Richard M. Mcvey Sells 35,000 Shares of MarketAxess Holdings, Inc. (MKTX) Stock
MarketAxess Holdings, Inc. (NASDAQ:MKTX) CEO Richard M. Mcvey sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $178.29, for a total value of $6,240,150.00. Following the completion of the transaction, the chief executive officer now directly owns 1,113,076 shares in the company, valued at approximately $198,450,320.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of MarketAxess Holdings, Inc. (MKTX) opened at $173.49 on Friday. The stock has a market capitalization of $6,550.20, a P/E ratio of 44.86 and a beta of 0.66. MarketAxess Holdings, Inc. has a 12 month low of $145.10 and a 12 month high of $211.06.
MarketAxess Holdings (NASDAQ:MKTX) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.90. The company had revenue of $96.70 million for the quarter, compared to the consensus estimate of $96.35 million. MarketAxess Holdings had a return on equity of 30.12% and a net margin of 37.67%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. equities analysts anticipate that MarketAxess Holdings, Inc. will post 3.91 earnings per share for the current year.
The firm also recently announced 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 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 7th. MarketAxess Holdings’s dividend payout ratio (DPR) is presently 33.93%.
MarketAxess Holdings announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
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MKTX has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $210.00 price objective on shares of MarketAxess Holdings in a research note on Friday, July 14th. Raymond James Financial, Inc. raised their price objective on MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. BidaskClub raised MarketAxess Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research raised MarketAxess Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. MarketAxess Holdings presently has a consensus rating of “Buy” and an average target price of $192.40.
Institutional investors and hedge funds have recently modified their holdings of the stock. Cutler Group LP bought a new stake in MarketAxess Holdings during the 2nd quarter valued at approximately $110,000. GQG Partners LLC bought a new stake in MarketAxess Holdings during the 2nd quarter valued at approximately $127,000. First Personal Financial Services raised its stake in MarketAxess Holdings by 2.6% during the 2nd quarter. First Personal Financial Services now owns 631 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 16 shares during the period. Traynor Capital Management Inc. bought a new stake in MarketAxess Holdings during the 2nd quarter valued at approximately $203,000. Finally, Sciencast Management LP raised its stake in MarketAxess Holdings by 14.4% during the 2nd quarter. Sciencast Management LP now owns 1,226 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 154 shares during the period. 90.02% of the stock is currently owned by institutional investors.
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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