State Street Corp lessened its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,699,624 shares of the financial services provider’s stock after selling 30,717 shares during the quarter. State Street Corp owned about 4.48% of MarketAxess worth $818,522,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of MarketAxess by 0.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,476 shares of the financial services provider’s stock worth $1,192,000 after purchasing an additional 19 shares during the last quarter. Kovack Advisors Inc. boosted its stake in shares of MarketAxess by 1.6% during the 3rd quarter. Kovack Advisors Inc. now owns 1,365 shares of the financial services provider’s stock worth $657,000 after acquiring an additional 21 shares in the last quarter. Campbell Newman Asset Management Inc. boosted its stake in shares of MarketAxess by 1.1% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 2,164 shares of the financial services provider’s stock worth $1,084,000 after acquiring an additional 23 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of MarketAxess by 3.5% during the 2nd quarter. HBK Sorce Advisory LLC now owns 711 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 24 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of MarketAxess by 1.1% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,236 shares of the financial services provider’s stock worth $1,120,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 91.72% of the company’s stock.
In other news, CEO Richard M. Mcvey sold 32,017 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $450.85, for a total transaction of $14,434,864.45. Following the completion of the transaction, the chief executive officer now directly owns 973,085 shares in the company, valued at approximately $438,715,372.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nicholas Themelis sold 4,000 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $456.91, for a total transaction of $1,827,640.00. Following the transaction, the insider now owns 33,992 shares of the company’s stock, valued at $15,531,284.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,979 shares of company stock valued at $29,438,386. Company insiders own 3.05% of the company’s stock.
Shares of NASDAQ MKTX opened at $546.14 on Friday. The firm has a market cap of $20.73 billion, a PE ratio of 75.23 and a beta of 0.46. MarketAxess Holdings Inc. has a 1-year low of $275.49 and a 1-year high of $606.45. The company has a fifty day moving average price of $535.86 and a 200 day moving average price of $504.30.
MarketAxess (NASDAQ:MKTX) last announced its earnings results on Tuesday, October 27th. The financial services provider reported $1.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.04. The firm had revenue of $164.00 million during the quarter, compared to analyst estimates of $138.13 million. MarketAxess had a net margin of 42.73% and a return on equity of 33.35%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 EPS. Analysts expect that MarketAxess Holdings Inc. will post 7.7 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, November 9th. MarketAxess’s payout ratio is presently 44.44%.
Several equities research analysts have recently weighed in on MKTX shares. BidaskClub lowered MarketAxess from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 2nd. Deutsche Bank Aktiengesellschaft raised their target price on MarketAxess from $517.00 to $562.00 and gave the stock a “hold” rating in a research report on Wednesday, October 28th. Rosenblatt Securities raised their target price on MarketAxess from $561.00 to $575.00 and gave the stock a “neutral” rating in a research report on Friday, November 6th. Loop Capital raised their target price on MarketAxess from $621.00 to $631.00 and gave the stock a “buy” rating in a research report on Wednesday, November 4th. Finally, Zacks Investment Research cut MarketAxess from a “buy” rating to a “hold” rating and set a $474.00 target price for the company. in a research report on Wednesday, September 9th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. MarketAxess currently has an average rating of “Hold” and a consensus price target of $478.33.
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.
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