Norris Perne & French LLP MI Boosts Stake in MarketAxess Holdings, Inc. (MKTX)
Norris Perne & French LLP MI lifted its stake in shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,619 shares of the financial services provider’s stock after buying an additional 710 shares during the period. Norris Perne & French LLP MI owned approximately 0.06% of MarketAxess Holdings worth $4,358,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Stevens Capital Management LP lifted its stake in shares of MarketAxess Holdings by 60.9% during the third quarter. Stevens Capital Management LP now owns 21,604 shares of the financial services provider’s stock worth $3,986,000 after buying an additional 8,179 shares during the period. Old Mutual Global Investors UK Ltd. lifted its stake in shares of MarketAxess Holdings by 13.2% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 41,279 shares of the financial services provider’s stock worth $7,616,000 after buying an additional 4,800 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of MarketAxess Holdings by 2.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 45,967 shares of the financial services provider’s stock worth $8,481,000 after buying an additional 970 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of MarketAxess Holdings by 20.2% during the third quarter. Canada Pension Plan Investment Board now owns 11,900 shares of the financial services provider’s stock worth $2,196,000 after buying an additional 2,000 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of MarketAxess Holdings by 21.1% during the third quarter. Victory Capital Management Inc. now owns 104,585 shares of the financial services provider’s stock worth $19,297,000 after buying an additional 18,241 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.
Several equities research analysts have recently commented on MKTX shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $210.00 price objective on shares of MarketAxess Holdings in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of MarketAxess Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Raymond James Financial, Inc. boosted 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. Finally, BidaskClub upgraded shares of MarketAxess Holdings from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $192.40.
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In related news, CEO Richard M. Mcvey sold 20,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 1,108,142 shares in the company, valued at approximately $220,110,245.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Themelis sold 4,000 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $176.40, for a total transaction of $705,600.00. The disclosure for this sale can be found here. 4.02% of the stock is owned by corporate insiders.
MarketAxess Holdings, Inc. (NASDAQ MKTX) traded up $4.28 during midday trading on Monday, reaching $181.28. 96,937 shares of the company were exchanged, compared to its average volume of 281,536. The company has a market capitalization of $6,644.04, a price-to-earnings ratio of 45.50 and a beta of 0.66.
MarketAxess Holdings (NASDAQ:MKTX) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.90. The firm had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $96.35 million. MarketAxess Holdings had a net margin of 37.67% and a return on equity of 30.12%. MarketAxess Holdings’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 EPS. research analysts anticipate that MarketAxess Holdings, Inc. will post 3.91 earnings per share for the current fiscal year.
MarketAxess Holdings announced that its board has approved a stock buyback program on Wednesday, October 25th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, November 7th. MarketAxess Holdings’s dividend payout ratio is currently 33.93%.
MarketAxess Holdings 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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