Jupiter Topco LLC Acquires New Holdings in MarketAxess Holdings Inc. $MKTX

Key Points

• Jupiter Topco LLC acquired 16,600 MarketAxess shares worth approximately $1.88 million in the second quarter. Institutional investors collectively own 99.01% of the company.
• MarketAxess beat quarterly earnings expectations with $1.95 EPS versus the $1.85 consensus and reported $218.41 million in revenue. The company also paid a quarterly dividend of $0.78 per share, equivalent to a 1.9% yield.
• Analysts have broadly turned cautious, with multiple firms cutting price targets and ratings. The stock carries an overall “Hold” consensus rating and an average price target of $156.10.

Jupiter Topco LLC bought a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,600 shares of the financial services provider's stock, valued at approximately $1,884,000.

Other large investors have also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc bought a new position in shares of MarketAxess in the second quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of MarketAxess by 200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock worth $26,000 after buying an additional 80 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of MarketAxess by 300.0% during the 4th quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider's stock worth $51,000 after buying an additional 210 shares during the period. Westpac Banking Corp acquired a new position in MarketAxess in the 1st quarter valued at $56,000. Finally, Versant Capital Management Inc grew its stake in MarketAxess by 215.3% in the 2nd quarter. Versant Capital Management Inc now owns 391 shares of the financial services provider's stock valued at $44,000 after buying an additional 267 shares during the last quarter. Institutional investors own 99.01% of the company's stock.

MarketAxess Price Performance

NASDAQ:MKTX opened at $163.34 on Friday. The stock has a market cap of $5.75 billion, a P/E ratio of 19.26, a PEG ratio of 2.08 and a beta of 0.83. MarketAxess Holdings Inc. has a one year low of $108.75 and a one year high of $195.96. The company has a fifty day moving average price of $140.01 and a 200 day moving average price of $150.25. 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 results 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. The firm had revenue of $218.41 million during the quarter, compared to the consensus estimate of $216.70 million. MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. The business's revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.00 EPS. Analysts anticipate that MarketAxess Holdings Inc. will post 8.06 earnings per share for the current year.

MarketAxess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 19th. MarketAxess's dividend payout ratio (DPR) is presently 36.79%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MKTX. Rothschild & Co Redburn restated a "neutral" rating and set a $134.00 price target (down from $189.00) on shares of MarketAxess in a report on Thursday, June 11th. Morgan Stanley dropped their price objective on MarketAxess from $195.00 to $129.00 and set an "equal weight" rating on the stock in a research note on Friday, July 10th. UBS Group cut MarketAxess from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $200.00 to $167.00 in a research report on Friday, July 31st. Piper Sandler decreased their target price on MarketAxess from $175.00 to $128.00 and set a "neutral" rating for the company in a research note on Wednesday, July 15th. Finally, William Blair lowered MarketAxess from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $156.10.

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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