Atlantic Trust Group LLC bought a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 408,519 shares of the financial services provider’s stock, valued at approximately $75,376,000. Atlantic Trust Group LLC owned approximately 1.09% of MarketAxess as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MKTX. D.A. Davidson & CO. grew its stake in MarketAxess by 0.5% during the 2nd quarter. D.A. Davidson & CO. now owns 1,380 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 7 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of MarketAxess by 2.5% in the second quarter. Coldstream Capital Management Inc. now owns 1,610 shares of the financial services provider’s stock worth $324,000 after buying an additional 40 shares during the last quarter. Campbell Newman Asset Management Inc. boosted its stake in shares of MarketAxess by 4.9% in the second quarter. Campbell Newman Asset Management Inc. now owns 2,261 shares of the financial services provider’s stock worth $455,000 after buying an additional 105 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in shares of MarketAxess by 5.9% in the second quarter. Great Lakes Advisors LLC now owns 1,913 shares of the financial services provider’s stock worth $385,000 after buying an additional 106 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of MarketAxess by 0.4% in the second quarter. Parametric Portfolio Associates LLC now owns 36,011 shares of the financial services provider’s stock worth $7,242,000 after buying an additional 134 shares during the last quarter. 91.65% of the stock is owned by hedge funds and other institutional investors.
Shares of MarketAxess Holdings Inc. (MKTX) traded up $2.20 during trading on Friday, reaching $203.72. The company had a trading volume of 214,055 shares, compared to its average volume of 241,191. The stock has a market capitalization of $7,564.44, a price-to-earnings ratio of 52.37 and a beta of 0.70. MarketAxess Holdings Inc. has a 52 week low of $153.95 and a 52 week high of $211.06.
MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, hitting the consensus estimate of $0.90. The business had revenue of $96.70 million during the quarter, compared to analyst estimates of $96.35 million. MarketAxess had a return on equity of 30.12% and a net margin of 37.67%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business posted $0.82 earnings per share. equities research analysts expect that MarketAxess Holdings Inc. will post 3.93 EPS for the current year.
MarketAxess announced that its board has approved a share buyback program on Wednesday, October 25th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other news, insider Kevin M. Mcpherson sold 5,000 shares of MarketAxess stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $176.61, for a total transaction of $883,050.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen P. Casper sold 2,000 shares of MarketAxess stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $195.84, for a total value of $391,680.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,225 shares of company stock valued at $8,955,630. 4.02% of the stock is currently owned by company insiders.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded MarketAxess from a “hold” rating to a “strong-buy” rating and set a $238.00 price target on the stock in a research report on Monday, January 8th. Goldman Sachs Group downgraded MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 price target on the stock. in a research report on Monday, January 8th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $215.00 target price on shares of MarketAxess in a report on Friday, December 22nd. Finally, Rosenblatt Securities initiated coverage on MarketAxess in a report on Thursday, December 14th. They set a “neutral” rating and a $190.00 target price for the company. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $202.86.
COPYRIGHT VIOLATION WARNING: “Atlantic Trust Group LLC Purchases Shares of 408,519 MarketAxess Holdings Inc. (MKTX)” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2018/01/13/atlantic-trust-group-llc-invests-75-38-million-in-marketaxess-holdings-inc-mktx-stock.html.
MarketAxess 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.
Receive News & Ratings for MarketAxess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MarketAxess and related companies with MarketBeat.com's FREE daily email newsletter.