Covenant Asset Management LLC bought a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,949 shares of the financial services provider’s stock, valued at approximately $1,269,000.
A number of other large investors also recently made changes to their positions in the stock. Executive Wealth Management LLC acquired a new stake in MarketAxess during the 4th quarter worth about $27,000. AdvisorNet Financial Inc grew its holdings in MarketAxess by 41.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 170 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 50 shares during the period. Evolution Wealth Advisors LLC acquired a new stake in MarketAxess during the 2nd quarter worth about $78,000. Bremer Bank National Association acquired a new stake in MarketAxess during the 1st quarter worth about $88,000. Finally, Quadrant Capital Group LLC grew its holdings in MarketAxess by 72.6% during the 1st quarter. Quadrant Capital Group LLC now owns 409 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 172 shares during the period. 99.19% of the stock is owned by institutional investors and hedge funds.
Shares of MKTX traded up $4.00 during trading hours on Friday, hitting $348.00. The stock had a trading volume of 19,001 shares, compared to its average volume of 700,702. The company has a quick ratio of 10.82, a current ratio of 10.05 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $339.02. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 76.15, a P/E/G ratio of 12.85 and a beta of 0.22. MarketAxess Holdings Inc. has a 1-year low of $172.09 and a 1-year high of $373.98.
MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.03). The firm had revenue of $125.50 million during the quarter, compared to analyst estimates of $126.06 million. MarketAxess had a net margin of 39.89% and a return on equity of 29.85%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 earnings per share. On average, research analysts forecast that MarketAxess Holdings Inc. will post 5.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.51 per share. The ex-dividend date is Tuesday, August 6th. This represents a $2.04 annualized dividend and a dividend yield of 0.59%. MarketAxess’s dividend payout ratio is currently 44.64%.
A number of analysts have weighed in on the company. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Buckingham Research decreased their price target on State Street from $83.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. Zacks Investment Research upgraded Zymeworks from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Saturday, April 13th. Barclays reiterated an “underweight” rating and set a GBX 1,900 ($24.83) price target on shares of in a report on Friday, June 28th. Finally, ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $246.50.
In related news, insider Kevin M. Mcpherson sold 4,000 shares of MarketAxess stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $278.50, for a total value of $1,114,000.00. Following the sale, the insider now owns 87,317 shares of the company’s stock, valued at approximately $24,317,784.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen P. Casper sold 102 shares of MarketAxess stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $337.30, for a total transaction of $34,404.60. Following the completion of the sale, the director now directly owns 13,157 shares in the company, valued at approximately $4,437,856.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,102 shares of company stock worth $7,323,665. Insiders own 3.28% of the company’s stock.
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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