New Mexico Educational Retirement Board purchased a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,300 shares of the financial services provider’s stock, valued at approximately $1,876,000.
A number of other institutional investors and hedge funds also recently modified their holdings of MKTX. AHL Partners LLP purchased a new stake in MarketAxess in the second quarter worth about $338,000. Macquarie Group Ltd. increased its position in MarketAxess by 131.0% in the second quarter. Macquarie Group Ltd. now owns 13,400 shares of the financial services provider’s stock worth $2,695,000 after buying an additional 7,600 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in MarketAxess by 9.1% in the second quarter. Cubist Systematic Strategies LLC now owns 1,624 shares of the financial services provider’s stock worth $327,000 after buying an additional 135 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in MarketAxess by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 55,258 shares of the financial services provider’s stock worth $11,112,000 after buying an additional 862 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in MarketAxess in the second quarter worth about $392,000. Institutional investors and hedge funds own 91.41% of the company’s stock.
In related news, CEO Richard M. Mcvey sold 35,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.61, for a total transaction of $6,671,350.00. Following the completion of the sale, the chief executive officer now owns 1,115,767 shares in the company, valued at $212,676,347.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David G. Gomach sold 4,225 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $197.98, for a total value of $836,465.50. Following the sale, the director now owns 259 shares of the company’s stock, valued at approximately $51,276.82. The disclosure for this sale can be found here. Insiders have sold 41,225 shares of company stock valued at $7,899,496 in the last quarter. 4.02% of the stock is currently owned by company insiders.
Several research firms recently issued reports on MKTX. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $215.00 target price on shares of MarketAxess in a research report on Friday, December 22nd. Zacks Investment Research upgraded MarketAxess from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. BidaskClub cut MarketAxess from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Raymond James Financial reiterated a “market perform” rating on shares of MarketAxess in a research report on Monday, January 22nd. Finally, UBS Group cut MarketAxess from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $214.40.
Shares of MarketAxess Holdings Inc. (MKTX) opened at $201.40 on Friday. MarketAxess Holdings Inc. has a 1 year low of $171.45 and a 1 year high of $211.06. The stock has a market capitalization of $7,559.95, a PE ratio of 51.64 and a beta of 0.60.
MarketAxess declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 25th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $1.68 annualized dividend and a dividend yield of 0.83%. This is a boost from MarketAxess’s previous quarterly dividend of $0.20. MarketAxess’s dividend payout ratio (DPR) is currently 43.19%.
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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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