MarketAxess Holdings, Inc. (MKTX) Shares Bought by Burgundy Asset Management Ltd.
Burgundy Asset Management Ltd. boosted its position in shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 463,012 shares of the financial services provider’s stock after buying an additional 18,757 shares during the period. Burgundy Asset Management Ltd. owned 1.23% of MarketAxess worth $85,430,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MKTX. First Personal Financial Services increased its position in MarketAxess 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 buying an additional 16 shares during the period. GQG Partners LLC acquired a new position in MarketAxess during the second quarter worth approximately $127,000. Sciencast Management LP increased its position in MarketAxess 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 buying an additional 154 shares during the period. First Republic Investment Management Inc. increased its position in MarketAxess by 30.8% during the third quarter. First Republic Investment Management Inc. now owns 1,373 shares of the financial services provider’s stock worth $253,000 after buying an additional 323 shares during the period. Finally, TrimTabs Asset Management LLC acquired a new position in MarketAxess during the second quarter worth approximately $260,000. 92.84% of the stock is currently owned by institutional investors.
MarketAxess Holdings, Inc. (NASDAQ:MKTX) opened at $195.07 on Friday. MarketAxess Holdings, Inc. has a 12 month low of $145.10 and a 12 month high of $211.06. The firm has a market capitalization of $7,366.63, a P/E ratio of 50.45 and a beta of 0.69.
MarketAxess (NASDAQ:MKTX) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share for the quarter, meeting the consensus estimate of $0.90. MarketAxess had a return on equity of 30.12% and a net margin of 37.67%. The company had revenue of $96.70 million for the quarter, compared to the consensus estimate of $96.35 million. During the same period last year, the business posted $0.82 EPS. The company’s revenue was up 7.1% on a year-over-year basis. analysts expect that MarketAxess Holdings, Inc. will post 3.91 EPS for the current year.
MarketAxess announced that its board has authorized a share buyback plan on Wednesday, October 25th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were paid a $0.33 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $1.32 annualized dividend and a dividend yield of 0.68%. MarketAxess’s dividend payout ratio (DPR) is currently 33.93%.
In other MarketAxess news, Director John Steinhardt sold 4,225 shares of MarketAxess stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $174.00, for a total value of $735,150.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen P. Casper sold 2,000 shares of MarketAxess stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $195.84, for a total value of $391,680.00. The disclosure for this sale can be found here. Insiders sold a total of 50,225 shares of company stock worth $8,955,630 over the last quarter. Company insiders own 4.02% of the company’s stock.
Several research analysts have commented on MKTX shares. Zacks Investment Research raised MarketAxess from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Rosenblatt Securities started coverage on MarketAxess in a research report on Thursday. They set a “neutral” rating and a $190.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $192.00.
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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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