Weitz Investment Management Inc. Makes New $17.52 Million Investment in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Weitz Investment Management Inc. bought a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 37,800 shares of the financial services provider’s stock, valued at approximately $17,524,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Lloyd Advisory Services LLC. lifted its holdings in MarketAxess by 50.0% during the 2nd quarter. Lloyd Advisory Services LLC. now owns 72 shares of the financial services provider’s stock worth $33,000 after buying an additional 24 shares in the last quarter. Signaturefd LLC raised its holdings in shares of MarketAxess by 14.0% in the 1st quarter. Signaturefd LLC now owns 204 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 25 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of MarketAxess by 9.7% in the 1st quarter. Quadrant Capital Group LLC now owns 294 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 26 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in shares of MarketAxess by 5.1% in the 1st quarter. HBK Sorce Advisory LLC now owns 535 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 26 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of MarketAxess by 1.2% in the 1st quarter. Nordea Investment Management AB now owns 2,180 shares of the financial services provider’s stock valued at $1,093,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 94.39% of the company’s stock.

A number of equities research analysts have recently weighed in on MKTX shares. Rosenblatt Securities reduced their price objective on shares of MarketAxess from $625.00 to $569.00 and set a “buy” rating on the stock in a report on Thursday, June 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of MarketAxess from $430.00 to $427.00 and set a “hold” rating on the stock in a report on Thursday, July 22nd. Morgan Stanley reduced their price objective on shares of MarketAxess from $470.00 to $459.00 and set an “equal weight” rating on the stock in a report on Wednesday. Piper Sandler reduced their price objective on shares of MarketAxess from $483.00 to $475.00 and set a “neutral” rating on the stock in a report on Wednesday, July 7th. Finally, Raymond James dropped their target price on shares of MarketAxess from $580.00 to $530.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 7th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, MarketAxess currently has a consensus rating of “Hold” and a consensus price target of $532.00.

Shares of NASDAQ MKTX traded up $6.69 during mid-day trading on Wednesday, reaching $432.93. The company had a trading volume of 1,596 shares, compared to its average volume of 258,675. The firm has a 50 day simple moving average of $467.20 and a two-hundred day simple moving average of $479.61. The stock has a market cap of $16.44 billion, a P/E ratio of 56.31 and a beta of 0.36. MarketAxess Holdings Inc. has a 52-week low of $420.79 and a 52-week high of $606.45.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Tuesday, July 20th. The financial services provider reported $1.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.08. MarketAxess had a net margin of 40.79% and a return on equity of 29.87%. The firm had revenue of $176.30 million for the quarter, compared to the consensus estimate of $177.56 million. During the same period last year, the firm posted $2.20 EPS. The company’s revenue was down 4.6% on a year-over-year basis. Research analysts predict that MarketAxess Holdings Inc. will post 7.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 18th. Shareholders of record on Wednesday, August 4th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.61%. The ex-dividend date was Tuesday, August 3rd. MarketAxess’s payout ratio is currently 33.63%.

In other news, General Counsel Scott Pintoff sold 250 shares of MarketAxess stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $487.05, for a total value of $121,762.50. Following the sale, the general counsel now owns 5,973 shares of the company’s stock, valued at $2,909,149.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard M. Mcvey sold 12,117 shares of MarketAxess stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $484.74, for a total transaction of $5,873,594.58. Following the completion of the sale, the chief executive officer now directly owns 772,739 shares in the company, valued at approximately $374,577,502.86. The disclosure for this sale can be found here. Insiders have sold a total of 17,902 shares of company stock worth $8,631,608 over the last three months. 2.19% of the stock is currently owned by insiders.

About MarketAxess

MarketAxess Holdings, Inc operates as an electronic trading platform that allows investment industry professionals to trade corporate bonds and other types of fixed-income instruments. It also provides data and analytical tools that help its clients to make trading decisions and facilitate the trading process by electronically communicating order information between trading counterparties.

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Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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