Fred Alger Management Inc. Acquires 72,110 Shares of MarketAxess Holdings, Inc. (MKTX)
Fred Alger Management Inc. raised its position in shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 51.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,506 shares of the company’s stock after buying an additional 72,110 shares during the period. Fred Alger Management Inc. owned about 0.58% of MarketAxess Holdings worth $31,221,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of MKTX. Roosevelt Investment Group Inc. increased its stake in MarketAxess Holdings by 1,224.4% in the second quarter. Roosevelt Investment Group Inc. now owns 41,201 shares of the company’s stock worth $5,991,000 after buying an additional 38,090 shares in the last quarter. Fiera Capital Corp acquired a new stake in MarketAxess Holdings during the second quarter worth about $45,736,000. FDx Advisors Inc. acquired a new stake in MarketAxess Holdings during the second quarter worth about $221,000. Paloma Partners Management Co increased its stake in MarketAxess Holdings by 578.2% in the second quarter. Paloma Partners Management Co now owns 74,462 shares of the company’s stock worth $10,826,000 after buying an additional 63,483 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new stake in MarketAxess Holdings during the second quarter worth about $11,617,000. 89.11% of the stock is owned by hedge funds and other institutional investors.
Shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) traded down 0.01% during mid-day trading on Thursday, hitting $191.68. 82,993 shares of the stock were exchanged. MarketAxess Holdings, Inc. has a 52 week low of $110.07 and a 52 week high of $194.12. The stock’s 50-day moving average is $170.71 and its 200-day moving average is $164.59. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 57.39 and a beta of 0.70.
MarketAxess Holdings (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, January 25th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. MarketAxess Holdings had a net margin of 34.11% and a return on equity of 28.57%. The business earned $94.40 million during the quarter, compared to the consensus estimate of $93.74 million. During the same quarter last year, the company posted $0.65 earnings per share. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. Analysts forecast that MarketAxess Holdings, Inc. will post $4.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 23rd. Investors of record on Thursday, February 9th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Tuesday, February 7th. This is an increase from MarketAxess Holdings’s previous quarterly dividend of $0.26. MarketAxess Holdings’s dividend payout ratio (DPR) is 39.40%.
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A number of research firms have issued reports on MKTX. Macquarie raised shares of MarketAxess Holdings from an “underperform” rating to a “neutral” rating and set a $178.00 price objective for the company in a report on Tuesday, January 31st. Credit Suisse Group began coverage on shares of MarketAxess Holdings in a report on Monday, November 21st. They issued a “sell” rating for the company. Zacks Investment Research raised shares of MarketAxess Holdings from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a report on Thursday, January 5th. Goldman Sachs Group, Inc. (The) began coverage on shares of MarketAxess Holdings in a report on Friday, January 6th. They issued a “conviction-buy” rating and a $185.00 price objective for the company. Finally, Raymond James Financial, Inc. raised shares of MarketAxess Holdings from a “market perform” rating to an “outperform” rating and set a $175.00 price objective for the company in a report on Tuesday, January 3rd. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. MarketAxess Holdings has an average rating of “Buy” and a consensus price target of $175.17.
In related news, CEO Richard M. Mcvey sold 18,829 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $188.68, for a total transaction of $3,552,655.72. Following the completion of the sale, the chief executive officer now owns 1,073,037 shares in the company, valued at $202,460,621.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald M. Hersch sold 12,000 shares of the firm’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $189.01, for a total transaction of $2,268,120.00. Following the sale, the director now owns 34,981 shares of the company’s stock, valued at approximately $6,611,758.81. The disclosure for this sale can be found here. Insiders have sold 54,667 shares of company stock valued at $10,327,606 in the last 90 days. 4.51% of the stock is currently owned by corporate insiders.
About MarketAxess Holdings
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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