FY2024 EPS Estimates for MarketAxess Cut by William Blair

MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) - Stock analysts at William Blair lowered their FY2024 earnings per share (EPS) estimates for MarketAxess in a research note issued to investors on Monday, January 13th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings per share of $7.28 for the year, down from their prior estimate of $7.31. The consensus estimate for MarketAxess' current full-year earnings is $7.29 per share. William Blair also issued estimates for MarketAxess' Q4 2024 earnings at $1.73 EPS.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.05. The company had revenue of $206.70 million for the quarter, compared to analysts' expectations of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The business's revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 EPS.

Other equities research analysts have also issued research reports about the stock. Bank of America decreased their price target on shares of MarketAxess from $193.00 to $185.00 and set an "underperform" rating for the company in a research note on Thursday, October 3rd. Morgan Stanley raised their target price on MarketAxess from $262.00 to $314.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Piper Sandler dropped their price target on MarketAxess from $265.00 to $240.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their price objective on MarketAxess from $255.00 to $251.00 and set a "market perform" rating for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of MarketAxess from $258.00 to $264.00 and gave the company a "hold" rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $261.30.

MarketAxess Stock Up 1.8 %

NASDAQ MKTX traded up $3.88 during trading hours on Thursday, reaching $221.70. 399,162 shares of the company were exchanged, compared to its average volume of 443,116. The stock has a market capitalization of $8.36 billion, a P/E ratio of 30.04, a P/E/G ratio of 6.67 and a beta of 1.03. MarketAxess has a 1 year low of $192.42 and a 1 year high of $296.68. The business's 50 day simple moving average is $241.85 and its 200-day simple moving average is $246.03.

Institutional Trading of MarketAxess

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new position in MarketAxess in the second quarter valued at $881,000. Acadian Asset Management LLC bought a new position in shares of MarketAxess during the 2nd quarter valued at about $236,000. Oppenheimer Asset Management Inc. raised its holdings in shares of MarketAxess by 40.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,835 shares of the financial services provider's stock valued at $2,774,000 after buying an additional 3,963 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MarketAxess by 49.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 323,064 shares of the financial services provider's stock valued at $64,784,000 after buying an additional 107,315 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in MarketAxess by 3,066.1% in the 2nd quarter. Renaissance Technologies LLC now owns 164,636 shares of the financial services provider's stock worth $33,014,000 after buying an additional 159,436 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company's stock.

Insider Buying and Selling at MarketAxess

In other news, Chairman Richard M. Mcvey sold 20,000 shares of MarketAxess stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the completion of the sale, the chairman now owns 592,029 shares in the company, valued at approximately $160,883,880.75. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Scott Pintoff sold 300 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $240.57, for a total transaction of $72,171.00. Following the completion of the transaction, the general counsel now owns 8,302 shares in the company, valued at approximately $1,997,212.14. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,300 shares of company stock valued at $8,183,871 in the last three months. Company insiders own 2.66% of the company's stock.

About MarketAxess

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.