California State Teachers Retirement System Has $7.21 Million Stake in MarketAxess Holdings Inc. $MKTX

Key Points

• California State Teachers Retirement System increased its MarketAxess stake by 24.1% in the first quarter, holding 43,688 shares valued at approximately $7.21 million. Institutional investors collectively own 99.01% of the company.
• MarketAxess reported quarterly EPS of $1.95, beating estimates of $1.85, while revenue reached $218 million, slightly below the prior year. The company declared a quarterly dividend of $0.78 per share, representing a 1.9% annualized yield.
• Analyst sentiment remains cautious, with two Buy ratings, eleven Holds and one Sell; the consensus rating is Hold, with an average price target of $160.18.

California State Teachers Retirement System grew its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 24.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 43,688 shares of the financial services provider's stock after acquiring an additional 8,478 shares during the quarter. California State Teachers Retirement System owned about 0.12% of MarketAxess worth $7,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MKTX. Hsbc Holdings PLC increased its position in MarketAxess by 638.7% during the 1st quarter. Hsbc Holdings PLC now owns 21,009 shares of the financial services provider's stock worth $3,472,000 after purchasing an additional 18,165 shares in the last quarter. Alpha Omega Wealth Management LLC acquired a new stake in shares of MarketAxess during the fourth quarter valued at about $1,326,000. CWM LLC boosted its stake in shares of MarketAxess by 190.5% during the fourth quarter. CWM LLC now owns 75,665 shares of the financial services provider's stock valued at $13,714,000 after purchasing an additional 49,619 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of MarketAxess during the second quarter worth about $406,000. Finally, Polar Asset Management Partners Inc. grew its holdings in shares of MarketAxess by 523.8% during the first quarter. Polar Asset Management Partners Inc. now owns 104,174 shares of the financial services provider's stock worth $17,187,000 after purchasing an additional 87,474 shares during the last quarter. Institutional investors own 99.01% of the company's stock.

MarketAxess Price Performance

Shares of NASDAQ:MKTX opened at $162.35 on Wednesday. The company's 50-day moving average is $121.61 and its 200 day moving average is $151.55. MarketAxess Holdings Inc. has a fifty-two week low of $108.75 and a fifty-two week high of $210.05. The company has a market capitalization of $5.77 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 16.04 and a beta of 0.83. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.17 and a current ratio of 2.17.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.The firm had revenue of $218.00 million for the quarter, compared to analyst estimates of $216.70 million. During the same period in the previous year, the company posted $2.00 earnings per share. The business's revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that MarketAxess Holdings Inc. will post 8.03 earnings per share for the current year.

MarketAxess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.12 annualized dividend and a yield of 1.9%. MarketAxess's payout ratio is currently 36.79%.

Wall Street Analysts Forecast Growth

MKTX has been the subject of a number of research reports. UBS Group lowered shares of MarketAxess from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $200.00 to $167.00 in a report on Friday. Bank of America upgraded MarketAxess from an "underperform" rating to a "neutral" rating and set a $170.00 target price for the company in a report on Friday, June 12th. William Blair lowered shares of MarketAxess from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. Rothschild & Co Redburn reissued a "neutral" rating and set a $134.00 price objective (down from $189.00) on shares of MarketAxess in a research report on Thursday, June 11th. Finally, Wall Street Zen downgraded MarketAxess from a "hold" rating to a "sell" rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MarketAxess has an average rating of "Hold" and an average price target of $160.18.

MarketAxess Profile

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company's network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.

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