MarketAxess (NASDAQ:MKTX) Reaches New 12-Month Low at $198.01

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) reached a new 52-week low on Tuesday . The company traded as low as $198.01 and last traded at $209.85, with a volume of 193920 shares trading hands. The stock had previously closed at $205.80.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MKTX shares. Bank of America initiated coverage on shares of MarketAxess in a report on Wednesday, April 10th. They set an “underperform” rating and a $199.00 price target on the stock. Rosenblatt Securities cut their target price on MarketAxess from $229.00 to $210.00 and set a “sell” rating on the stock in a research report on Thursday, February 1st. Piper Sandler decreased their price objective on shares of MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. William Blair restated an “outperform” rating on shares of MarketAxess in a report on Tuesday, January 23rd. Finally, The Goldman Sachs Group decreased their target price on MarketAxess from $263.00 to $225.00 and set a “neutral” rating for the company in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, MarketAxess has an average rating of “Hold” and a consensus target price of $252.80.

MarketAxess Stock Performance

The stock has a fifty day moving average price of $213.50 and a 200-day moving average price of $235.20. The firm has a market capitalization of $7.55 billion, a PE ratio of 30.04, a P/E/G ratio of 4.26 and a beta of 0.98.

Insider Transactions at MarketAxess

In related news, CRO Kevin M. Mcpherson sold 2,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $221.26, for a total transaction of $442,520.00. Following the transaction, the executive now directly owns 70,092 shares in the company, valued at approximately $15,508,555.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.66% of the company’s stock.

Institutional Investors Weigh In On MarketAxess

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in shares of MarketAxess by 19.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 418,104 shares of the financial services provider’s stock valued at $89,324,000 after buying an additional 69,165 shares during the period. Concord Wealth Partners acquired a new position in shares of MarketAxess in the third quarter worth $134,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MarketAxess by 7.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,456 shares of the financial services provider’s stock worth $3,088,000 after purchasing an additional 954 shares during the period. Mackenzie Financial Corp raised its position in MarketAxess by 2.3% in the 3rd quarter. Mackenzie Financial Corp now owns 2,851 shares of the financial services provider’s stock valued at $584,000 after purchasing an additional 65 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of MarketAxess by 7.8% during the third quarter. IFM Investors Pty Ltd now owns 6,901 shares of the financial services provider’s stock worth $1,474,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

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.