First Trust Advisors LP increased its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 101.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 66,667 shares of the financial services provider’s stock after acquiring an additional 33,596 shares during the period. First Trust Advisors LP’s holdings in MarketAxess were worth $21,833,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Quest Capital Management Inc. ADV bought a new position in MarketAxess in the third quarter worth about $28,000. CWM LLC grew its holdings in MarketAxess by 60.7% in the second quarter. CWM LLC now owns 90 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 34 shares during the period. Squar Milner Financial Services LLC grew its holdings in MarketAxess by 1,250.0% in the third quarter. Squar Milner Financial Services LLC now owns 108 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 100 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in MarketAxess in the second quarter worth about $36,000. Finally, Kavar Capital Partners LLC purchased a new stake in MarketAxess in the second quarter worth about $40,000. 98.29% of the stock is owned by institutional investors.
In other news, Director Stephen P. Casper sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $402.82, for a total transaction of $402,820.00. Following the sale, the director now owns 13,567 shares in the company, valued at $5,465,058.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Nicholas Themelis sold 4,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $348.66, for a total transaction of $1,394,640.00. Following the sale, the insider now owns 49,314 shares in the company, valued at approximately $17,193,819.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,500 shares of company stock worth $9,640,485. Corporate insiders own 3.28% of the company’s stock.
MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.17. MarketAxess had a net margin of 40.58% and a return on equity of 30.89%. The firm had revenue of $131.60 million for the quarter, compared to analysts’ expectations of $130.00 million. During the same quarter in the prior year, the company posted $1.02 earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. Sell-side analysts expect that MarketAxess Holdings Inc. will post 5.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.51 per share. This is a boost from MarketAxess’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, November 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.54%. MarketAxess’s dividend payout ratio is presently 44.64%.
A number of equities research analysts have weighed in on the stock. BidaskClub cut shares of MarketAxess from a “strong-buy” rating to a “buy” rating in a report on Thursday. Argus assumed coverage on shares of MarketAxess in a report on Thursday, August 29th. They issued a “hold” rating on the stock. Deutsche Bank upped their price objective on shares of MarketAxess from $347.00 to $349.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Buckingham Research upped their price objective on shares of MarketAxess from $249.00 to $251.00 and gave the stock an “underperform” rating in a report on Thursday, October 24th. Finally, ValuEngine cut shares of MarketAxess from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $296.67.
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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