MarketAxess Holdings Inc. (MKTX) CEO Sells $6,671,350.00 in Stock

MarketAxess Holdings Inc. (NASDAQ:MKTX) CEO Richard M. Mcvey sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $190.61, for a total transaction of $6,671,350.00. Following the transaction, the chief executive officer now directly owns 1,115,767 shares of the company’s stock, valued at approximately $212,676,347.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of MarketAxess Holdings Inc. (NASDAQ MKTX) traded up $0.14 on Friday, hitting $189.16. 307,538 shares of the company traded hands, compared to its average volume of 307,401. The company has a market capitalization of $7,320.08, a P/E ratio of 47.94 and a beta of 0.60. MarketAxess Holdings Inc. has a 12 month low of $171.45 and a 12 month high of $211.06.

The company also recently declared a dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, February 13th. This represents a dividend yield of 0.00215097818293557%. This is an increase from MarketAxess’s previous dividend of $0.20. MarketAxess’s dividend payout ratio (DPR) is 33.93%.

MarketAxess announced that its Board of Directors has authorized a stock buyback 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 reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC increased its position in shares of MarketAxess by 0.4% during the second quarter. Parametric Portfolio Associates LLC now owns 36,011 shares of the financial services provider’s stock valued at $7,242,000 after acquiring an additional 134 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in MarketAxess by 9.1% in the second quarter. Cubist Systematic Strategies LLC now owns 1,624 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 135 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in MarketAxess by 1.4% in the second quarter. Ameritas Investment Partners Inc. now owns 11,248 shares of the financial services provider’s stock worth $2,262,000 after purchasing an additional 156 shares during the last quarter. Stifel Financial Corp boosted its holdings in MarketAxess by 4.2% in the second quarter. Stifel Financial Corp now owns 6,701 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 271 shares during the last quarter. Finally, First Republic Investment Management Inc. boosted its holdings in MarketAxess by 30.8% in the third quarter. First Republic Investment Management Inc. now owns 1,373 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 323 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

A number of brokerages have weighed in on MKTX. Zacks Investment Research raised shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub downgraded shares of MarketAxess from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Raymond James Financial reissued a “market perform” rating on shares of MarketAxess in a research report on Monday, January 22nd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $215.00 price target on shares of MarketAxess in a research report on Friday, December 22nd. Finally, Rosenblatt Securities initiated coverage on shares of MarketAxess in a research report on Thursday, December 14th. They set a “neutral” rating and a $190.00 price target for the company. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $214.40.

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About MarketAxess

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.

Insider Buying and Selling by Quarter for MarketAxess (NASDAQ:MKTX)

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