MarketAxess (NASDAQ:MKTX) Sets New 52-Week Low - Time to Sell?

MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $188.67 and last traded at $188.62, with a volume of 45209 shares traded. The stock had previously closed at $191.54.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of MarketAxess from $251.00 to $225.00 and set a "market perform" rating on the stock in a research report on Friday, February 7th. Barclays cut their price objective on MarketAxess from $256.00 to $225.00 and set an "equal weight" rating on the stock in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised their target price on MarketAxess from $258.00 to $264.00 and gave the company a "hold" rating in a research note on Monday, November 11th. UBS Group dropped their price target on MarketAxess from $330.00 to $305.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, The Goldman Sachs Group decreased their price objective on MarketAxess from $235.00 to $210.00 and set a "neutral" rating for the company in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, MarketAxess currently has an average rating of "Hold" and a consensus price target of $254.78.

MarketAxess Price Performance

The stock has a 50 day simple moving average of $216.37 and a 200-day simple moving average of $244.73. The firm has a market cap of $7.31 billion, a PE ratio of 26.68, a PEG ratio of 3.91 and a beta of 1.02.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.03. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. As a group, equities analysts predict that MarketAxess Holdings Inc. will post 7.82 EPS for the current fiscal year.

MarketAxess Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 19th will be issued a $0.76 dividend. The ex-dividend date is Wednesday, February 19th. This is a boost from MarketAxess's previous quarterly dividend of $0.74. This represents a $3.04 annualized dividend and a yield of 1.57%. MarketAxess's payout ratio is 41.82%.

Insider Activity

In related news, 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 value of $72,171.00. Following the transaction, the general counsel now directly owns 8,302 shares of the company's stock, valued at approximately $1,997,212.14. This represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.66% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Asset Management One Co. Ltd. increased its holdings in MarketAxess by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,431 shares of the financial services provider's stock worth $3,953,000 after buying an additional 50 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of MarketAxess by 1.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider's stock valued at $1,287,000 after acquiring an additional 52 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of MarketAxess by 4.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,340 shares of the financial services provider's stock worth $303,000 after acquiring an additional 52 shares during the period. M&T Bank Corp raised its holdings in shares of MarketAxess by 4.0% during the third quarter. M&T Bank Corp now owns 1,469 shares of the financial services provider's stock valued at $376,000 after purchasing an additional 56 shares during the last quarter. Finally, State of Wyoming raised its holdings in shares of MarketAxess by 13.6% during the fourth quarter. State of Wyoming now owns 483 shares of the financial services provider's stock valued at $109,000 after purchasing an additional 58 shares during 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.