Zacks Investment Research cut shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

According to Zacks, “MarketAxess Holdings suffers from escalating expenses. The company’s operation is also hurt by stringent regulation of U.S and U.K. Intense competition remains another headwind. However, underwriting results have been consistently impressive driven by growth in revenues, improving trading volumes, ongoing investments in areas including Open Trading, launch of products and its strong market position in the U.S. credit. Also, it continues to benefit from its international business, with strength in both emerging markets and Eurobond spaces. Year to date, the stock has gained 37% outperforming the Zacks Security Exchange Industry that rose only 12%.”

A number of other analysts have also issued reports on the stock. Keefe, Bruyette & Woods reissued a buy rating and set a $205.00 target price on shares of MarketAxess Holdings in a research note on Thursday, July 6th. BidaskClub lowered shares of MarketAxess Holdings from a buy rating to a hold rating in a research note on Saturday, June 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $189.00.

MarketAxess Holdings (NASDAQ MKTX) traded up 0.12% during midday trading on Monday, hitting $193.98. 109,074 shares of the stock traded hands. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 52.68 and a beta of 0.70. The firm’s 50-day moving average is $195.67 and its 200-day moving average is $183.31. MarketAxess Holdings has a 52-week low of $145.10 and a 52-week high of $211.06.

MarketAxess Holdings (NASDAQ:MKTX) last issued its earnings results on Wednesday, April 26th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.16. The firm had revenue of $103.90 million during the quarter, compared to analyst estimates of $102.52 million. MarketAxess Holdings had a net margin of 36.26% and a return on equity of 30.39%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 earnings per share. Analysts predict that MarketAxess Holdings will post $4.04 EPS for the current year.

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In related news, insider Kevin M. Mcpherson sold 9,286 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $201.35, for a total value of $1,869,736.10. Following the completion of the sale, the insider now directly owns 90,929 shares of the company’s stock, valued at $18,308,554.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard M. Mcvey sold 27,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $191.20, for a total transaction of $5,162,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,082,844 shares of the company’s stock, valued at $207,039,772.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,112 shares of company stock valued at $11,912,518. 4.51% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. Retirement Systems of Alabama raised its stake in MarketAxess Holdings by 20.3% in the first quarter. Retirement Systems of Alabama now owns 58,377 shares of the financial services provider’s stock worth $10,945,000 after buying an additional 9,848 shares during the period. Columbus Circle Investors acquired a new stake in MarketAxess Holdings during the first quarter worth $13,760,000. Capital Impact Advisors LLC raised its stake in MarketAxess Holdings by 11.1% in the first quarter. Capital Impact Advisors LLC now owns 8,110 shares of the financial services provider’s stock worth $1,521,000 after buying an additional 810 shares during the period. Louisiana State Employees Retirement System raised its stake in MarketAxess Holdings by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the financial services provider’s stock worth $1,781,000 after buying an additional 200 shares during the period. Finally, Campbell Newman Asset Management Inc. raised its stake in MarketAxess Holdings by 14.0% in the first quarter. Campbell Newman Asset Management Inc. now owns 2,156 shares of the financial services provider’s stock worth $404,000 after buying an additional 265 shares during the period. 89.78% of the stock is owned by institutional investors.

MarketAxess Holdings Company Profile

MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.

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Analyst Recommendations for MarketAxess Holdings (NASDAQ:MKTX)

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