Portside Wealth Group LLC Makes New $210,000 Investment in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Portside Wealth Group LLC acquired a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 970 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MKTX. Allianz SE acquired a new position in MarketAxess during the fourth quarter valued at $27,000. Smartleaf Asset Management LLC raised its position in MarketAxess by 495.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 125 shares of the financial services provider’s stock valued at $28,000 after buying an additional 104 shares during the period. SRS Capital Advisors Inc. raised its position in MarketAxess by 13,900.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 140 shares of the financial services provider’s stock valued at $32,000 after buying an additional 139 shares during the period. Huntington National Bank raised its position in MarketAxess by 185.7% during the fourth quarter. Huntington National Bank now owns 160 shares of the financial services provider’s stock valued at $36,000 after buying an additional 104 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of MarketAxess by 49.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Price Performance

NASDAQ:MKTX opened at $225.02 on Thursday. The stock has a market cap of $8.44 billion, a P/E ratio of 30.95, a PEG ratio of 3.89 and a beta of 0.84. MarketAxess Holdings Inc. has a one year low of $186.84 and a one year high of $296.68. The company has a fifty day moving average price of $219.03 and a 200 day moving average price of $219.17.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.05. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. The business had revenue of $208.58 million for the quarter, compared to the consensus estimate of $211.81 million. During the same period last year, the business earned $1.92 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities research analysts anticipate that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were paid a $0.76 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.35%. MarketAxess’s payout ratio is 52.87%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MKTX shares. William Blair initiated coverage on shares of MarketAxess in a report on Friday, April 4th. They set an “outperform” rating for the company. Citigroup upped their price target on shares of MarketAxess from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. UBS Group dropped their price target on shares of MarketAxess from $305.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Piper Sandler dropped their price target on shares of MarketAxess from $213.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Finally, Morgan Stanley lifted their price target on MarketAxess from $263.00 to $283.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $241.78.

MarketAxess Company 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.