MarketAxess Holdings Inc. $MKTX Stake Raised by Elevate Capital Advisors LLC

Key Points

• Elevate Capital Advisors LLC increased its stake in MarketAxess Holdings Inc. by 106.2% in the second quarter, making the stock its 28th largest holding, valued at approximately $2.06 million.
• Several hedge funds have also adjusted their positions in MarketAxess, with Institutional investors and hedge funds owning 99.01% of the company’s stock.
• MarketAxess recently announced a quarterly dividend of $0.76 per share, resulting in an annualized yield of 1.8%, with a payout ratio of 51.18%.

Elevate Capital Advisors LLC grew its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 106.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,249 shares of the financial services provider's stock after buying an additional 4,763 shares during the period. MarketAxess accounts for about 1.6% of Elevate Capital Advisors LLC's investment portfolio, making the stock its 28th biggest holding. Elevate Capital Advisors LLC's holdings in MarketAxess were worth $2,066,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MKTX. Geneos Wealth Management Inc. increased its stake in shares of MarketAxess by 200.0% during the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 80 shares during the period. Harbor Investment Advisory LLC acquired a new position in shares of MarketAxess during the second quarter valued at approximately $37,000. UMB Bank n.a. grew 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 worth $48,000 after buying an additional 81 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in MarketAxess by 51.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the financial services provider's stock worth $55,000 after buying an additional 84 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in MarketAxess in the first quarter worth approximately $56,000. Institutional investors and hedge funds own 99.01% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on MKTX. Barclays decreased their price target on shares of MarketAxess from $237.00 to $200.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. 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. Piper Sandler reissued a "neutral" rating and set a $204.00 target price (up previously from $202.00) on shares of MarketAxess in a research note on Tuesday, July 15th. Weiss Ratings reissued a "hold (c-)" rating on shares of MarketAxess in a research note on Saturday, September 27th. Finally, Argus raised shares of MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 target price for the company in a research note on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $226.18.

Insider Transactions at MarketAxess

In related news, CRO Kevin M. Mcpherson sold 1,494 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $185.32, for a total value of $276,868.08. Following the sale, the executive owned 67,681 shares of the company's stock, valued at $12,542,642.92. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen P. Casper sold 1,600 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $186.59, for a total transaction of $298,544.00. Following the completion of the sale, the director directly owned 43,208 shares in the company, valued at approximately $8,062,180.72. The trade was a 3.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.65% of the company's stock.

MarketAxess Stock Performance

NASDAQ:MKTX opened at $170.50 on Friday. The firm's 50-day moving average is $186.80 and its 200-day moving average is $207.48. MarketAxess Holdings Inc. has a 52-week low of $168.74 and a 52-week high of $296.68. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.30 and a beta of 0.89.

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. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The company had revenue of $219.46 million for the quarter, compared to the consensus estimate of $218.05 million. During the same quarter in the previous year, the firm posted $1.72 EPS. The business's revenue was up 11.0% compared to the same quarter last year. Equities analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a $0.76 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.04 dividend on an annualized basis and a yield of 1.8%. MarketAxess's payout ratio is presently 51.18%.

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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