Kornitzer Capital Management Inc. KS raised its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 285.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,186 shares of the financial services provider’s stock after acquiring an additional 26,066 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.09% of MarketAxess worth $11,523,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Capital Management Inc. ADV acquired a new position in shares of MarketAxess in the third quarter worth $28,000. CWM LLC increased its stake in MarketAxess by 60.7% in the second quarter. CWM LLC now owns 90 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 34 shares during the last quarter. Squar Milner Financial Services LLC increased its stake in MarketAxess by 1,250.0% in the third quarter. Squar Milner Financial Services LLC now owns 108 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 100 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in MarketAxess in the second quarter valued at $36,000. Finally, Kavar Capital Partners LLC acquired a new position in MarketAxess in the second quarter valued at $40,000. 98.81% of the stock is owned by institutional investors.
In other MarketAxess news, Director Stephen P. Casper sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $402.82, for a total transaction of $402,820.00. Following the completion of the sale, the director now owns 13,567 shares of the company’s stock, valued at $5,465,058.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.28% of the stock is currently owned by insiders.
MKTX stock traded down $1.56 during trading on Friday, reaching $348.04. 11,337 shares of the stock traded hands, compared to its average volume of 277,474. The business’s 50 day moving average price is $345.18 and its 200-day moving average price is $335.59. MarketAxess Holdings Inc. has a 52-week low of $199.04 and a 52-week high of $421.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.47 and a quick ratio of 9.47. The firm has a market capitalization of $12.99 billion, a PE ratio of 76.22 and a beta of 0.16.
MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.17. MarketAxess had a return on equity of 30.89% and a net margin of 40.58%. The firm had revenue of $131.60 million during the quarter, compared to the consensus estimate of $130.00 million. During the same quarter in the previous year, the business earned $1.02 earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, equities research analysts predict that MarketAxess Holdings Inc. will post 5.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, November 5th. This is an increase from MarketAxess’s previous quarterly dividend of $0.20. MarketAxess’s payout ratio is 44.64%.
MKTX has been the subject of several analyst reports. Jefferies Financial Group upped their target price on MarketAxess from $318.00 to $339.00 and gave the company a “hold” rating in a research note on Friday, September 27th. Argus initiated coverage on MarketAxess in a research note on Thursday, August 29th. They issued a “hold” rating for the company. Buckingham Research upped their target price on MarketAxess from $249.00 to $251.00 and gave the company an “underperform” rating in a research note on Thursday, October 24th. Barclays set a $325.00 target price on MarketAxess and gave the company a “hold” rating in a research note on Friday, October 11th. Finally, Deutsche Bank upped their target price on MarketAxess from $347.00 to $349.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $296.67.
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.
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