William Blair Lowers Earnings Estimates for MarketAxess

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Research analysts at William Blair lowered their FY2024 EPS estimates for shares of MarketAxess in a report released on Monday, January 13th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings per share of $7.28 for the year, down from their previous 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.

A number of other equities research analysts also recently commented on the company. Bank of America dropped their price objective on MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a report on Thursday, October 3rd. Barclays cut their price target on shares of MarketAxess from $260.00 to $256.00 and set an “equal weight” rating on the stock in a research report on Monday. UBS Group boosted their price objective on shares of MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods cut their target price on shares of MarketAxess from $255.00 to $251.00 and set a “market perform” rating on the stock in a report on Monday. Finally, Piper Sandler decreased their price target 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. Two equities research 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. According to MarketBeat, MarketAxess has an average rating of “Hold” and an average price target of $261.30.

MarketAxess Stock Up 1.8 %

MKTX stock opened at $221.70 on Thursday. MarketAxess has a twelve month low of $192.42 and a twelve month high of $296.68. The company has a market cap of $8.36 billion, a P/E ratio of 30.04, a price-to-earnings-growth ratio of 6.67 and a beta of 1.03. The business’s fifty day moving average is $241.85 and its 200-day moving average is $246.03.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The business had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.17 million. During the same period in the prior year, the business posted $1.46 earnings per share. MarketAxess’s revenue was up 20.0% compared to the same quarter last year.

Insider Activity at MarketAxess

In other news, Chairman Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total value of $5,435,000.00. Following the sale, the chairman now directly owns 592,029 shares in the company, valued at $160,883,880.75. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Scott Pintoff sold 300 shares of the company’s stock in a transaction dated 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 $1,997,212.14. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,300 shares of company stock valued at $8,183,871. 2.66% of the stock is owned by corporate insiders.

Institutional Trading of MarketAxess

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Hawaiian Bank acquired a new position in MarketAxess during the fourth quarter worth $1,088,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in MarketAxess during the 3rd quarter worth about $1,966,000. Principal Financial Group Inc. boosted its stake in shares of MarketAxess by 22.9% during the 3rd quarter. Principal Financial Group Inc. now owns 55,679 shares of the financial services provider’s stock worth $14,265,000 after buying an additional 10,361 shares during the last quarter. Geneva Capital Management LLC grew its holdings in shares of MarketAxess by 25.6% in the 3rd quarter. Geneva Capital Management LLC now owns 15,325 shares of the financial services provider’s stock valued at $3,926,000 after acquiring an additional 3,121 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of MarketAxess by 461.5% in the fourth quarter. Nordea Investment Management AB now owns 57,876 shares of the financial services provider’s stock valued at $13,041,000 after acquiring an additional 47,568 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.