Integrated Wealth Concepts LLC Acquires 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 purchased a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,933 shares of the financial services provider's stock, valued at approximately $635,000.

Other institutional investors also recently bought and sold shares of the company. Clear Creek Financial Management LLC bought a new stake in shares of MarketAxess during the 1st quarter worth approximately $280,000. Praxis Investment Management Inc. bought a new stake in shares of MarketAxess during the first quarter worth $376,000. Wilson Asset Management International PTY Ltd. raised its stake in shares of MarketAxess by 26.6% during the first quarter. Wilson Asset Management International PTY Ltd. now owns 60,492 shares of the financial services provider's stock valued at $13,087,000 after acquiring an additional 12,697 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of MarketAxess by 210.8% during the first quarter. Victory Capital Management Inc. now owns 17,400 shares of the financial services provider's stock valued at $3,764,000 after acquiring an additional 11,801 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its position in MarketAxess by 13.6% during the 1st quarter. First Citizens Bank & Trust Co. now owns 24,671 shares of the financial services provider's stock valued at $5,338,000 after purchasing an additional 2,947 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Stephen P. Casper sold 1,600 shares of the firm's stock in a transaction 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 sale, the director owned 43,208 shares in the company, valued at approximately $8,062,180.72. This trade represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.65% of the company's stock.

MarketAxess Stock Down 1.9%

MarketAxess stock opened at $184.85 on Friday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 31.12, a price-to-earnings-growth ratio of 3.65 and a beta of 0.88. MarketAxess Holdings Inc. has a 52 week low of $178.20 and a 52 week high of $296.68. The business's 50-day moving average price is $197.83 and its 200 day moving average price is $210.26.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its 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 firm had revenue of $219.46 million for the quarter, compared to analyst estimates of $218.05 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.MarketAxess's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $1.72 earnings per share. Equities analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, August 20th. MarketAxess's dividend payout ratio (DPR) is currently 51.18%.

Wall Street Analyst Weigh In

MKTX has been the subject of several recent research reports. Wall Street Zen upgraded MarketAxess from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Argus raised shares of MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 price objective for the company in a research note on Monday, August 25th. Morgan Stanley reduced their target price on shares of MarketAxess from $283.00 to $274.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. UBS Group reduced their price objective on shares of MarketAxess from $295.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $204.00 price target (up from $202.00) on shares of MarketAxess in a research report on Tuesday, July 15th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $228.09.

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.

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