Baillie Gifford & Co. Reduces Holdings in MarketAxess Holdings, Inc. (MKTX)
Baillie Gifford & Co. trimmed its position in MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,713,221 shares of the financial services provider’s stock after selling 39,728 shares during the period. Baillie Gifford & Co. owned about 7.23% of MarketAxess Holdings worth $500,617,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. D.A. Davidson & CO. boosted its position in MarketAxess Holdings by 0.5% in the second quarter. D.A. Davidson & CO. now owns 1,380 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 7 shares during the last quarter. First Personal Financial Services boosted its position in MarketAxess Holdings by 2.6% in the second quarter. First Personal Financial Services now owns 631 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 16 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in MarketAxess Holdings by 2.5% in the second quarter. Coldstream Capital Management Inc. now owns 1,610 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 40 shares during the last quarter. Teacher Retirement System of Texas boosted its position in MarketAxess Holdings by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 2,999 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 43 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its position in MarketAxess Holdings by 1.1% in the second quarter. Capstone Asset Management Co. now owns 5,056 shares of the financial services provider’s stock worth $1,017,000 after purchasing an additional 57 shares during the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.
MarketAxess Holdings, Inc. (NASDAQ MKTX) traded up 0.83% on Wednesday, hitting $175.45. The stock had a trading volume of 95,553 shares. The company’s 50 day moving average is $184.01 and its 200-day moving average is $191.18. MarketAxess Holdings, Inc. has a 12 month low of $145.10 and a 12 month high of $211.06. The stock has a market cap of $6.59 billion, a P/E ratio of 46.15 and a beta of 0.71.
MarketAxess Holdings (NASDAQ:MKTX) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates of $0.90. MarketAxess Holdings had a return on equity of 30.12% and a net margin of 37.67%. The firm had revenue of $96.70 million for the quarter, compared to the consensus estimate of $96.35 million. During the same quarter in the prior year, the business earned $0.82 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. Analysts forecast that MarketAxess Holdings, Inc. will post $3.96 EPS for the current year.
The business also recently announced 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. The ex-dividend date is Tuesday, November 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.76%. MarketAxess Holdings’s payout ratio is 33.93%.
MarketAxess Holdings declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 25th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other news, CEO Richard M. Mcvey sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $198.63, for a total value of $3,972,600.00. Following the sale, the chief executive officer now owns 1,108,142 shares in the company, valued at $220,110,245.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.02% of the stock is owned by corporate insiders.
Several research analysts have issued reports on the company. Zacks Investment Research cut MarketAxess Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. BidaskClub cut MarketAxess Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Raymond James Financial, Inc. raised their target price on MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $210.00 target price on shares of MarketAxess Holdings in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. MarketAxess Holdings currently has a consensus rating of “Buy” and a consensus price target of $192.40.
MarketAxess Holdings Profile
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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