Flossbach Von Storch SE Invests $8.51 Million in MarketAxess Holdings Inc. $MKTX

Key Points

• Flossbach Von Storch SE acquired 75,000 MarketAxess shares worth approximately $8.51 million, while institutional investors collectively own 99.01% of the company.
• Analyst sentiment is mostly neutral: MarketAxess has an average “Hold” rating and a consensus price target of $156.10, following several target-price cuts and rating downgrades.
• MarketAxess beat quarterly earnings and revenue estimates, reporting $1.95 in EPS and $218.41 million in revenue, but revenue declined 0.5% year over year. The company also declared a quarterly dividend of $0.78 per share, representing a 1.9% yield.

Flossbach Von Storch SE purchased a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 75,000 shares of the financial services provider's stock, valued at approximately $8,512,000. Flossbach Von Storch SE owned 0.21% of MarketAxess at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Amundi increased its position in shares of MarketAxess by 803.9% in the first quarter. Amundi now owns 258,708 shares of the financial services provider's stock worth $42,682,000 after purchasing an additional 230,087 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of 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 acquiring an additional 18,165 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of MarketAxess by 32.4% during the 1st quarter. Bank of America Corp DE now owns 263,858 shares of the financial services provider's stock worth $43,531,000 after acquiring an additional 64,627 shares during the last quarter. Polar Asset Management Partners Inc. grew its position in MarketAxess by 523.8% in 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 acquiring an additional 87,474 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in MarketAxess by 10.3% in the first quarter. Dimensional Fund Advisors LP now owns 581,484 shares of the financial services provider's stock worth $95,933,000 after acquiring an additional 54,503 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MKTX shares. Bank of America upgraded MarketAxess from an "underperform" rating to a "neutral" rating and set a $170.00 price target on the stock in a research report on Friday, June 12th. William Blair cut MarketAxess from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. Rothschild & Co Redburn reiterated 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. Morgan Stanley decreased their price objective on MarketAxess from $195.00 to $129.00 and set an "equal weight" rating on the stock in a report on Friday, July 10th. Finally, Benchmark restated a "buy" rating on shares of MarketAxess in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $156.10.

MarketAxess Stock Down 0.5%

Shares of MarketAxess stock opened at $161.74 on Thursday. The company has a 50-day moving average of $130.28 and a 200 day moving average of $150.81. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 2.03 and a beta of 0.83. MarketAxess Holdings Inc. has a 1 year low of $108.75 and a 1 year high of $195.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.85 and a quick ratio of 1.85.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.10. MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. The company had revenue of $218.41 million for the quarter, compared to the consensus estimate of $216.70 million. During the same quarter in the prior year, the firm earned $2.00 earnings per share. The firm's revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that MarketAxess Holdings Inc. will post 8.06 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, August 19th. MarketAxess's dividend payout ratio is presently 36.79%.

About MarketAxess

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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