Smith Asset Management Group LP reduced its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 18.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,230 shares of the company’s stock after selling 4,440 shares during the period. Smith Asset Management Group LP owned approximately 0.05% of MarketAxess Holdings worth $2,796,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. acquired a new stake in MarketAxess Holdings during the second quarter valued at about $160,000. Bank of Montreal Can acquired a new stake in MarketAxess Holdings during the second quarter valued at about $177,000. Miles Capital Inc. acquired a new stake in MarketAxess Holdings during the first quarter valued at about $257,000. Parametrica Management Ltd acquired a new stake in MarketAxess Holdings during the second quarter valued at about $288,000. Finally, LS Investment Advisors LLC raised its stake in MarketAxess Holdings by 73.6% in the second quarter. LS Investment Advisors LLC now owns 2,265 shares of the company’s stock valued at $329,000 after buying an additional 960 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.
Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) traded down 1.21% during midday trading on Friday, reaching $170.75. The company had a trading volume of 254,666 shares. MarketAxess Holdings Inc. has a one year low of $86.19 and a one year high of $178.21. The firm has a market capitalization of $6.42 billion, a P/E ratio of 58.88 and a beta of 0.76. The company has a 50 day moving average price of $167.68 and a 200-day moving average price of $143.96.
MarketAxess Holdings (NASDAQ:MKTX) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.03. The business earned $96.60 million during the quarter, compared to the consensus estimate of $93.98 million. MarketAxess Holdings had a return on equity of 27.14% and a net margin of 32.52%. The company’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. On average, analysts anticipate that MarketAxess Holdings Inc. will post $3.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $1.04 dividend on an annualized basis and a yield of 0.61%. MarketAxess Holdings’s dividend payout ratio (DPR) is currently 35.86%.
Several analysts have issued reports on the company. Zacks Investment Research upgraded MarketAxess Holdings from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Thursday, September 15th. Keefe, Bruyette & Woods upped their price objective on MarketAxess Holdings from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. Credit Suisse Group AG restated a “sell” rating on shares of MarketAxess Holdings in a research note on Tuesday, June 28th. Raymond James Financial Inc. lowered MarketAxess Holdings from an “outperform” rating to a “market perform” rating in a research note on Friday, July 15th. Finally, Citigroup Inc. downgraded MarketAxess Holdings to a “market perform” rating in a research report on Friday, July 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $140.75.
In other MarketAxess Holdings news, CFO Antonio L. Delise sold 10,000 shares of MarketAxess Holdings stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $166.79, for a total transaction of $1,667,900.00. Following the completion of the transaction, the chief financial officer now owns 59,494 shares in the company, valued at approximately $9,923,004.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Themelis sold 6,200 shares of MarketAxess Holdings stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $165.40, for a total value of $1,025,480.00. Following the transaction, the insider now owns 70,799 shares of the company’s stock, valued at approximately $11,710,154.60. The disclosure for this sale can be found here. Company insiders own 4.51% of the company’s stock.
MarketAxess Holdings Company Profile
MarketAxess Holdings Inc (MarketAxess) is an electronic trading platform. The Company operates as an electronic multi-party platform for the trading of fixed-income securities and provides related data, analytics, compliance tools and post-trade services. The Company’s multi-dealer trading platform allows its institutional investor clients to request bids or offers from its broker-dealer clients and execute trades with the broker-dealer of their choice from among those that choose to respond.
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