Parvin Asset Management LLC Has $1.05 Million Holdings in MarketAxess Holdings Inc. $MKTX

Parvin Asset Management LLC grew its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 327.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,774 shares of the financial services provider’s stock after purchasing an additional 4,424 shares during the period. Parvin Asset Management LLC’s holdings in MarketAxess were worth $1,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Jefferies Financial Group Inc. grew its stake in shares of MarketAxess by 444.2% in the third quarter. Jefferies Financial Group Inc. now owns 38,093 shares of the financial services provider’s stock valued at $6,638,000 after buying an additional 31,093 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of MarketAxess by 305.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 46,537 shares of the financial services provider’s stock valued at $8,449,000 after buying an additional 35,056 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of MarketAxess by 163.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 12,579 shares of the financial services provider’s stock valued at $2,280,000 after buying an additional 7,798 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of MarketAxess by 66.6% in the third quarter. Primecap Management Co. CA now owns 2,230,595 shares of the financial services provider’s stock valued at $388,681,000 after buying an additional 891,303 shares in the last quarter. Finally, North Reef Capital Management LP grew its stake in shares of MarketAxess by 117.0% in the third quarter. North Reef Capital Management LP now owns 911,358 shares of the financial services provider’s stock valued at $158,804,000 after buying an additional 491,358 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

MarketAxess Trading Up 3.1%

MKTX stock opened at $124.81 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.17 and a quick ratio of 2.17. The company has a fifty day moving average price of $145.84 and a two-hundred day moving average price of $164.78. MarketAxess Holdings Inc. has a one year low of $113.29 and a one year high of $225.59. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 3.92 and a beta of 0.86.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.10. MarketAxess had a net margin of 35.53% and a return on equity of 22.28%. The firm had revenue of $233.38 million during the quarter, compared to analysts’ expectations of $231.91 million. During the same period in the previous year, the business posted $1.87 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts anticipate that MarketAxess Holdings Inc. will post 8 EPS for the current year.

MarketAxess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, May 20th. MarketAxess’s payout ratio is 36.88%.

Wall Street Analyst Weigh In

MKTX has been the subject of several analyst reports. Argus cut shares of MarketAxess from a “buy” rating to a “hold” rating in a research note on Tuesday, March 17th. Barclays decreased their target price on shares of MarketAxess from $189.00 to $170.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. UBS Group decreased their target price on shares of MarketAxess from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Weiss Ratings cut shares of MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Finally, Rothschild & Co Redburn reissued a “neutral” rating and issued a $134.00 target price (down from $189.00) on shares of MarketAxess in a research note on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, MarketAxess presently has an average rating of “Hold” and an average price target of $183.10.

MarketAxess Company Profile

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.