Redwood Investment Management LLC purchased a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX – Free Report) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 6,262 shares of the financial services provider’s stock, valued at approximately $1,033,000.
Other large investors also recently bought and sold shares of the company. MUFG Securities EMEA plc purchased a new stake in MarketAxess in the 2nd quarter worth approximately $25,000. Geneos Wealth Management Inc. lifted its stake in shares of MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 80 shares during the period. Activest Wealth Management acquired a new position in shares of MarketAxess in the 4th quarter valued at $28,000. Pacer Advisors Inc. boosted its holdings in MarketAxess by 300.0% during the fourth quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider’s stock worth $51,000 after buying an additional 210 shares in the last quarter. Finally, Westpac Banking Corp purchased a new stake in MarketAxess during the first quarter worth $56,000. 99.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MKTX has been the topic of several analyst reports. The Goldman Sachs Group dropped their price target on shares of MarketAxess from $168.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Piper Sandler lowered their target price on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Rothschild & Co Redburn restated a “neutral” rating and set a $134.00 target price (down from $189.00) on shares of MarketAxess in a research report on Thursday, June 11th. Bank of America upgraded MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 target price on the stock in a research report on Friday, June 12th. Finally, Benchmark restated a “buy” rating on shares of MarketAxess in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MarketAxess presently has an average rating of “Hold” and a consensus price target of $160.18.
MarketAxess Stock Performance
MKTX opened at $162.28 on Tuesday. The firm’s fifty day simple moving average is $120.99 and its two-hundred day simple moving average is $151.62. MarketAxess Holdings Inc. has a 52-week low of $108.75 and a 52-week high of $210.05. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 16.05 and a beta of 0.83. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.19.
MarketAxess (NASDAQ:MKTX – Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. The business had revenue of $218.00 million during the quarter, compared to analysts’ expectations of $216.70 million. During the same quarter in the previous year, the company earned $2.00 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts anticipate that MarketAxess Holdings Inc. will post 8.03 earnings per share for the current fiscal year.
MarketAxess Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, August 19th. MarketAxess’s payout ratio is presently 36.79%.
MarketAxess Profile
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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