MarketAxess (NASDAQ:MKTX) Shares Gap Down – Should You Sell?

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) gapped down prior to trading on Wednesday . The stock had previously closed at $181.40, but opened at $173.95. MarketAxess shares last traded at $175.67, with a volume of 148,958 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MKTX shares. Weiss Ratings reissued a “sell (d+)” rating on shares of MarketAxess in a research report on Monday, December 29th. Loop Capital set a $164.00 price target on MarketAxess in a research note on Tuesday, October 14th. Morgan Stanley cut their price objective on MarketAxess from $209.00 to $204.00 and set an “equal weight” rating on the stock in a report on Monday, December 22nd. Argus reduced their price objective on MarketAxess from $212.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Finally, Zacks Research raised MarketAxess from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $204.82.

MarketAxess Stock Down 4.9%

The company has a market capitalization of $6.42 billion, a PE ratio of 29.36, a PEG ratio of 6.02 and a beta of 0.97. The firm has a 50-day moving average of $171.50 and a two-hundred day moving average of $184.86.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Friday, November 7th. The financial services provider reported $1.84 EPS for the quarter, topping the consensus estimate of $1.69 by $0.15. MarketAxess had a return on equity of 20.20% and a net margin of 26.16%.The business had revenue of $208.82 million for the quarter, compared to analyst estimates of $212.59 million. During the same quarter in the prior year, the firm posted $1.90 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

MarketAxess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 19th were given a dividend of $0.76 per share. The ex-dividend date was Wednesday, November 19th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.8%. MarketAxess’s dividend payout ratio (DPR) is 51.70%.

Hedge Funds Weigh In On MarketAxess

Hedge funds have recently bought and sold shares of the business. MUFG Securities EMEA plc purchased a new stake in shares of MarketAxess in the second quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased its holdings in MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC grew its position in shares of MarketAxess by 992.9% in the second quarter. True Wealth Design LLC now owns 153 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 139 shares during the period. Harbor Investment Advisory LLC purchased a new stake in shares of MarketAxess during the second quarter worth about $37,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of MarketAxess during the 3rd quarter worth about $38,000. Hedge funds and other 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.