MarketAxess Holdings Inc. $MKTX Shares Sold by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. significantly reduced its stake in MarketAxess Holdings Inc. by 71.5%, owning 1,095 shares worth approximately $237,000 at the end of the first quarter.
• Several institutional investors, including MassMutual Private Wealth & Trust and Signaturefd LLC, increased their positions in MarketAxess, highlighting strong institutional support with 99.01% of the stock now owned by institutional investors.
• MarketAxess recently declared a quarterly dividend of $0.76 per share, translating to an annualized dividend yield of 1.6%, with a payout ratio of 51.18%.

Fox Run Management L.L.C. lessened its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 71.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,095 shares of the financial services provider's stock after selling 2,752 shares during the period. Fox Run Management L.L.C.'s holdings in MarketAxess were worth $237,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MKTX shares. Morgan Stanley cut their price target on shares of MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Jefferies Financial Group lowered their price objective on shares of MarketAxess from $217.00 to $208.00 and set a "hold" rating on the stock in a research report on Monday, August 11th. Keefe, Bruyette & Woods increased their target price on MarketAxess from $223.00 to $226.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Wall Street Zen raised MarketAxess from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Citigroup lifted their price target on MarketAxess from $250.00 to $265.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Four research 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $229.70.

MarketAxess Stock Up 1.2%

Shares of NASDAQ:MKTX opened at $189.12 on Thursday. The firm has a fifty day moving average of $210.27 and a two-hundred day moving average of $211.66. MarketAxess Holdings Inc. has a 12-month low of $182.99 and a 12-month high of $296.68. The firm has a market capitalization of $7.07 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 3.62 and a beta of 0.84.

MarketAxess (NASDAQ:MKTX - Get Free Report) last announced 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. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The business had revenue of $219.46 million during the quarter, compared to analyst estimates of $218.05 million. During the same period last year, the company earned $1.72 earnings per share. MarketAxess's quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts expect that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

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

MarketAxess Company 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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