Cambridge Investment Research Advisors Inc. Buys 5,615 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Cambridge Investment Research Advisors Inc. increased its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 766.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,348 shares of the financial services provider’s stock after buying an additional 5,615 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in MarketAxess were worth $3,180,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CENTRAL TRUST Co boosted its position in MarketAxess by 95.6% in the second quarter. CENTRAL TRUST Co now owns 2,290 shares of the financial services provider’s stock worth $1,148,000 after purchasing an additional 1,119 shares during the last quarter. State of Alaska Department of Revenue boosted its position in MarketAxess by 78.0% in the second quarter. State of Alaska Department of Revenue now owns 26,509 shares of the financial services provider’s stock worth $13,278,000 after purchasing an additional 11,614 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in MarketAxess by 45.9% in the second quarter. Envestnet Asset Management Inc. now owns 52,931 shares of the financial services provider’s stock worth $26,513,000 after purchasing an additional 16,645 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in MarketAxess by 72.5% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 6,853 shares of the financial services provider’s stock worth $2,279,000 after purchasing an additional 2,881 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in MarketAxess by 270.3% in the first quarter. The Manufacturers Life Insurance Company now owns 136,122 shares of the financial services provider’s stock worth $45,271,000 after purchasing an additional 99,363 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Shares of MKTX opened at $516.70 on Friday. The stock’s 50-day simple moving average is $514.01 and its 200 day simple moving average is $426.10. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 74.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.11, a quick ratio of 7.53 and a current ratio of 7.42. MarketAxess Holdings Inc. has a 52-week low of $275.49 and a 52-week high of $561.68.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.08. The business had revenue of $184.80 million for the quarter, compared to analyst estimates of $185.16 million. MarketAxess had a return on equity of 33.75% and a net margin of 42.74%. During the same period in the prior year, the company earned $1.27 EPS. On average, research analysts forecast that MarketAxess Holdings Inc. will post 7.55 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 0.46%. MarketAxess’s dividend payout ratio is currently 44.44%.

A number of research analysts have recently commented on MKTX shares. BidaskClub cut MarketAxess from a “buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Credit Suisse Group upped their price target on MarketAxess from $410.00 to $448.00 and gave the company a “neutral” rating in a research report on Tuesday, June 9th. Piper Sandler upped their price target on MarketAxess from $520.00 to $535.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Rosenblatt Securities upped their price target on MarketAxess from $455.00 to $465.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Finally, Deutsche Bank upped their price target on MarketAxess from $535.00 to $555.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $403.00.

In other MarketAxess news, General Counsel Scott Pintoff sold 250 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $481.13, for a total value of $120,282.50. Following the transaction, the general counsel now directly owns 8,089 shares in the company, valued at approximately $3,891,860.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christophe Pierre Danie Roupie sold 1,920 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $457.00, for a total value of $877,440.00. Following the transaction, the insider now owns 10,914 shares in the company, valued at $4,987,698. The disclosure for this sale can be found here. Insiders sold a total of 29,170 shares of company stock worth $14,047,103 over the last 90 days. Corporate insiders own 3.05% of the company’s stock.

About MarketAxess

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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Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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