Lecap Asset Management Ltd. cut its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 43.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,494 shares of the financial services provider's stock after selling 4,245 shares during the period. Lecap Asset Management Ltd.'s holdings in MarketAxess were worth $1,189,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Keybank National Association OH raised its stake in shares of MarketAxess by 18.2% during the 4th quarter. Keybank National Association OH now owns 8,149 shares of the financial services provider's stock worth $1,842,000 after buying an additional 1,256 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of MarketAxess by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,224 shares of the financial services provider's stock worth $82,103,000 after buying an additional 5,153 shares in the last quarter. Norden Group LLC purchased a new position in shares of MarketAxess during the 4th quarter worth approximately $539,000. Taika Capital LP purchased a new position in shares of MarketAxess during the 4th quarter worth approximately $2,689,000. Finally, Raymond James Financial Inc. purchased a new position in shares of MarketAxess during the 4th quarter worth approximately $46,079,000. 99.01% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded MarketAxess from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Morgan Stanley increased their target price on MarketAxess from $263.00 to $283.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Bank of America increased their target price on MarketAxess from $189.00 to $191.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. Citigroup increased 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, UBS Group dropped their price objective on MarketAxess from $305.00 to $295.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, MarketAxess has an average rating of "Hold" and an average price target of $241.78.
Check Out Our Latest Stock Analysis on MarketAxess
MarketAxess Price Performance
NASDAQ MKTX opened at $223.16 on Thursday. MarketAxess Holdings Inc. has a 1-year low of $186.84 and a 1-year high of $296.68. The company has a market capitalization of $8.37 billion, a P/E ratio of 38.81, a PEG ratio of 2.89 and a beta of 0.84. The business has a 50 day moving average price of $221.04 and a 200 day moving average price of $216.84.
MarketAxess (NASDAQ:MKTX - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.05. The firm had revenue of $208.58 million for the quarter, compared to analysts' expectations of $211.81 million. MarketAxess had a return on equity of 19.93% and a net margin of 26.57%. MarketAxess's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.92 EPS. On average, research analysts expect that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.
MarketAxess Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Wednesday, May 21st. MarketAxess's dividend payout ratio (DPR) is presently 52.87%.
MarketAxess Profile
(
Free Report)
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.
Further Reading
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