MarketAxess (NASDAQ:MKTX) Hits New 12-Month Low Following Analyst Downgrade

MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report)'s share price reached a new 52-week low on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $235.00 to $210.00. The Goldman Sachs Group currently has a neutral rating on the stock. MarketAxess traded as low as $191.91 and last traded at $191.91, with a volume of 50922 shares trading hands. The stock had previously closed at $196.20.

Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of MarketAxess from $258.00 to $264.00 and gave the company a "hold" rating in a research report on Monday, November 11th. UBS Group cut their price objective on shares of MarketAxess from $330.00 to $305.00 and set a "buy" rating for the company in a report on Friday, February 7th. Morgan Stanley raised their price objective on shares of MarketAxess from $262.00 to $314.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods cut their price objective on shares of MarketAxess from $251.00 to $225.00 and set a "market perform" rating for the company in a report on Friday, February 7th. Finally, Piper Sandler cut their price objective on shares of MarketAxess from $265.00 to $240.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $254.78.

Insiders Place Their Bets

In other MarketAxess news, General Counsel Scott Pintoff sold 300 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $240.57, for a total value of $72,171.00. Following the sale, the general counsel now directly owns 8,302 shares in the company, valued at $1,997,212.14. This represents a 3.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.66% of the company's stock.

Institutional Trading of MarketAxess

Several institutional investors and hedge funds have recently bought and sold shares of the company. Aquatic Capital Management LLC raised its position in shares of MarketAxess by 136.9% during the 4th quarter. Aquatic Capital Management LLC now owns 24,825 shares of the financial services provider's stock valued at $5,611,000 after buying an additional 14,345 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of MarketAxess by 4.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 10,056 shares of the financial services provider's stock valued at $2,273,000 after buying an additional 411 shares in the last quarter. North Reef Capital Management LP raised its position in shares of MarketAxess by 69.6% during the 4th quarter. North Reef Capital Management LP now owns 271,318 shares of the financial services provider's stock valued at $61,329,000 after buying an additional 111,318 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of MarketAxess by 11.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,298,409 shares of the financial services provider's stock valued at $519,533,000 after buying an additional 236,118 shares in the last quarter. Finally, MGO One Seven LLC purchased a new stake in shares of MarketAxess during the 4th quarter valued at $237,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

MarketAxess Stock Performance

The company's 50-day moving average price is $222.81 and its two-hundred day moving average price is $246.46. The stock has a market cap of $7.28 billion, a PE ratio of 26.56, a PEG ratio of 4.08 and a beta of 1.02.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.03. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. Equities research analysts forecast that MarketAxess Holdings Inc. will post 8.05 earnings per share for the current fiscal year.

MarketAxess Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.04 annualized dividend and a dividend yield of 1.57%. This is a boost from MarketAxess's previous quarterly dividend of $0.74. MarketAxess's dividend payout ratio (DPR) is 40.72%.

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.