MarketAxess Holdings Inc. $MKTX Shares Acquired by Findlay Park Partners LLP

Key Points

• Findlay Park Partners LLP increased its stake in MarketAxess Holdings Inc. by 1.4% in Q1, owning 680,000 shares valued at approximately $147.1 million.
• MarketAxess reported earnings of $2.00 EPS for the latest quarter, exceeding expectations, with revenue up 11% year-over-year.
• The company declared a quarterly dividend of $0.76, representing an annualized dividend yield of 1.6%, with a payout ratio of 51.18%.

Findlay Park Partners LLP boosted its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 680,000 shares of the financial services provider's stock after buying an additional 9,100 shares during the period. Findlay Park Partners LLP owned 1.83% of MarketAxess worth $147,118,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. MassMutual Private Wealth & Trust FSB lifted its stake in MarketAxess by 49.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider's stock worth $35,000 after purchasing an additional 54 shares in the last quarter. UMB Bank n.a. raised its position in MarketAxess by 57.4% in the first quarter. UMB Bank n.a. now owns 222 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 81 shares during the period. Harbor Capital Advisors Inc. purchased a new position in MarketAxess during the 1st quarter valued at about $56,000. Intact Investment Management Inc. acquired a new position in shares of MarketAxess in the first quarter valued at approximately $65,000. Finally, Signaturefd LLC increased its position in shares of MarketAxess by 173.0% during the first quarter. Signaturefd LLC now owns 333 shares of the financial services provider's stock worth $72,000 after acquiring an additional 211 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

MarketAxess Stock Up 0.8%

Shares of MarketAxess stock opened at $190.15 on Tuesday. MarketAxess Holdings Inc. has a fifty-two week low of $182.99 and a fifty-two week high of $296.68. The firm has a market cap of $7.10 billion, a PE ratio of 32.01, a P/E/G ratio of 3.66 and a beta of 0.84. The business's fifty day moving average is $208.04 and its two-hundred day moving average is $211.33.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.06. The business had revenue of $219.46 million for the quarter, compared to analysts' expectations of $218.05 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The business's revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 earnings per share. Equities research analysts anticipate that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be issued a $0.76 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $3.04 annualized dividend and a yield of 1.6%. MarketAxess's payout ratio is 51.18%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of MarketAxess from $223.00 to $226.00 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. Argus upgraded shares of MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 price target for the company in a research report on Monday. Wall Street Zen raised MarketAxess from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Jefferies Financial Group reduced their target price on shares of MarketAxess from $217.00 to $208.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Finally, Barclays dropped their price objective on MarketAxess from $237.00 to $200.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MarketAxess presently has an average 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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