MarketAxess Holdings, Inc. (MKTX) Insider Sells $883,050.00 in Stock
MarketAxess Holdings, Inc. (NASDAQ:MKTX) insider Kevin M. Mcpherson sold 5,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $176.61, for a total transaction of $883,050.00. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of MarketAxess Holdings, Inc. (NASDAQ MKTX) opened at $180.40 on Monday. The firm has a market cap of $6,771.66, a P/E ratio of 46.38 and a beta of 0.66. MarketAxess Holdings, Inc. has a 52-week low of $145.10 and a 52-week high of $211.06.
MarketAxess Holdings (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.90. The business had revenue of $96.70 million for the quarter, compared to the consensus estimate of $96.35 million. MarketAxess Holdings had a net margin of 37.67% and a return on equity of 30.12%. MarketAxess Holdings’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. equities research analysts expect that MarketAxess Holdings, Inc. will post 3.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, November 7th. This represents a $1.32 annualized dividend and a yield of 0.73%. MarketAxess Holdings’s dividend payout ratio (DPR) is currently 33.93%.
MarketAxess Holdings declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 25th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.
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A number of research firms have issued reports on MKTX. Raymond James Financial, Inc. upped their target price on shares of MarketAxess Holdings from $216.00 to $219.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. BidaskClub upgraded shares of MarketAxess Holdings from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of MarketAxess Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. MarketAxess Holdings presently has a consensus rating of “Buy” and a consensus price target of $192.40.
Several institutional investors and hedge funds have recently modified their holdings of MKTX. First Personal Financial Services grew its stake in shares of MarketAxess Holdings by 2.6% during the 2nd quarter. First Personal Financial Services now owns 631 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 16 shares in the last quarter. GQG Partners LLC bought a new position in shares of MarketAxess Holdings during the 2nd quarter worth approximately $127,000. Traynor Capital Management Inc. bought a new position in shares of MarketAxess Holdings during the 2nd quarter worth approximately $203,000. Sciencast Management LP grew its stake in shares of MarketAxess Holdings by 14.4% during the 2nd quarter. Sciencast Management LP now owns 1,226 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 154 shares in the last quarter. Finally, First Republic Investment Management Inc. grew its stake in shares of MarketAxess Holdings by 30.8% during the 3rd quarter. First Republic Investment Management Inc. now owns 1,373 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 323 shares in the last quarter. 91.82% of the stock is owned by institutional investors.
About MarketAxess Holdings
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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