Cim Investment Management Inc. lifted its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 69.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,310 shares of the financial services provider’s stock after buying an additional 946 shares during the period. Cim Investment Management Inc.’s holdings in MarketAxess were worth $1,071,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Lloyd Advisory Services LLC. boosted its position in shares of MarketAxess by 50.0% in the second quarter. Lloyd Advisory Services LLC. now owns 72 shares of the financial services provider’s stock worth $33,000 after buying an additional 24 shares during the period. CSat Investment Advisory L.P. boosted its position in shares of MarketAxess by 56.9% in the first quarter. CSat Investment Advisory L.P. now owns 80 shares of the financial services provider’s stock worth $40,000 after buying an additional 29 shares during the period. Penserra Capital Management LLC boosted its position in shares of MarketAxess by 37.5% in the second quarter. Penserra Capital Management LLC now owns 121 shares of the financial services provider’s stock worth $56,000 after buying an additional 33 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of MarketAxess in the first quarter worth $71,000. Finally, Bbva USA acquired a new stake in shares of MarketAxess in the second quarter worth $74,000. 94.39% of the stock is owned by institutional investors and hedge funds.
NASDAQ MKTX traded up $2.24 during trading on Thursday, hitting $402.32. 3,050 shares of the company traded hands, compared to its average volume of 257,810. MarketAxess Holdings Inc. has a 12 month low of $396.17 and a 12 month high of $606.45. The business has a fifty day simple moving average of $447.24 and a 200 day simple moving average of $465.13. The company has a market capitalization of $15.28 billion, a P/E ratio of 52.93 and a beta of 0.36.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 18th. Shareholders of record on Wednesday, August 4th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Tuesday, August 3rd. This represents a $2.64 annualized dividend and a yield of 0.66%. MarketAxess’s dividend payout ratio (DPR) is currently 33.63%.
MKTX has been the subject of several recent research reports. Piper Sandler cut their price objective on MarketAxess from $483.00 to $475.00 and set a “neutral” rating for the company in a report on Wednesday, July 7th. Raymond James cut their price objective on MarketAxess from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Wednesday, October 6th. Morgan Stanley cut their price objective on MarketAxess from $459.00 to $441.00 and set an “equal weight” rating for the company in a report on Friday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on MarketAxess from $430.00 to $427.00 and set a “hold” rating for the company in a report on Thursday, July 22nd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $526.00.
In other news, insider Kevin M. Mcpherson sold 5,000 shares of MarketAxess stock in a transaction dated Tuesday, August 10th. The stock was sold at an average price of $476.53, for a total value of $2,382,650.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard M. Mcvey sold 12,117 shares of MarketAxess stock in a transaction dated Monday, August 9th. The stock was sold at an average price of $484.74, for a total value of $5,873,594.58. Following the completion of the transaction, the chief executive officer now owns 772,739 shares in the company, valued at $374,577,502.86. The disclosure for this sale can be found here. Insiders sold 17,902 shares of company stock worth $8,631,608 over the last quarter. 2.19% of the stock is currently owned by corporate insiders.
MarketAxess Holdings, Inc operates as an electronic trading platform that allows investment industry professionals to trade corporate bonds and other types of fixed-income instruments. It also provides data and analytical tools that help its clients to make trading decisions and facilitate the trading process by electronically communicating order information between trading counterparties.
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