MarketAxess Holdings Inc. $MKTX Stock Position Lowered by Jump Financial LLC

Key Points

• Jump Financial LLC reduced its stake in MarketAxess Holdings Inc. by 61.1%, now holding 8,616 shares worth approximately $1.86 million after selling 13,543 shares in Q1.
• MarketAxess recently reported a quarterly earnings per share (EPS) of $2.00, exceeding the consensus estimate of $1.94, and has shown a 11.0% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.76 per share, with an annualized yield of 1.6%, payable on September 3rd.

Jump Financial LLC reduced its position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 61.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,616 shares of the financial services provider's stock after selling 13,543 shares during the quarter. Jump Financial LLC's holdings in MarketAxess were worth $1,864,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MKTX. Clear Creek Financial Management LLC acquired a new position in shares of MarketAxess in the 1st quarter valued at $280,000. Praxis Investment Management Inc. acquired a new position in MarketAxess during the 1st quarter worth approximately $376,000. Wilson Asset Management International PTY Ltd. increased its position in MarketAxess by 26.6% during the 1st quarter. Wilson Asset Management International PTY Ltd. now owns 60,492 shares of the financial services provider's stock worth $13,087,000 after purchasing an additional 12,697 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of MarketAxess by 210.8% in the 1st quarter. Victory Capital Management Inc. now owns 17,400 shares of the financial services provider's stock valued at $3,764,000 after buying an additional 11,801 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its holdings in shares of MarketAxess by 13.6% in 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 buying an additional 2,947 shares during the period. 99.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MKTX has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on MarketAxess from $295.00 to $255.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Argus upgraded 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. Citigroup upped their target price on shares of MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Jefferies Financial Group lowered their price target on MarketAxess from $217.00 to $208.00 and set a "hold" rating on the stock in a report on Monday, August 11th. Finally, Wall Street Zen raised shares of MarketAxess from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $228.09.

MarketAxess Stock Up 0.7%

Shares of MarketAxess stock traded up $1.29 during trading hours on Monday, hitting $183.84. 592,372 shares of the company's stock traded hands, compared to its average volume of 699,675. MarketAxess Holdings Inc. has a twelve month low of $182.15 and a twelve month high of $296.68. The stock has a 50 day simple moving average of $205.22 and a 200-day simple moving average of $211.11. The company has a market cap of $6.87 billion, a PE ratio of 30.95, a PEG ratio of 3.56 and a beta of 0.88.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.06. The company had revenue of $219.46 million for 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 revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 earnings per share. As a group, equities research analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be 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 of this dividend is Wednesday, August 20th. MarketAxess's dividend payout ratio is currently 51.18%.

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.