Sanctuary Advisors LLC bought a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,676 shares of the financial services provider’s stock, valued at approximately $1,325,000.
A number of other hedge funds also recently made changes to their positions in MKTX. MUFG Securities EMEA plc bought a new stake in shares of MarketAxess during the 2nd quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its stake in 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 last quarter. Activest Wealth Management bought a new position in MarketAxess in the 4th quarter valued at approximately $28,000. Versant Capital Management Inc boosted its position in MarketAxess by 215.3% in the second quarter. Versant Capital Management Inc now owns 391 shares of the financial services provider’s stock valued at $44,000 after buying an additional 267 shares in the last quarter. Finally, State of Wyoming acquired a new stake in MarketAxess in the second quarter valued at approximately $49,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on MKTX shares. Barclays upped their price target on shares of MarketAxess from $132.00 to $167.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. UBS Group lowered MarketAxess from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $200.00 to $167.00 in a research report on Friday, July 31st. Benchmark reaffirmed a “buy” rating on shares of MarketAxess in a report on Wednesday, July 8th. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $134.00 target price (down from $189.00) on shares of MarketAxess in a research report on Thursday, June 11th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $167.00 price target (up from $150.00) on shares of MarketAxess in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, MarketAxess presently has a consensus rating of “Hold” and a consensus price target of $156.10.
MarketAxess Stock Performance
Shares of MarketAxess stock opened at $162.46 on Friday. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 2.07 and a beta of 0.83. MarketAxess Holdings Inc. has a twelve month low of $108.75 and a twelve month high of $195.96. The company’s fifty day moving average is $135.29 and its 200 day moving average is $150.74. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.09.
MarketAxess (NASDAQ:MKTX – Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.The business had revenue of $218.41 million during the quarter, compared to analyst estimates of $216.70 million. During the same period last year, the company earned $2.00 EPS. MarketAxess’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts forecast that MarketAxess Holdings Inc. will post 8.06 EPS for the current year.
MarketAxess Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Wednesday, August 19th. MarketAxess’s dividend payout ratio (DPR) is 36.79%.
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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