MarketAxess Holdings, Inc. (MKTX) Insider Nicholas Themelis Sells 4,000 Shares
MarketAxess Holdings, Inc. (NASDAQ:MKTX) insider Nicholas Themelis sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $176.40, for a total value of $705,600.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
MarketAxess Holdings, Inc. (NASDAQ:MKTX) traded up $1.27 during trading on Friday, reaching $177.00. 238,567 shares of the company’s stock traded hands, compared to its average volume of 281,498. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 45.37 and a beta of 0.66.
MarketAxess Holdings (NASDAQ:MKTX) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. The firm had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $96.35 million. MarketAxess Holdings had a return on equity of 30.12% and a net margin of 37.67%. MarketAxess Holdings’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. sell-side analysts forecast that MarketAxess Holdings, Inc. will post 3.91 earnings per share for the current fiscal year.
MarketAxess Holdings announced that its board has initiated a stock repurchase program on Wednesday, October 25th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 7th. MarketAxess Holdings’s dividend payout ratio (DPR) is 33.93%.
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Several hedge funds have recently bought and sold shares of MKTX. Cutler Group LP acquired a new stake in shares of MarketAxess Holdings during the second quarter worth $110,000. First Personal Financial Services boosted its holdings in shares of MarketAxess Holdings by 2.6% during the second quarter. First Personal Financial Services now owns 631 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 16 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of MarketAxess Holdings during the second quarter worth $127,000. Traynor Capital Management Inc. acquired a new stake in shares of MarketAxess Holdings during the second quarter worth $203,000. Finally, Sciencast Management LP boosted its holdings in shares of MarketAxess Holdings by 14.4% during the second quarter. Sciencast Management LP now owns 1,226 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.
Several equities research analysts recently commented on the company. Raymond James Financial, Inc. boosted their target price on MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. BidaskClub raised MarketAxess Holdings from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research cut MarketAxess Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $210.00 target price on shares of MarketAxess Holdings in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. MarketAxess Holdings presently has a consensus rating of “Buy” and a consensus price target of $192.40.
MarketAxess Holdings Company Profile
MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.
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