Summit Securities Group LLC Cuts Stake in MarketAxess Holdings, Inc. (MKTX)
Summit Securities Group LLC lowered its position in MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 55.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,233 shares of the financial services provider’s stock after selling 1,560 shares during the period. Summit Securities Group LLC’s holdings in MarketAxess Holdings were worth $248,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MKTX. BlackRock Inc. increased its position in MarketAxess Holdings by 16,586.2% in the first quarter. BlackRock Inc. now owns 3,000,674 shares of the financial services provider’s stock worth $562,595,000 after buying an additional 2,982,691 shares during the last quarter. Vanguard Group Inc. increased its position in MarketAxess Holdings by 5.0% in the first quarter. Vanguard Group Inc. now owns 2,855,565 shares of the financial services provider’s stock worth $535,390,000 after buying an additional 134,735 shares during the last quarter. State Street Corp increased its position in MarketAxess Holdings by 2.3% in the first quarter. State Street Corp now owns 980,810 shares of the financial services provider’s stock worth $183,883,000 after buying an additional 22,091 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in MarketAxess Holdings by 7.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 762,938 shares of the financial services provider’s stock worth $143,043,000 after buying an additional 52,903 shares during the last quarter. Finally, American Century Companies Inc. increased its position in MarketAxess Holdings by 9.5% in the first quarter. American Century Companies Inc. now owns 544,281 shares of the financial services provider’s stock worth $102,047,000 after buying an additional 47,254 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.
MarketAxess Holdings, Inc. (NASDAQ:MKTX) opened at 192.46 on Friday. MarketAxess Holdings, Inc. has a 1-year low of $145.10 and a 1-year high of $211.06. The firm has a 50-day moving average price of $198.90 and a 200-day moving average price of $192.04. The company has a market capitalization of $7.22 billion, a P/E ratio of 50.62 and a beta of 0.69.
MarketAxess Holdings (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. The firm had revenue of $97.31 million during the quarter, compared to analyst estimates of $96.42 million. MarketAxess Holdings had a return on equity of 30.38% and a net margin of 37.46%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. On average, analysts forecast that MarketAxess Holdings, Inc. will post $4.12 EPS for the current fiscal 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 issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Tuesday, August 8th. MarketAxess Holdings’s dividend payout ratio is currently 34.65%.
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MKTX has been the subject of a number of research reports. BidaskClub upgraded MarketAxess Holdings from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $210.00 price objective on shares of MarketAxess Holdings in a report on Friday, July 14th. Raymond James Financial, Inc. raised their price target on MarketAxess Holdings from $216.00 to $219.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research upgraded MarketAxess Holdings from a “hold” rating to a “strong-buy” rating and set a $221.00 price target for the company in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently 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 the business’s stock in a transaction that occurred 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 sale, the director now directly owns 50,464 shares of the company’s stock, valued at approximately $9,320,700.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin M. Mcpherson sold 9,286 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $201.35, for a total value of $1,869,736.10. Following the sale, the insider now directly owns 90,929 shares of the company’s stock, valued at $18,308,554.15. The disclosure for this sale can be found here. Insiders have sold a total of 35,112 shares of company stock valued at $7,008,718 over the last three months. Corporate insiders own 4.51% of the company’s stock.
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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