Aperio Group LLC reduced its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 3.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,557 shares of the financial services provider’s stock after selling 1,252 shares during the quarter. Aperio Group LLC owned about 0.09% of MarketAxess worth $15,679,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MKTX. Atlas Private Wealth Management bought a new stake in MarketAxess during the third quarter valued at approximately $40,000. Cullen Frost Bankers Inc. bought a new stake in MarketAxess during the third quarter valued at approximately $48,000. Norway Savings Bank bought a new stake in MarketAxess during the third quarter valued at approximately $60,000. CWM LLC lifted its position in MarketAxess by 62.5% during the third quarter. CWM LLC now owns 130 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 50 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in MarketAxess by 51.1% during the second quarter. IFP Advisors Inc now owns 139 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 91.72% of the company’s stock.
In related news, CEO Richard M. Mcvey sold 32,017 shares of MarketAxess stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $450.85, for a total value of $14,434,864.45. Following the sale, the chief executive officer now owns 973,085 shares in the company, valued at $438,715,372.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen P. Casper sold 500 shares of MarketAxess stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $500.00, for a total transaction of $250,000.00. Following the completion of the sale, the director now owns 11,350 shares in the company, valued at approximately $5,675,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,979 shares of company stock worth $29,438,386. 3.05% of the stock is currently owned by company insiders.
MKTX has been the subject of several research analyst reports. BidaskClub lowered shares of MarketAxess from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 2nd. Piper Sandler lifted their target price on shares of MarketAxess from $520.00 to $535.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Credit Suisse Group lifted their price target on shares of MarketAxess from $489.00 to $492.00 and gave the stock a “neutral” rating in a research note on Thursday, September 10th. Rosenblatt Securities lifted their price target on shares of MarketAxess from $561.00 to $575.00 and gave the stock a “neutral” rating in a research note on Friday, November 6th. Finally, Loop Capital lifted their price target on shares of MarketAxess from $621.00 to $631.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $478.33.
Shares of NASDAQ MKTX opened at $521.99 on Tuesday. MarketAxess Holdings Inc. has a 52 week low of $275.49 and a 52 week high of $606.45. The firm’s fifty day moving average is $532.37 and its 200 day moving average is $502.95. The company has a market cap of $19.82 billion, a price-to-earnings ratio of 71.90 and a beta of 0.46.
MarketAxess (NASDAQ:MKTX) last issued its earnings results on Tuesday, October 27th. The financial services provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.74 by $0.04. The company had revenue of $164.00 million for the quarter, compared to the consensus estimate of $138.13 million. MarketAxess had a net margin of 42.73% and a return on equity of 33.35%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 earnings per share. As a group, equities analysts predict that MarketAxess Holdings Inc. will post 7.7 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Wednesday, November 11th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, November 9th. MarketAxess’s dividend payout ratio (DPR) is currently 44.44%.
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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