Kodai Capital Management LP Trims Stock Holdings in MarketAxess Holdings Inc. $MKTX

Key Points

• Kodai Capital Management LP reduced its stake in MarketAxess Holdings by 43.1%, owning 0.21% of the company, valued at approximately $16.86 million after selling 59,147 shares.
• Several institutional investors have increased their holdings in MarketAxess, with Signaturefd LLC raising its stake by 173.0% during the same period.
• MarketAxess has announced a quarterly dividend of $0.76 per share, representing a 1.7% dividend yield with a payout ratio of 51.18%.

Kodai Capital Management LP lessened its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 43.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,944 shares of the financial services provider's stock after selling 59,147 shares during the quarter. Kodai Capital Management LP owned 0.21% of MarketAxess worth $16,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board grew its stake in shares of MarketAxess by 4.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 51,689 shares of the financial services provider's stock worth $11,183,000 after acquiring an additional 2,000 shares during the period. Trexquant Investment LP grew its stake in shares of MarketAxess by 274.0% during the 1st quarter. Trexquant Investment LP now owns 22,103 shares of the financial services provider's stock worth $4,782,000 after acquiring an additional 16,193 shares during the period. B. Metzler seel. Sohn & Co. AG grew its stake in shares of MarketAxess by 16.4% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 7,890 shares of the financial services provider's stock worth $1,707,000 after acquiring an additional 1,113 shares during the period. Ieq Capital LLC grew its stake in shares of MarketAxess by 17.0% during the 1st quarter. Ieq Capital LLC now owns 11,657 shares of the financial services provider's stock worth $2,522,000 after acquiring an additional 1,690 shares during the period. Finally, Findlay Park Partners LLP grew its stake in shares of MarketAxess by 1.4% during the 1st quarter. Findlay Park Partners LLP now owns 680,000 shares of the financial services provider's stock worth $147,118,000 after acquiring an additional 9,100 shares during the period. Institutional investors own 99.01% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MKTX. Wall Street Zen upgraded MarketAxess from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley cut their target price on MarketAxess from $283.00 to $274.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Piper Sandler restated a "neutral" rating and issued a $204.00 target price (up previously from $202.00) on shares of MarketAxess in a research note on Tuesday, July 15th. Citigroup raised their target price on MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Barclays cut their target price on MarketAxess from $237.00 to $200.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $228.09.

MarketAxess Price Performance

MarketAxess stock traded down $3.64 during trading hours on Tuesday, reaching $180.20. The company had a trading volume of 608,312 shares, compared to its average volume of 592,211. The company has a 50-day moving average price of $204.48 and a 200 day moving average price of $211.04. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of 30.34, a P/E/G ratio of 3.56 and a beta of 0.88. MarketAxess Holdings Inc. has a 12-month low of $179.10 and a 12-month high of $296.68.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings data 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 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%.The business's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $1.72 EPS. As a group, research analysts expect that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, August 20th. MarketAxess's dividend payout ratio (DPR) is currently 51.18%.

About MarketAxess

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.