MarketAxess Holdings, Inc. (NASDAQ:MKTX) Stake Increased by Cigna Investments Inc. New
Cigna Investments Inc. New boosted its stake in MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 65.3% during the second quarter, Holdings Channel reports. The institutional investor owned 2,764 shares of the financial services provider’s stock after buying an additional 1,092 shares during the period. Cigna Investments Inc. New’s holdings in MarketAxess Holdings were worth $556,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. KAMES CAPITAL plc boosted its position in MarketAxess Holdings by 12.8% in the first quarter. KAMES CAPITAL plc now owns 381,069 shares of the financial services provider’s stock valued at $71,447,000 after buying an additional 43,155 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in MarketAxess Holdings by 19.1% in the first quarter. Glen Harbor Capital Management LLC now owns 36,498 shares of the financial services provider’s stock valued at $6,843,000 after buying an additional 5,852 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in MarketAxess Holdings during the first quarter valued at approximately $391,000. Profund Advisors LLC boosted its position in MarketAxess Holdings by 4.8% in the first quarter. Profund Advisors LLC now owns 5,765 shares of the financial services provider’s stock valued at $1,081,000 after buying an additional 263 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its position in MarketAxess Holdings by 1.1% in the first quarter. Nationwide Fund Advisors now owns 240,950 shares of the financial services provider’s stock valued at $45,176,000 after buying an additional 2,531 shares in the last quarter. 90.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MarketAxess Holdings, Inc. (MKTX) opened at 193.26 on Tuesday. The company has a 50 day moving average of $198.66 and a 200-day moving average of $192.49. The company has a market cap of $7.25 billion, a PE ratio of 50.83 and a beta of 0.69. MarketAxess Holdings, Inc. has a 12-month low of $145.10 and a 12-month high of $211.06.
MarketAxess Holdings (NASDAQ:MKTX) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.08. MarketAxess Holdings had a net margin of 37.46% and a return on equity of 30.38%. The firm had revenue of $97.31 million for the quarter, compared to analysts’ expectations of $96.42 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts anticipate that MarketAxess Holdings, Inc. will post $4.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, August 8th. MarketAxess Holdings’s payout ratio is 34.65%.
Several research firms have commented on MKTX. BidaskClub raised shares of MarketAxess Holdings from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Raymond James Financial, Inc. lifted their target price on shares of MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Zacks Investment Research cut shares of MarketAxess Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $205.00 target price on shares of MarketAxess Holdings in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. MarketAxess Holdings currently has a consensus rating of “Buy” and a consensus price target of $197.17.
In related news, CEO Richard M. Mcvey sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $198.63, for a total transaction of $3,972,600.00. Following the transaction, the chief executive officer now owns 1,108,142 shares in the company, valued at $220,110,245.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen P. Casper sold 230 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $184.70, for a total transaction of $42,481.00. Following the transaction, the director now owns 50,464 shares in the company, valued at approximately $9,320,700.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,112 shares of company stock worth $7,008,718. Corporate insiders own 4.51% of the company’s stock.
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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