Burgundy Asset Management Ltd. Has $92.55 Million Stock Position in MarketAxess Holdings Inc. $MKTX

Burgundy Asset Management Ltd. boosted its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 414,370 shares of the financial services provider’s stock after purchasing an additional 11,859 shares during the quarter. Burgundy Asset Management Ltd. owned 1.11% of MarketAxess worth $92,545,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its position in shares of MarketAxess by 200.0% during the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after buying an additional 80 shares during the last quarter. True Wealth Design LLC increased its stake in MarketAxess by 992.9% during the second quarter. True Wealth Design LLC now owns 153 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 139 shares during the period. Harbor Investment Advisory LLC acquired a new position in MarketAxess in the 2nd quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB raised its holdings in MarketAxess by 51.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 84 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of MarketAxess by 160.5% in the 2nd quarter. Allworth Financial LP now owns 310 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 191 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

MarketAxess Trading Down 0.0%

NASDAQ MKTX opened at $167.24 on Friday. MarketAxess Holdings Inc. has a 1-year low of $156.17 and a 1-year high of $246.75. The company has a 50 day moving average of $167.80 and a 200-day moving average of $191.38. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 7.62 and a beta of 1.00.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Friday, November 7th. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. MarketAxess had a return on equity of 20.20% and a net margin of 26.16%.The business had revenue of $208.82 million for the quarter, compared to analyst estimates of $212.59 million. During the same period in the prior year, the company earned $1.90 EPS. MarketAxess’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts forecast that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 19th were paid a $0.76 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.8%. MarketAxess’s dividend payout ratio (DPR) is 51.70%.

Insider Transactions at MarketAxess

In related news, CRO Kevin M. Mcpherson sold 1,494 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $185.32, for a total transaction of $276,868.08. Following the transaction, the executive owned 67,681 shares in the company, valued at $12,542,642.92. This represents a 2.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen P. Casper sold 1,600 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $186.59, for a total transaction of $298,544.00. Following the sale, the director directly owned 43,208 shares in the company, valued at approximately $8,062,180.72. This represents a 3.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MKTX. Morgan Stanley cut MarketAxess from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $247.00 to $209.00 in a research report on Thursday, November 20th. Wall Street Zen raised shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Jefferies Financial Group reduced their price objective on shares of MarketAxess from $217.00 to $208.00 and set a “hold” rating for the company in a report on Monday, August 11th. Zacks Research raised shares of MarketAxess from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Piper Sandler set a $180.00 price objective on MarketAxess in a research note on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $205.91.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.