Twin Tree Management LP cut its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX – Free Report) by 95.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,227 shares of the financial services provider’s stock after selling 23,473 shares during the quarter. Twin Tree Management LP’s holdings in MarketAxess were worth $222,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted its stake in MarketAxess by 66.6% during the third quarter. Primecap Management Co. CA now owns 2,230,595 shares of the financial services provider’s stock worth $388,681,000 after purchasing an additional 891,303 shares during the last quarter. Van ECK Associates Corp increased its position in MarketAxess by 6.5% in the third quarter. Van ECK Associates Corp now owns 1,948,633 shares of the financial services provider’s stock worth $339,549,000 after buying an additional 119,036 shares during the period. State Street Corp increased its position in MarketAxess by 4.6% in the second quarter. State Street Corp now owns 1,532,696 shares of the financial services provider’s stock worth $342,312,000 after buying an additional 67,290 shares during the period. AQR Capital Management LLC increased its position in MarketAxess by 25.4% in the third quarter. AQR Capital Management LLC now owns 951,088 shares of the financial services provider’s stock worth $165,727,000 after buying an additional 192,626 shares during the period. Finally, North Reef Capital Management LP increased its position in MarketAxess by 117.0% in the third quarter. North Reef Capital Management LP now owns 911,358 shares of the financial services provider’s stock worth $158,804,000 after buying an additional 491,358 shares during the period. 99.01% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on MKTX. Argus lowered MarketAxess from a “buy” rating to a “hold” rating in a research report on Tuesday, March 17th. Weiss Ratings lowered MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Barclays dropped their target price on MarketAxess from $189.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. UBS Group dropped their target price on MarketAxess from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Finally, Keefe, Bruyette & Woods began coverage on MarketAxess in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $195.00 target price on the stock. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $190.88.
MarketAxess Price Performance
Shares of MKTX opened at $116.51 on Wednesday. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 2.62 and a beta of 0.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.17 and a current ratio of 2.17. MarketAxess Holdings Inc. has a one year low of $113.29 and a one year high of $228.16. The stock’s fifty day moving average is $150.62 and its 200-day moving average is $166.29.
MarketAxess (NASDAQ:MKTX – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.10. The company had revenue of $233.38 million for the quarter, compared to analyst estimates of $231.91 million. MarketAxess had a return on equity of 22.28% and a net margin of 35.53%.The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $1.87 earnings per share. Equities analysts anticipate that MarketAxess Holdings Inc. will post 8.02 EPS for the current year.
MarketAxess Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, May 20th. MarketAxess’s dividend payout ratio (DPR) is 36.88%.
About MarketAxess
MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.
In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.
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