Integrated Wealth Concepts LLC Buys Shares of 2,933 MarketAxess Holdings Inc. $MKTX

Key Points

• Integrated Wealth Concepts LLC has acquired 2,933 shares of MarketAxess Holdings Inc. (NASDAQ:MKTX), valued at approximately $635,000, according to their recent SEC filing.
• MarketAxess recently declared a quarterly dividend of $0.76 per share, resulting in an annualized dividend yield of 1.6%.
• MarketAxess's stock is currently trading at $184.85, with a market cap of $6.91 billion and recent earnings showing a 11% increase in revenue year-over-year.

Integrated Wealth Concepts LLC acquired a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,933 shares of the financial services provider's stock, valued at approximately $635,000.

Several other hedge funds also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. acquired a new position in shares of MarketAxess in the 1st quarter worth approximately $543,000. Eventide Asset Management LLC acquired a new position in shares of MarketAxess in the 1st quarter worth approximately $983,000. Cinctive Capital Management LP grew its stake in shares of MarketAxess by 48.9% in the 1st quarter. Cinctive Capital Management LP now owns 14,519 shares of the financial services provider's stock worth $3,141,000 after purchasing an additional 4,770 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of MarketAxess by 37.5% in the 1st quarter. AQR Capital Management LLC now owns 129,508 shares of the financial services provider's stock worth $28,019,000 after purchasing an additional 35,303 shares during the last quarter. Finally, Ancora Advisors LLC increased its position in shares of MarketAxess by 17.9% in the first quarter. Ancora Advisors LLC now owns 3,055 shares of the financial services provider's stock worth $661,000 after acquiring an additional 464 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock.

MarketAxess Stock Performance

Shares of MKTX stock traded down $3.82 during trading on Thursday, hitting $179.71. 674,738 shares of the company were exchanged, compared to its average volume of 662,638. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 3.56 and a beta of 0.88. The business's 50-day simple moving average is $194.85 and its 200 day simple moving average is $209.97. MarketAxess Holdings Inc. has a twelve month low of $178.20 and a twelve month high of $296.68.

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

MarketAxess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, August 20th. MarketAxess's dividend payout ratio (DPR) is currently 51.18%.

Analysts Set New Price Targets

MKTX has been the topic of several analyst reports. Wall Street Zen raised shares of MarketAxess from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Piper Sandler reissued a "neutral" rating and issued a $204.00 target price (up from $202.00) on shares of MarketAxess in a research report on Tuesday, July 15th. Morgan Stanley dropped their target price on shares of MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Barclays dropped their target price on shares of MarketAxess from $237.00 to $200.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Finally, UBS Group dropped their target price on shares of MarketAxess from $295.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $228.09.

Insider Buying and Selling

In other MarketAxess news, CRO Kevin M. Mcpherson sold 1,494 shares of MarketAxess stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $185.32, for a total value of $276,868.08. Following the completion of the sale, the executive directly owned 67,681 shares in the company, valued at $12,542,642.92. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen P. Casper sold 1,600 shares of MarketAxess stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $186.59, for a total transaction of $298,544.00. Following the completion of the sale, the director owned 43,208 shares of the company's stock, valued at $8,062,180.72. This trade represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.

MarketAxess Profile

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.