Journey Strategic Wealth LLC Takes Position in MarketAxess Holdings Inc. $MKTX

Journey Strategic Wealth LLC purchased a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 976 shares of the financial services provider’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also modified their holdings of MKTX. Legal & General Group Plc lifted its position in MarketAxess by 14.1% during the second quarter. Legal & General Group Plc now owns 76,823 shares of the financial services provider’s stock valued at $17,158,000 after buying an additional 9,468 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of MarketAxess in the second quarter worth about $467,000. Magnetar Financial LLC raised its position in shares of MarketAxess by 288.5% in the 2nd quarter. Magnetar Financial LLC now owns 31,881 shares of the financial services provider’s stock valued at $7,120,000 after purchasing an additional 23,674 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in MarketAxess during the 2nd quarter valued at $261,000. Finally, Ensign Peak Advisors Inc grew its stake in MarketAxess by 27.1% in the second quarter. Ensign Peak Advisors Inc now owns 22,802 shares of the financial services provider’s stock worth $5,093,000 after purchasing an additional 4,860 shares in the last quarter. 99.01% of the stock is 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 that occurred on Friday, September 12th. The stock was sold at an average price of $185.32, for a total value of $276,868.08. Following the completion of the sale, the executive 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen P. Casper sold 1,600 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $186.59, for a total transaction of $298,544.00. Following the completion of the sale, the director directly owned 43,208 shares in the company, valued at $8,062,180.72. This trade represents a 3.57% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is owned by corporate insiders.

MarketAxess Price Performance

MKTX opened at $161.80 on Tuesday. The company has a market capitalization of $6.01 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 6.44 and a beta of 0.94. MarketAxess Holdings Inc. has a fifty-two week low of $156.17 and a fifty-two week high of $266.21. The business has a 50-day moving average of $170.76 and a 200-day moving average of $194.66.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Friday, November 7th. The financial services provider reported $1.84 EPS for the quarter, topping the consensus estimate of $1.69 by $0.15. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The company 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 business posted $1.90 EPS. MarketAxess’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts expect that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

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

Analyst Upgrades and Downgrades

MKTX has been the subject of a number of research reports. Zacks Research raised shares of MarketAxess from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Piper Sandler set a $180.00 price target on MarketAxess in a research report on Tuesday, October 14th. Wall Street Zen raised MarketAxess from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Jefferies Financial Group reduced their price objective on shares of MarketAxess from $217.00 to $208.00 and set a “hold” rating for the company in a research report on Monday, August 11th. Finally, Morgan Stanley lowered MarketAxess from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $247.00 to $209.00 in a research report on Thursday, November 20th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $205.91.

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.