MarketAxess Holdings, Inc. (MKTX) Insider Sells $705,600.00 in Stock
MarketAxess Holdings, Inc. (NASDAQ:MKTX) insider Nicholas Themelis sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $176.40, for a total value of $705,600.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
MarketAxess Holdings, Inc. (MKTX) traded up $1.27 during trading on Friday, hitting $177.00. The stock had a trading volume of 242,348 shares, compared to its average volume of 281,498. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 45.37 and a beta of 0.66.
MarketAxess Holdings (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.90. MarketAxess Holdings had a return on equity of 30.12% and a net margin of 37.67%. The company had revenue of $96.70 million during the quarter, compared to the consensus estimate of $96.35 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. sell-side analysts anticipate that MarketAxess Holdings, Inc. will post 3.91 EPS for the current year.
MarketAxess Holdings declared that its board has initiated a stock buyback plan on Wednesday, October 25th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 7th. MarketAxess Holdings’s dividend payout ratio is currently 33.93%.
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Institutional investors have recently added to or reduced their stakes in the company. Cutler Group LP acquired a new position in shares of MarketAxess Holdings in the second quarter valued at approximately $110,000. First Personal Financial Services increased its stake in shares of MarketAxess Holdings by 2.6% in the second quarter. First Personal Financial Services now owns 631 shares of the financial services provider’s stock valued at $127,000 after buying an additional 16 shares during the period. GQG Partners LLC acquired a new position in shares of MarketAxess Holdings in the second quarter valued at approximately $127,000. Traynor Capital Management Inc. acquired a new position in shares of MarketAxess Holdings in the second quarter valued at approximately $203,000. Finally, Sciencast Management LP increased its stake in shares of MarketAxess Holdings by 14.4% in the second quarter. Sciencast Management LP now owns 1,226 shares of the financial services provider’s stock valued at $247,000 after buying an additional 154 shares during the period. 90.17% of the stock is owned by institutional investors.
Several brokerages have commented on MKTX. Keefe, Bruyette & Woods reissued a “buy” rating and set a $210.00 target price on shares of MarketAxess Holdings in a research note on Friday, July 14th. Zacks Investment Research raised MarketAxess Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. BidaskClub raised MarketAxess Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Raymond James Financial, Inc. boosted their target price on MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. One 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 stock. MarketAxess Holdings presently has an average rating of “Buy” and a consensus target price of $192.40.
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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