MarketAxess Holdings Inc. $MKTX Stock Acquired by Walled Lake Planning & Wealth Management LLC

Walled Lake Planning & Wealth Management LLC boosted its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 262.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 11,299 shares of the financial services provider’s stock after acquiring an additional 8,183 shares during the period. Walled Lake Planning & Wealth Management LLC’s holdings in MarketAxess were worth $1,852,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC acquired a new stake in MarketAxess during the 3rd quarter worth approximately $14,715,000. Vise Technologies Inc. bought a new stake in MarketAxess in the 3rd quarter valued at approximately $368,000. Parcion Private Wealth LLC bought a new position in shares of MarketAxess during the 3rd quarter worth approximately $279,000. Citizens Financial Group Inc. RI grew its position in MarketAxess by 7.7% in the third quarter. Citizens Financial Group Inc. RI now owns 3,550 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 253 shares in the last quarter. Finally, MBL Wealth LLC acquired a new position in shares of MarketAxess during the 3rd quarter worth about $260,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group cut shares of MarketAxess from a “buy” rating to a “neutral” rating and dropped their target price for the company from $200.00 to $167.00 in a report on Friday, July 31st. Wall Street Zen cut MarketAxess from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods lowered MarketAxess from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $150.00 to $167.00 in a report on Tuesday, August 11th. Piper Sandler decreased their price objective on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of MarketAxess from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, MarketAxess currently has an average rating of “Hold” and an average target price of $159.44.

MarketAxess Price Performance

Shares of MarketAxess stock opened at $165.30 on Monday. The stock’s 50-day moving average is $163.78 and its 200 day moving average is $155.50. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.21 and a beta of 0.83. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.85 and a quick ratio of 1.85. MarketAxess Holdings Inc. has a one year low of $108.75 and a one year high of $195.96.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Friday, October 23rd. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.09). MarketAxess had a return on equity of 23.15% and a net margin of 33.51%. The company had revenue of $210.41 million for the quarter, compared to the consensus estimate of $218.98 million. During the same period in the prior year, the company earned $1.84 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that MarketAxess Holdings Inc. will post 8.02 EPS for the current year.

MarketAxess Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, November 10th. MarketAxess’s dividend payout ratio (DPR) is presently 38.19%.

Insider Buying and Selling at MarketAxess

In other news, Director William Cruger, Jr. sold 6,164 shares of MarketAxess stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $163.20, for a total transaction of $1,005,964.80. Following the completion of the sale, the director owned 4,033 shares in the company, valued at approximately $658,185.60. This trade represents a 60.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 6,464 shares of company stock valued at $1,055,022. Company insiders own 0.72% of the company’s stock.

MarketAxess Profile

MarketAxess Holdings Inc operates an electronic trading platform for fixed-income securities and related market data services. The company connects institutional investors, broker-dealers and other market participants, enabling them to trade corporate bonds, government bonds, emerging-market debt and other credit products through digital workflows.

Its offerings include electronic request-for-quote trading, all-to-all trading through its Open Trading marketplace, portfolio trading, and tools designed to support pricing, liquidity discovery and trade execution.