State Board of Administration of Florida Retirement System Raises Holdings in MarketAxess Holdings, Inc. (MKTX)
State Board of Administration of Florida Retirement System raised its stake in MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,967 shares of the financial services provider’s stock after purchasing an additional 970 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.12% of MarketAxess Holdings worth $8,481,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its holdings in MarketAxess Holdings by 2.1% in the 2nd quarter. BlackRock Inc. now owns 3,063,588 shares of the financial services provider’s stock valued at $616,087,000 after purchasing an additional 62,914 shares during the period. Vanguard Group Inc. lifted its holdings in shares of MarketAxess Holdings by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,894,267 shares of the financial services provider’s stock worth $582,038,000 after acquiring an additional 38,702 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of MarketAxess Holdings by 5.1% during the 2nd quarter. Baillie Gifford & Co. now owns 2,752,949 shares of the financial services provider’s stock worth $553,618,000 after acquiring an additional 134,588 shares during the period. State Street Corp lifted its holdings in shares of MarketAxess Holdings by 0.4% during the 2nd quarter. State Street Corp now owns 984,978 shares of the financial services provider’s stock worth $198,075,000 after acquiring an additional 4,168 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of MarketAxess Holdings by 8.4% during the 2nd quarter. Franklin Resources Inc. now owns 869,065 shares of the financial services provider’s stock worth $174,782,000 after acquiring an additional 67,254 shares during the period. 90.18% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on MKTX shares. Zacks Investment Research downgraded shares of MarketAxess Holdings from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. BidaskClub raised shares of MarketAxess Holdings from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, Raymond James Financial, Inc. raised their price objective on shares of MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $192.40.
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MarketAxess Holdings, Inc. (MKTX) opened at $173.49 on Monday. MarketAxess Holdings, Inc. has a 1-year low of $145.10 and a 1-year high of $211.06. The company has a market cap of $6,512.28, a PE ratio of 44.60 and a beta of 0.66.
MarketAxess Holdings (NASDAQ:MKTX) last announced its quarterly 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. MarketAxess Holdings had a net margin of 37.67% and a return on equity of 30.12%. The firm had revenue of $96.70 million during the quarter, compared to the consensus estimate of $96.35 million. During the same period last year, the firm posted $0.82 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. equities analysts predict that MarketAxess Holdings, Inc. will post 3.91 EPS for the current year.
MarketAxess Holdings declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, November 7th. MarketAxess Holdings’s dividend payout ratio is currently 33.93%.
In related news, insider Nicholas Themelis sold 4,000 shares of MarketAxess Holdings stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $176.40, for a total transaction of $705,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard M. Mcvey sold 35,000 shares of MarketAxess Holdings stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $178.29, for a total transaction of $6,240,150.00. Following the transaction, the chief executive officer now directly owns 1,113,076 shares of the company’s stock, valued at $198,450,320.04. The disclosure for this sale can be found here. Company insiders own 4.02% of the company’s stock.
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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