MarketAxess Holdings, Inc. (NASDAQ:MKTX) CEO Richard M. Mcvey sold 35,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $178.29, for a total value of $6,240,150.00. Following the completion of the transaction, the chief executive officer now owns 1,113,076 shares in the company, valued at approximately $198,450,320.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
MarketAxess Holdings, Inc. (MKTX) opened at $173.49 on Friday. MarketAxess Holdings, Inc. has a 52-week low of $145.10 and a 52-week high of $211.06. The stock has a market capitalization of $6,512.29, a P/E ratio of 44.60 and a beta of 0.66.
MarketAxess Holdings (NASDAQ:MKTX) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.90. MarketAxess Holdings had a return on equity of 30.12% and a net margin of 37.67%. The company had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $96.35 million. During the same quarter in the previous year, the firm posted $0.82 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. research analysts expect that MarketAxess Holdings, Inc. will post 3.91 earnings per share for the current year.
MarketAxess Holdings declared that its board has initiated a stock buyback program on Wednesday, October 25th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 7th. MarketAxess Holdings’s payout ratio is 33.93%.
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MKTX has been the topic of several recent research reports. Zacks Investment Research cut MarketAxess Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. BidaskClub upgraded MarketAxess Holdings from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Raymond James Financial, Inc. boosted their price target on MarketAxess Holdings from $216.00 to $219.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. 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 given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $192.40.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cutler Group LP acquired a new position in MarketAxess Holdings during the 2nd quarter worth approximately $110,000. First Personal Financial Services boosted its stake in shares of MarketAxess Holdings by 2.6% during the 2nd quarter. First Personal Financial Services now owns 631 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 16 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of MarketAxess Holdings during the 2nd quarter worth approximately $127,000. Traynor Capital Management Inc. purchased a new stake in shares of MarketAxess Holdings during the 2nd quarter worth approximately $203,000. Finally, Sciencast Management LP boosted its stake in shares of MarketAxess Holdings by 14.4% during the 2nd quarter. Sciencast Management LP now owns 1,226 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.
About MarketAxess Holdings
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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