Edgestream Partners L.P. Invests $614,000 in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Edgestream Partners L.P. bought a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,395 shares of the financial services provider’s stock, valued at approximately $614,000.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its holdings in MarketAxess by 17.5% in the 3rd quarter. FMR LLC now owns 1,959,043 shares of the financial services provider’s stock valued at $501,907,000 after acquiring an additional 291,134 shares during the last quarter. Van ECK Associates Corp lifted its stake in MarketAxess by 10.3% during the second quarter. Van ECK Associates Corp now owns 1,828,055 shares of the financial services provider’s stock valued at $366,580,000 after purchasing an additional 170,095 shares during the last quarter. Primecap Management Co. CA lifted its stake in MarketAxess by 0.6% during the third quarter. Primecap Management Co. CA now owns 1,338,922 shares of the financial services provider’s stock valued at $343,032,000 after purchasing an additional 8,042 shares during the last quarter. Marshall Wace LLP boosted its holdings in MarketAxess by 53.5% during the second quarter. Marshall Wace LLP now owns 820,060 shares of the financial services provider’s stock worth $164,447,000 after buying an additional 285,665 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in MarketAxess by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 443,714 shares of the financial services provider’s stock worth $88,978,000 after buying an additional 17,996 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

MarketAxess Stock Performance

MKTX stock opened at $243.96 on Friday. The firm has a 50 day simple moving average of $273.32 and a 200 day simple moving average of $240.74. MarketAxess Holdings Inc. has a 52 week low of $192.42 and a 52 week high of $297.97. The stock has a market cap of $9.20 billion, a P/E ratio of 33.06, a P/E/G ratio of 11.80 and a beta of 1.00.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The company had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.17 million. During the same quarter last year, the business posted $1.46 EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. Sell-side analysts predict that MarketAxess Holdings Inc. will post 7.37 EPS for the current year.

MarketAxess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were paid a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $2.96 dividend on an annualized basis and a yield of 1.21%. MarketAxess’s dividend payout ratio (DPR) is currently 40.11%.

Analyst Upgrades and Downgrades

MKTX has been the subject of a number of recent research reports. Barclays increased their price objective on MarketAxess from $237.00 to $268.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods upped their target price on MarketAxess from $270.00 to $276.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Bank of America dropped their price target on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research note on Thursday, October 3rd. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price objective on shares of MarketAxess in a research note on Thursday, November 7th. Finally, UBS Group raised their target price on shares of MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $267.50.

Insiders Place Their Bets

In other MarketAxess news, Chairman Richard M. Mcvey sold 10,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the transaction, the chairman now directly owns 562,029 shares of the company’s stock, valued at $150,438,302.43. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.66% of the company’s stock.

MarketAxess 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.