Nan Shan Life Insurance Co. Ltd. raised its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 973.6% during the 4th quarter, HoldingsChannel reports. The fund owned 46,800 shares of the financial services provider’s stock after buying an additional 42,441 shares during the quarter. Nan Shan Life Insurance Co. Ltd.’s holdings in MarketAxess were worth $26,702,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MKTX. FMR LLC lifted its stake in MarketAxess by 128.2% in the 1st quarter. FMR LLC now owns 127,669 shares of the financial services provider’s stock valued at $31,417,000 after acquiring an additional 71,732 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in MarketAxess in the 3rd quarter valued at approximately $218,000. CWM LLC lifted its stake in MarketAxess by 62.5% in the 3rd quarter. CWM LLC now owns 130 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 50 shares in the last quarter. Hyperion Asset Management Ltd lifted its stake in MarketAxess by 51.7% in the 3rd quarter. Hyperion Asset Management Ltd now owns 34,690 shares of the financial services provider’s stock valued at $16,706,000 after acquiring an additional 11,815 shares in the last quarter. Finally, State of Michigan Retirement System lifted its stake in MarketAxess by 11.4% in the 3rd quarter. State of Michigan Retirement System now owns 10,781 shares of the financial services provider’s stock valued at $5,192,000 after acquiring an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 90.76% of the company’s stock.
MKTX traded up $1.32 during trading on Tuesday, hitting $542.39. The stock had a trading volume of 7,799 shares, compared to its average volume of 278,642. The company has a 50 day moving average price of $542.24 and a 200-day moving average price of $525.16. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of 73.01 and a beta of 0.41. MarketAxess Holdings Inc. has a one year low of $275.49 and a one year high of $606.45.
MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, January 27th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.07. The business had revenue of $171.35 million during the quarter, compared to the consensus estimate of $141.27 million. MarketAxess had a return on equity of 33.35% and a net margin of 42.73%. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 EPS. As a group, sell-side analysts expect that MarketAxess Holdings Inc. will post 7.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 24th. Stockholders of record on Wednesday, February 10th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from MarketAxess’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, February 9th. MarketAxess’s dividend payout ratio is presently 48.89%.
In other news, CEO Richard M. Mcvey sold 41,000 shares of the company’s stock in a transaction on Tuesday, December 8th. The stock was sold at an average price of $565.17, for a total transaction of $23,171,970.00. Following the completion of the sale, the chief executive officer now directly owns 850,356 shares in the company, valued at approximately $480,595,700.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Scott Pintoff sold 250 shares of the company’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $572.32, for a total value of $143,080.00. Following the sale, the general counsel now owns 6,473 shares of the company’s stock, valued at $3,704,627.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,250 shares of company stock valued at $26,058,763. Corporate insiders own 3.05% of the company’s stock.
Several research firms have weighed in on MKTX. Deutsche Bank Aktiengesellschaft boosted their price target on MarketAxess from $517.00 to $562.00 and gave the stock a “hold” rating in a research report on Wednesday, October 28th. Rosenblatt Securities boosted their price target on MarketAxess from $588.00 to $605.00 and gave the stock a “buy” rating in a research report on Monday, February 1st. Morgan Stanley boosted their price target on MarketAxess from $599.00 to $606.00 and gave the stock an “equal weight” rating in a research report on Monday, February 1st. William Blair reaffirmed a “market perform” rating on shares of MarketAxess in a research report on Wednesday, January 20th. Finally, Zacks Investment Research lowered MarketAxess from a “buy” rating to a “hold” rating and set a $590.00 target price on the stock. in a report on Thursday, December 31st. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $512.00.
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.
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