Pictet Asset Management Ltd. bought a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 13,600 shares of the financial services provider’s stock, valued at approximately $4,371,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MKTX. JPMorgan Chase & Co. increased its stake in shares of MarketAxess by 221.7% during the second quarter. JPMorgan Chase & Co. now owns 857,638 shares of the financial services provider’s stock worth $271,304,000 after purchasing an additional 591,073 shares during the period. Baillie Gifford & Co. increased its stake in shares of MarketAxess by 8.4% during the second quarter. Baillie Gifford & Co. now owns 4,375,906 shares of the financial services provider’s stock worth $1,406,504,000 after purchasing an additional 339,211 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of MarketAxess during the second quarter worth approximately $46,326,000. AJO LP bought a new position in shares of MarketAxess during the first quarter worth approximately $31,266,000. Finally, Wells Fargo & Company MN increased its stake in shares of MarketAxess by 8.3% during the first quarter. Wells Fargo & Company MN now owns 1,413,736 shares of the financial services provider’s stock worth $347,891,000 after purchasing an additional 107,796 shares during the period. Institutional investors own 99.77% of the company’s stock.
A number of brokerages have recently weighed in on MKTX. Argus began coverage on MarketAxess in a research note on Thursday, August 29th. They set a “hold” rating on the stock. ValuEngine downgraded MarketAxess from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. BidaskClub downgraded MarketAxess from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Buckingham Research downgraded MarketAxess from a “neutral” rating to an “underperform” rating and set a $245.00 price target on the stock. in a research report on Wednesday, June 12th. Finally, Deutsche Bank increased their price target on MarketAxess from $332.00 to $336.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. MarketAxess has an average rating of “Hold” and a consensus target price of $277.20.
In other MarketAxess news, insider Nicholas Themelis sold 2,750 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $347.39, for a total value of $955,322.50. Following the sale, the insider now owns 53,064 shares of the company’s stock, valued at approximately $18,433,902.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen P. Casper sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $402.82, for a total value of $402,820.00. Following the completion of the sale, the director now directly owns 13,567 shares in the company, valued at approximately $5,465,058.94. The disclosure for this sale can be found here. Insiders have sold 23,750 shares of company stock worth $8,359,543 in the last three months. 3.28% of the stock is currently owned by company insiders.
NASDAQ:MKTX traded up $11.30 during trading hours on Tuesday, reaching $345.65. 9,516 shares of the company were exchanged, compared to its average volume of 359,204. The company has a market capitalization of $12.94 billion, a P/E ratio of 75.91 and a beta of 0.16. MarketAxess Holdings Inc. has a 1-year low of $172.09 and a 1-year high of $421.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.05 and a quick ratio of 10.05. The business has a 50 day moving average of $369.67 and a 200 day moving average of $309.37.
MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.03). The company had revenue of $125.50 million for the quarter, compared to analyst estimates of $126.06 million. MarketAxess had a return on equity of 29.85% and a net margin of 39.89%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. As a group, equities research analysts anticipate that MarketAxess Holdings Inc. will post 5.2 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, August 6th. MarketAxess’s dividend payout ratio is currently 44.64%.
MarketAxess Company Profile
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.
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