Journey Strategic Wealth LLC Invests $218,000 in MarketAxess Holdings Inc. $MKTX

Journey Strategic Wealth LLC bought a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 976 shares of the financial services provider’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its stake in MarketAxess by 200.0% in the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC increased its position in shares of MarketAxess by 992.9% during the second quarter. True Wealth Design LLC now owns 153 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 139 shares in the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of MarketAxess in the 2nd quarter valued at about $37,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of MarketAxess by 51.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 84 shares during the period. Finally, Allworth Financial LP boosted its position in shares of MarketAxess by 160.5% in the 2nd quarter. Allworth Financial LP now owns 310 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 191 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MarketAxess

In other MarketAxess news, CRO Kevin M. Mcpherson sold 1,494 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $185.32, for a total transaction of $276,868.08. Following the completion of the transaction, the executive directly owned 67,681 shares in the company, valued at approximately $12,542,642.92. This trade represents a 2.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen P. Casper sold 1,600 shares of MarketAxess stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $186.59, for a total value of $298,544.00. Following the transaction, the director owned 43,208 shares of the company’s stock, valued at $8,062,180.72. This represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is currently owned by corporate insiders.

MarketAxess Stock Up 0.0%

Shares of NASDAQ:MKTX opened at $161.80 on Tuesday. MarketAxess Holdings Inc. has a 52 week low of $156.17 and a 52 week high of $266.21. The company has a market cap of $6.01 billion, a P/E ratio of 27.24, a PEG ratio of 6.44 and a beta of 0.94. The company has a 50-day moving average price of $170.76 and a 200 day moving average price of $194.66.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Friday, November 7th. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The firm had revenue of $208.82 million for the quarter, compared to analyst estimates of $212.59 million. During the same quarter in the prior year, the company posted $1.90 earnings per share. MarketAxess’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 19th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, November 19th. MarketAxess’s payout ratio is presently 51.70%.

Wall Street Analyst Weigh In

Several research analysts have commented on MKTX shares. Jefferies Financial Group cut their price target on MarketAxess from $217.00 to $208.00 and set a “hold” rating on the stock in a research report on Monday, August 11th. UBS Group lowered their target price on shares of MarketAxess from $255.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Barclays lifted their target price on shares of MarketAxess from $186.00 to $188.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Zacks Research upgraded shares of MarketAxess from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Loop Capital set a $164.00 price objective on shares of MarketAxess in a research report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $205.91.

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.