Retirement Systems of Alabama Reduces Stake in MarketAxess Holdings, Inc. (NASDAQ:MKTX)
Retirement Systems of Alabama lowered its position in MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 58,255 shares of the financial services provider’s stock after selling 122 shares during the period. Retirement Systems of Alabama’s holdings in MarketAxess Holdings were worth $11,715,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of MKTX. Cutler Group LP purchased a new position in shares of MarketAxess Holdings during the second quarter worth $110,000. Puzo Michael J purchased a new position in shares of MarketAxess Holdings during the first quarter worth $212,000. Gardiner Nancy B purchased a new position in shares of MarketAxess Holdings during the first quarter worth $224,000. Independence Trust CO purchased a new position in shares of MarketAxess Holdings during the first quarter worth $240,000. Finally, WMS Partners LLC purchased a new position in shares of MarketAxess Holdings during the first quarter worth $243,000. 90.05% of the stock is currently owned by institutional investors.
Shares of MarketAxess Holdings, Inc. (MKTX) opened at 199.05 on Thursday. The company has a market cap of $7.47 billion, a P/E ratio of 52.35 and a beta of 0.69. MarketAxess Holdings, Inc. has a one year low of $145.10 and a one year high of $211.06. The company’s 50-day moving average price is $199.36 and its 200 day moving average price is $191.75.
MarketAxess Holdings (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.08. The business had revenue of $97.31 million during the quarter, compared to analysts’ expectations of $96.42 million. MarketAxess Holdings had a return on equity of 30.38% and a net margin of 37.46%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, equities research analysts anticipate that MarketAxess Holdings, Inc. will post $4.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Tuesday, August 8th. MarketAxess Holdings’s payout ratio is 34.65%.
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MKTX has been the topic of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $210.00 target price on shares of MarketAxess Holdings in a research report on Friday, July 14th. BidaskClub raised MarketAxess Holdings from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research raised MarketAxess Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Finally, Raymond James Financial, Inc. upped their target price on MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. MarketAxess Holdings has a consensus rating of “Buy” and an average target price of $197.17.
In other MarketAxess Holdings news, Director Stephen P. Casper sold 230 shares of MarketAxess Holdings stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $184.70, for a total transaction of $42,481.00. Following the completion of the transaction, the director now owns 50,464 shares in the company, valued at $9,320,700.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin M. Mcpherson sold 9,286 shares of MarketAxess Holdings stock in a transaction on Monday, June 12th. The shares were sold at an average price of $201.35, for a total value of $1,869,736.10. Following the transaction, the insider now owns 90,929 shares of the company’s stock, valued at approximately $18,308,554.15. The disclosure for this sale can be found here. Insiders have sold 15,112 shares of company stock valued at $3,036,118 in the last quarter. 4.51% of the stock is owned by company insiders.
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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