State Board of Administration of Florida Retirement System lowered its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,202 shares of the financial services provider’s stock after selling 1,781 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.14% of MarketAxess worth $24,200,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in MKTX. E Fund Management Co. Ltd. acquired a new position in shares of MarketAxess during the 1st quarter worth about $33,000. Lloyd Advisory Services LLC. increased its position in MarketAxess by 50.0% during the second quarter. Lloyd Advisory Services LLC. now owns 72 shares of the financial services provider’s stock worth $33,000 after buying an additional 24 shares during the last quarter. CSat Investment Advisory L.P. increased its position in MarketAxess by 56.9% during the first quarter. CSat Investment Advisory L.P. now owns 80 shares of the financial services provider’s stock worth $40,000 after buying an additional 29 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of MarketAxess in the first quarter valued at approximately $71,000. Finally, Bbva USA acquired a new stake in shares of MarketAxess in the second quarter valued at approximately $74,000. 94.39% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on MKTX shares. Raymond James dropped their price target on MarketAxess from $580.00 to $530.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 7th. Morgan Stanley cut their target price on shares of MarketAxess from $470.00 to $459.00 and set an “equal weight” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of MarketAxess from $430.00 to $427.00 and set a “hold” rating for the company in a report on Thursday, July 22nd. Piper Sandler cut their price objective on shares of MarketAxess from $483.00 to $475.00 and set a “neutral” rating for the company in a research report on Wednesday, July 7th. Finally, Rosenblatt Securities reduced their price objective on MarketAxess from $625.00 to $569.00 and set a “buy” rating for the company in a report on Thursday, June 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $532.00.
MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.08. The company had revenue of $176.30 million for the quarter, compared to analysts’ expectations of $177.56 million. MarketAxess had a return on equity of 29.87% and a net margin of 40.79%. MarketAxess’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business earned $2.20 earnings per share. On average, equities analysts expect that MarketAxess Holdings Inc. will post 7.36 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 18th. Stockholders of record on Wednesday, August 4th were given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, August 3rd. MarketAxess’s payout ratio is presently 33.63%.
In other MarketAxess news, insider Kevin M. Mcpherson sold 535 shares of MarketAxess stock in a transaction dated Thursday, August 19th. The stock was sold at an average price of $474.02, for a total value of $253,600.70. Following the transaction, the insider now owns 71,623 shares in the company, valued at $33,950,734.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Scott Pintoff sold 250 shares of the firm’s stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $487.05, for a total transaction of $121,762.50. Following the completion of the sale, the general counsel now owns 5,973 shares in the company, valued at $2,909,149.65. The disclosure for this sale can be found here. Insiders sold a total of 17,902 shares of company stock valued at $8,631,608 over the last 90 days. Corporate insiders own 2.19% of the company’s stock.
MarketAxess Holdings, Inc operates as an electronic trading platform that allows investment industry professionals to trade corporate bonds and other types of fixed-income instruments. It also provides data and analytical tools that help its clients to make trading decisions and facilitate the trading process by electronically communicating order information between trading counterparties.
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