Dimensional Fund Advisors LP Sells 12,369 Shares of MarketAxess Holdings Inc. (MKTX)
Dimensional Fund Advisors LP reduced its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,133 shares of the financial services provider’s stock after selling 12,369 shares during the quarter. Dimensional Fund Advisors LP’s holdings in MarketAxess were worth $33,235,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. GQG Partners LLC purchased a new stake in shares of MarketAxess during the 2nd quarter valued at approximately $127,000. Sciencast Management LP lifted its stake in shares of MarketAxess by 14.4% during the 2nd quarter. Sciencast Management LP now owns 1,226 shares of the financial services provider’s stock valued at $247,000 after buying an additional 154 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of MarketAxess by 0.5% during the 2nd quarter. D.A. Davidson & CO. now owns 1,380 shares of the financial services provider’s stock valued at $277,000 after buying an additional 7 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of MarketAxess by 38.2% during the 2nd quarter. Advisor Group Inc. now owns 1,469 shares of the financial services provider’s stock valued at $295,000 after buying an additional 406 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in shares of MarketAxess by 2.5% during the 2nd quarter. Coldstream Capital Management Inc. now owns 1,610 shares of the financial services provider’s stock valued at $324,000 after buying an additional 40 shares in the last quarter. Institutional investors own 91.65% of the company’s stock.
Shares of MarketAxess Holdings Inc. (MKTX) opened at $203.72 on Monday. MarketAxess Holdings Inc. has a 52 week low of $153.95 and a 52 week high of $211.06. The stock has a market cap of $7,650.00, a P/E ratio of 52.37 and a beta of 0.70.
MarketAxess announced that its board has authorized a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of MarketAxess from a “hold” rating to a “strong-buy” rating and set a $238.00 price target on the stock in a research note on Monday, January 8th. Goldman Sachs Group cut shares of MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research note on Monday, January 8th. Rosenblatt Securities began coverage on shares of MarketAxess in a research note on Thursday, December 14th. They issued a “neutral” rating and a $190.00 target price on the stock. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $215.00 target price on shares of MarketAxess in a research note on Friday, December 22nd. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. MarketAxess presently has a consensus rating of “Buy” and an average price target of $202.86.
In other news, insider Nicholas Themelis sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $176.40, for a total transaction of $705,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen P. Casper sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $195.84, for a total transaction of $391,680.00. The disclosure for this sale can be found here. Insiders sold a total of 50,225 shares of company stock worth $8,955,630 over the last quarter. Corporate insiders own 4.02% of the company’s stock.
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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