Algert Global LLC Has $8.25 Million Stock Holdings in MarketAxess Holdings Inc. $MKTX

Key Points

• Algert Global LLC significantly increased its stake in MarketAxess Holdings Inc. by 292.9% in the first quarter, owning 38,108 shares valued at approximately $8.25 million.
• MarketAxess reported earnings of $2.00 per share for the latest quarter, exceeding analysts' expectations, with a revenue increase of 11% year-over-year.
• The company has announced a quarterly dividend of $0.76 per share, with a dividend yield of 1.6%, to be paid on September 3rd.

Algert Global LLC increased its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 292.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 38,108 shares of the financial services provider's stock after acquiring an additional 28,408 shares during the period. Algert Global LLC owned 0.10% of MarketAxess worth $8,245,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its holdings in MarketAxess by 49.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 54 shares during the last quarter. State of Wyoming boosted its holdings in shares of MarketAxess by 13.6% during the 4th quarter. State of Wyoming now owns 483 shares of the financial services provider's stock worth $109,000 after buying an additional 58 shares during the period. Federated Hermes Inc. boosted its holdings in shares of MarketAxess by 13.0% during the 1st quarter. Federated Hermes Inc. now owns 522 shares of the financial services provider's stock worth $113,000 after buying an additional 60 shares during the period. Guggenheim Capital LLC grew its stake in MarketAxess by 3.7% in the 4th quarter. Guggenheim Capital LLC now owns 1,701 shares of the financial services provider's stock valued at $384,000 after buying an additional 61 shares during the last quarter. Finally, Colonial Trust Co SC raised its holdings in MarketAxess by 20.2% in the 4th quarter. Colonial Trust Co SC now owns 422 shares of the financial services provider's stock worth $95,000 after acquiring an additional 71 shares during the period. 99.01% of the stock is owned by institutional investors.

MarketAxess Price Performance

MKTX stock traded up $1.88 on Friday, reaching $188.73. 589,575 shares of the company were exchanged, compared to its average volume of 629,279. MarketAxess Holdings Inc. has a 12 month low of $182.99 and a 12 month high of $296.68. The stock's fifty day moving average price is $208.74 and its 200 day moving average price is $211.25. The firm has a market capitalization of $7.05 billion, a PE ratio of 31.77, a PEG ratio of 3.62 and a beta of 0.84.

MarketAxess (NASDAQ:MKTX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.06. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The business had revenue of $219.46 million for the quarter, compared to analyst estimates of $218.05 million. During the same quarter in the previous year, the firm posted $1.72 earnings per share. MarketAxess's revenue was up 11.0% compared to the same quarter last year. As a group, research analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

MarketAxess Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.76 per share. The ex-dividend date is Wednesday, August 20th. This represents a $3.04 dividend on an annualized basis and a yield of 1.6%. MarketAxess's payout ratio is currently 51.18%.

Analyst Ratings Changes

A number of research firms have issued reports on MKTX. UBS Group decreased their price target on shares of MarketAxess from $295.00 to $255.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Wall Street Zen upgraded MarketAxess from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods raised their target price on MarketAxess from $223.00 to $226.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Morgan Stanley cut their price target on MarketAxess from $283.00 to $274.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Finally, Jefferies Financial Group lowered their price objective on shares of MarketAxess from $217.00 to $208.00 and set a "hold" rating on the stock in a research note on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, MarketAxess currently has a consensus rating of "Hold" and a consensus target price of $229.70.

About MarketAxess

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.