Texas Permanent School Fund decreased its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 7.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,407 shares of the financial services provider’s stock after selling 2,032 shares during the quarter. Texas Permanent School Fund owned about 0.07% of MarketAxess worth $5,126,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Forte Capital LLC ADV increased its stake in shares of MarketAxess by 1.2% in the 4th quarter. Forte Capital LLC ADV now owns 36,252 shares of the financial services provider’s stock valued at $7,313,000 after purchasing an additional 425 shares in the last quarter. GW&K Investment Management LLC increased its stake in shares of MarketAxess by 0.4% in the 4th quarter. GW&K Investment Management LLC now owns 219,735 shares of the financial services provider’s stock valued at $44,332,000 after purchasing an additional 923 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of MarketAxess in the 4th quarter valued at about $544,000. Westpac Banking Corp purchased a new position in shares of MarketAxess in the 4th quarter valued at about $5,470,000. Finally, Schwab Charles Investment Management Inc. increased its stake in MarketAxess by 4.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 133,816 shares of the financial services provider’s stock worth $26,998,000 after buying an additional 6,240 shares in the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.
In other MarketAxess news, insider Kevin M. Mcpherson sold 5,000 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard M. Mcvey sold 35,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.61, for a total value of $6,671,350.00. Following the transaction, the chief executive officer now directly owns 1,115,767 shares in the company, valued at approximately $212,676,347.87. The disclosure for this sale can be found here. Insiders have sold 46,225 shares of company stock worth $8,782,546 in the last ninety days. Corporate insiders own 4.02% of the company’s stock.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded MarketAxess from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub lowered MarketAxess from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Raymond James Financial restated a “market perform” rating on shares of MarketAxess in a report on Monday, January 22nd. Rosenblatt Securities started coverage on MarketAxess in a report on Thursday, December 14th. They set a “neutral” rating and a $190.00 target price on the stock. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $215.00 target price on shares of MarketAxess in a report on Friday, December 22nd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. MarketAxess presently has a consensus rating of “Hold” and a consensus price target of $214.40.
MarketAxess Holdings Inc. (MKTX) opened at $191.50 on Tuesday. MarketAxess Holdings Inc. has a 52 week low of $171.45 and a 52 week high of $211.06. The company has a market capitalization of $7,190.00, a price-to-earnings ratio of 49.23 and a beta of 0.60.
MarketAxess announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 25th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to buy 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.
The company also recently declared a dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be paid a dividend of $0.42 per share. This represents a yield of 0.00215097818293557%. This is a boost from MarketAxess’s previous dividend of $0.20. The ex-dividend date is Tuesday, February 13th. MarketAxess’s dividend payout ratio is 33.93%.
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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.
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