings of MKTX. CWM LLC lifted its holdings in MarketAxess by 60.7% during the second quarter. CWM LLC now owns 90 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 34 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in MarketAxess during the second quarter valued at about $36,000. Kavar Capital Partners LLC purchased a new stake in MarketAxess during the second quarter valued at about $40,000. AdvisorNet Financial Inc lifted its holdings in MarketAxess by 41.7% during the second quarter. AdvisorNet Financial Inc now owns 170 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 50 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in MarketAxess during the second quarter valued at about $71,000. 99.19% of the stock is currently owned by institutional investors.
MarketAxess Company Profile
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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