MarketAxess Holdings Inc. $MKTX Stock Holdings Lifted by Algert Global LLC

Key Points

• Algert Global increased its MarketAxess stake by 478.2% in the second quarter, bringing its holdings to 112,400 shares valued at approximately $12.8 million. Institutional investors collectively own 99.01% of the company.
• MarketAxess reported quarterly earnings of $1.95 per share, exceeding analyst expectations of $1.85, while revenue reached $218.41 million. However, revenue declined 0.5% year over year.
• The company announced a quarterly dividend of $0.78 per share, equivalent to an annualized $3.12 and a 1.9% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $156.10.

Algert Global LLC increased its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 478.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,400 shares of the financial services provider's stock after acquiring an additional 92,960 shares during the quarter. Algert Global LLC owned 0.32% of MarketAxess worth $12,756,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in MarketAxess during the 2nd quarter valued at $453,941,000. Primecap Management Co. CA boosted its position in shares of MarketAxess by 42.4% in the fourth quarter. Primecap Management Co. CA now owns 3,175,425 shares of the financial services provider's stock worth $575,546,000 after buying an additional 944,830 shares during the period. AQR Capital Management LLC boosted its position in shares of MarketAxess by 169.0% in the fourth quarter. AQR Capital Management LLC now owns 2,558,097 shares of the financial services provider's stock worth $463,655,000 after buying an additional 1,607,009 shares during the period. North Reef Capital Management LP grew its holdings in shares of MarketAxess by 16.5% during the first quarter. North Reef Capital Management LP now owns 1,875,000 shares of the financial services provider's stock valued at $309,338,000 after buying an additional 265,670 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of MarketAxess by 4.6% during the second quarter. State Street Corp now owns 1,532,696 shares of the financial services provider's stock valued at $342,312,000 after buying an additional 67,290 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company's stock.

MarketAxess Stock Up 0.0%

Shares of MarketAxess stock opened at $162.50 on Wednesday. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 2.07 and a beta of 0.83. The stock has a 50-day simple moving average of $133.60 and a 200-day simple moving average of $150.75. MarketAxess Holdings Inc. has a 52-week low of $108.75 and a 52-week high of $195.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.85 and a quick ratio of 1.85.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.10. MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. The firm had revenue of $218.41 million for the quarter, compared to analyst estimates of $216.70 million. During the same quarter last year, the firm earned $2.00 earnings per share. The company's revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts expect that MarketAxess Holdings Inc. will post 8.06 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, August 19th. MarketAxess's dividend payout ratio (DPR) is 36.79%.

Analysts Set New Price Targets

A number of brokerages have commented on MKTX. The Goldman Sachs Group decreased their price objective on MarketAxess from $168.00 to $130.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Rothschild & Co Redburn restated a "neutral" rating and set a $134.00 price target (down from $189.00) on shares of MarketAxess in a report on Thursday, June 11th. William Blair downgraded shares of MarketAxess from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. Piper Sandler dropped their price objective on shares of MarketAxess from $175.00 to $128.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 15th. Finally, Morgan Stanley cut their target price on shares of MarketAxess from $195.00 to $129.00 and set an "equal weight" rating for the company in a research report on Friday, July 10th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $156.10.

About MarketAxess

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company's network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.

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