Nomura Asset Management Co. Ltd. purchased a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,680 shares of the financial services provider’s stock, valued at approximately $1,826,000.
A number of other hedge funds also recently made changes to their positions in the stock. HighTower Advisors LLC boosted its stake in MarketAxess by 2.5% in the 2nd quarter. HighTower Advisors LLC now owns 4,759 shares of the financial services provider’s stock valued at $1,529,000 after buying an additional 114 shares in the last quarter. Bank of Nova Scotia acquired a new stake in MarketAxess in the 2nd quarter valued at $334,000. APG Asset Management N.V. acquired a new stake in MarketAxess in the 2nd quarter valued at $1,355,000. MML Investors Services LLC acquired a new stake in MarketAxess in the 2nd quarter valued at $226,000. Finally, Toronto Dominion Bank boosted its stake in MarketAxess by 727.4% in the 2nd quarter. Toronto Dominion Bank now owns 22,158 shares of the financial services provider’s stock valued at $7,122,000 after buying an additional 19,480 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors and hedge funds.
MKTX has been the topic of several recent analyst reports. ValuEngine lowered MarketAxess from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Argus initiated coverage on MarketAxess in a research note on Thursday, August 29th. They issued a “hold” rating on the stock. Barclays boosted their price target on MarketAxess from $244.00 to $289.00 and gave the company an “equal weight” rating in a research note on Friday, June 28th. Deutsche Bank lifted their price objective on MarketAxess from $332.00 to $336.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th. Finally, BidaskClub downgraded MarketAxess from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $277.20.
In other news, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $350.07, for a total transaction of $7,001,400.00. Following the completion of the sale, the chief executive officer now owns 1,044,249 shares in the company, valued at $365,560,247.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Themelis sold 2,750 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $347.39, for a total value of $955,322.50. Following the sale, the insider now owns 53,064 shares of the company’s stock, valued at approximately $18,433,902.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,750 shares of company stock valued at $8,359,543. Corporate insiders own 3.28% of the company’s stock.
MKTX traded down $6.04 during trading on Friday, hitting $336.71. The company’s stock had a trading volume of 6,176 shares, compared to its average volume of 378,367. The firm’s 50 day moving average price is $369.77 and its two-hundred day moving average price is $310.86. The company has a quick ratio of 10.05, a current ratio of 10.05 and a debt-to-equity ratio of 0.14. MarketAxess Holdings Inc. has a 12 month low of $172.09 and a 12 month high of $421.45. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 73.67 and a beta of 0.17.
MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.03). MarketAxess had a net margin of 39.89% and a return on equity of 29.85%. The business had revenue of $125.50 million during the quarter, compared to the consensus estimate of $126.06 million. During the same quarter in the previous year, the firm posted $1.07 EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, sell-side analysts forecast that MarketAxess Holdings Inc. will post 5.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th were given a $0.51 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $2.04 annualized dividend and a yield of 0.61%. MarketAxess’s payout ratio is 44.64%.
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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