Municipal Employees Retirement System of Michigan decreased its position in MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 16.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,510 shares of the financial services provider’s stock after selling 2,910 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in MarketAxess Holdings were worth $2,918,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in MKTX. Cutler Group LP purchased a new stake in shares of MarketAxess Holdings during the second quarter valued at $110,000. Puzo Michael J purchased a new stake in shares of MarketAxess Holdings during the first quarter valued at $212,000. Gardiner Nancy B purchased a new stake in shares of MarketAxess Holdings during the first quarter valued at $224,000. Independence Trust CO purchased a new stake in shares of MarketAxess Holdings during the first quarter valued at $240,000. Finally, WMS Partners LLC purchased a new stake in shares of MarketAxess Holdings during the first quarter valued at $243,000. Institutional investors own 90.36% of the company’s stock.
Shares of MarketAxess Holdings, Inc. (MKTX) opened at 188.71 on Friday. The firm has a 50 day moving average price of $197.59 and a 200-day moving average price of $192.63. MarketAxess Holdings, Inc. has a 12 month low of $145.10 and a 12 month high of $211.06. The company has a market cap of $7.08 billion, a P/E ratio of 49.63 and a beta of 0.69.
MarketAxess Holdings (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. MarketAxess Holdings had a net margin of 37.46% and a return on equity of 30.38%. The company had revenue of $97.31 million during the quarter, compared to the consensus estimate of $96.42 million. During the same period in the previous year, the firm posted $0.88 EPS. The firm’s revenue was up .7% compared to the same quarter last year. Analysts anticipate that MarketAxess Holdings, Inc. will post $4.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Tuesday, August 8th. MarketAxess Holdings’s dividend payout ratio is currently 34.65%.
Several equities research analysts have recently commented on MKTX shares. BidaskClub lowered MarketAxess Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Raymond James Financial, Inc. increased their price objective on MarketAxess Holdings from $216.00 to $219.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Zacks Investment Research raised MarketAxess Holdings from a “hold” rating to a “strong-buy” rating and set a $221.00 price objective on the stock in a report on Monday, May 1st. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $205.00 target price on shares of MarketAxess Holdings in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. MarketAxess Holdings currently has an average rating of “Buy” and an average price target of $197.17.
In other MarketAxess Holdings news, insider Nicholas Themelis sold 5,596 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $200.84, for a total value of $1,123,900.64. Following the transaction, the insider now owns 67,763 shares in the company, valued at $13,609,520.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $198.63, for a total transaction of $3,972,600.00. Following the completion of the transaction, the chief executive officer now owns 1,108,142 shares in the company, valued at approximately $220,110,245.46. The disclosure for this sale can be found here. Insiders have sold a total of 34,882 shares of company stock valued at $6,966,237 over the last ninety days. 4.51% of the stock is currently owned by insiders.
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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