MarketAxess Holdings, Inc. (MKTX) Shares Sold by State Treasurer State of Michigan
State Treasurer State of Michigan trimmed its position in MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 9.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,100 shares of the financial services provider’s stock after selling 1,400 shares during the quarter. State Treasurer State of Michigan’s holdings in MarketAxess Holdings were worth $2,602,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of MKTX. Teachers Advisors LLC raised its holdings in shares of MarketAxess Holdings by 3.7% in the 1st quarter. Teachers Advisors LLC now owns 37,686 shares of the financial services provider’s stock valued at $7,066,000 after purchasing an additional 1,358 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of MarketAxess Holdings by 38.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,059 shares of the financial services provider’s stock valued at $572,000 after purchasing an additional 855 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of MarketAxess Holdings by 7.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 115,919 shares of the financial services provider’s stock valued at $21,734,000 after purchasing an additional 8,151 shares during the period. KAMES CAPITAL plc raised its holdings in shares of MarketAxess Holdings by 9.9% in the 2nd quarter. KAMES CAPITAL plc now owns 418,824 shares of the financial services provider’s stock valued at $84,221,000 after purchasing an additional 37,755 shares during the period. Finally, Capital One National Association raised its holdings in shares of MarketAxess Holdings by 2.4% in the 2nd quarter. Capital One National Association now owns 16,108 shares of the financial services provider’s stock valued at $3,239,000 after purchasing an additional 379 shares during the period. 90.17% of the stock is currently owned by institutional investors.
MarketAxess Holdings (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, hitting the consensus estimate of $0.90. The business had revenue of $96.70 million for the quarter, compared to analyst estimates of $96.35 million. MarketAxess Holdings had a net margin of 37.67% and a return on equity of 30.12%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share.
MarketAxess Holdings announced that its board has initiated a stock repurchase plan on Wednesday, October 25th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 7th. MarketAxess Holdings’s dividend payout ratio is 33.93%.
MKTX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $205.00 target price on shares of MarketAxess Holdings in a report on Thursday, July 6th. Zacks Investment Research cut shares of MarketAxess Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Raymond James Financial, Inc. upped their target price on shares of MarketAxess Holdings from $216.00 to $219.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, BidaskClub raised shares of MarketAxess Holdings from a “hold” rating to a “buy” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $192.40.
In other MarketAxess Holdings news, CEO Richard M. Mcvey sold 20,000 shares of MarketAxess Holdings stock in a transaction dated Tuesday, August 8th. The shares were 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 of the company’s stock, valued at $220,110,245.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.02% of the company’s stock.
MarketAxess Holdings Company 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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