Northern Trust Corp raised its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 29.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,741 shares of the financial services provider’s stock after purchasing an additional 90,629 shares during the period. Northern Trust Corp owned about 1.05% of MarketAxess worth $127,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. CWM LLC grew its holdings in shares of MarketAxess by 60.7% during the second quarter. CWM LLC now owns 90 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 34 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in MarketAxess in the second quarter valued at approximately $36,000. Kavar Capital Partners LLC acquired a new position in MarketAxess in the second quarter valued at approximately $40,000. AdvisorNet Financial Inc lifted its holdings in MarketAxess by 41.7% in the second quarter. AdvisorNet Financial Inc now owns 170 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 50 shares during the period. Finally, Robeco Institutional Asset Management B.V. acquired a new position in MarketAxess in the second quarter valued at approximately $71,000. 99.91% of the stock is currently owned by institutional investors.
Shares of MKTX traded down $9.85 during trading hours on Friday, hitting $335.29. 7,932 shares of the stock were exchanged, compared to its average volume of 328,998. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.05 and a current ratio of 10.05. MarketAxess Holdings Inc. has a 12-month low of $172.09 and a 12-month high of $421.45. The company has a market cap of $12.92 billion, a price-to-earnings ratio of 73.63 and a beta of 0.17. The stock’s 50-day moving average price is $370.45 and its two-hundred day moving average price is $307.54.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, August 6th. MarketAxess’s payout ratio is 44.64%.
A number of brokerages have issued reports on MKTX. BidaskClub downgraded MarketAxess from a “strong-buy” rating to a “buy” rating in a report on Thursday. Buckingham Research downgraded MarketAxess from a “neutral” rating to an “underperform” rating and set a $245.00 target price for the company. in a research note on Wednesday, June 12th. Argus began coverage on MarketAxess in a research note on Thursday, August 29th. They set a “hold” rating for the company. Deutsche Bank upped their target price on MarketAxess from $332.00 to $336.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Finally, ValuEngine downgraded MarketAxess from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $277.20.
In related news, insider Nicholas Themelis sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $347.39, for a total transaction of $955,322.50. Following the completion of the sale, the insider now directly owns 53,064 shares in the company, valued at $18,433,902.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $350.07, for a total value of $7,001,400.00. Following the sale, the chief executive officer now owns 1,044,249 shares of the company’s stock, valued at $365,560,247.43. The disclosure for this sale can be found here. Insiders have sold 23,750 shares of company stock valued at $8,359,543 over the last quarter. 3.28% of the stock is owned by company insiders.
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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