Rovin Capital UT ADV Has $551,000 Stock Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Rovin Capital UT ADV grew its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 20.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,748 shares of the financial services provider’s stock after purchasing an additional 465 shares during the period. Rovin Capital UT ADV’s holdings in MarketAxess were worth $551,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC raised its stake in MarketAxess by 1,030.8% during the 1st quarter. Venturi Wealth Management LLC now owns 147 shares of the financial services provider’s stock worth $32,000 after buying an additional 134 shares during the period. Parallel Advisors LLC raised its position in shares of MarketAxess by 155.8% during the fourth quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 67 shares during the period. Larson Financial Group LLC lifted its holdings in shares of MarketAxess by 2,428.6% in the 1st quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 170 shares in the last quarter. Blue Trust Inc. grew its position in MarketAxess by 405.1% in the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 158 shares during the period. Finally, Principal Securities Inc. bought a new stake in MarketAxess during the 4th quarter valued at $47,000. Institutional investors own 99.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group dropped their price objective on shares of MarketAxess from $305.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on MarketAxess from $218.00 to $223.00 and gave the stock a “hold” rating in a report on Thursday. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of MarketAxess in a report on Tuesday, August 6th. Barclays dropped their price target on shares of MarketAxess from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, StockNews.com upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, MarketAxess presently has a consensus rating of “Hold” and a consensus target price of $238.60.

Insider Activity

In other MarketAxess news, Director Stephen P. Casper sold 500 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $199.48, for a total transaction of $99,740.00. Following the sale, the director now owns 10,201 shares in the company, valued at $2,034,895.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Stephen P. Casper sold 500 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $199.48, for a total value of $99,740.00. Following the sale, the director now directly owns 10,201 shares of the company’s stock, valued at $2,034,895.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christophe Pierre Danie Roupie sold 617 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $231.63, for a total transaction of $142,915.71. Following the transaction, the insider now directly owns 7,409 shares of the company’s stock, valued at approximately $1,716,146.67. The disclosure for this sale can be found here. Insiders own 2.66% of the company’s stock.

MarketAxess Trading Up 0.0 %

Shares of NASDAQ:MKTX traded up $0.10 during mid-day trading on Friday, reaching $234.00. The company had a trading volume of 355,937 shares, compared to its average volume of 421,704. The company’s 50-day moving average price is $213.62 and its 200-day moving average price is $213.79. MarketAxess Holdings Inc. has a one year low of $192.42 and a one year high of $297.97. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 5.87 and a beta of 1.03.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. MarketAxess had a return on equity of 20.82% and a net margin of 33.83%. The firm had revenue of $197.70 million for the quarter, compared to analysts’ expectations of $198.07 million. During the same quarter in the prior year, the firm earned $1.63 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, research analysts anticipate that MarketAxess Holdings Inc. will post 7 EPS for the current fiscal year.

MarketAxess Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be paid a $0.74 dividend. This is an increase from MarketAxess’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, August 21st. This represents a $2.96 annualized dividend and a dividend yield of 1.26%. MarketAxess’s dividend payout ratio (DPR) is presently 43.47%.

MarketAxess declared that its board has approved a share buyback program on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About MarketAxess

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.