PDT Partners LLC Invests $3.20 Million in MarketAxess Holdings Inc. $MKTX

Key Points

• PDT Partners acquired 28,171 MarketAxess shares worth approximately $3.20 million in the second quarter, giving it a 0.08% stake. Institutional investors collectively own 99.01% of the company.
• MarketAxess beat quarterly earnings expectations, reporting $1.95 in EPS versus the $1.85 consensus and $218.41 million in revenue, although revenue declined 0.5% year over year.
• The company declared a quarterly dividend of $0.78 per share, equivalent to a $3.12 annualized payout and a 1.9% yield. Analysts remain cautious, with an overall “Hold” rating and a consensus price target of $156.10.

PDT Partners LLC acquired a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 28,171 shares of the financial services provider's stock, valued at approximately $3,197,000. PDT Partners LLC owned 0.08% of MarketAxess as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. MUFG Securities EMEA plc purchased a new position in MarketAxess in the 2nd quarter worth about $25,000. Geneos Wealth Management Inc. boosted its position in MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock valued at $26,000 after buying an additional 80 shares during the period. Activest Wealth Management bought a new position in MarketAxess in the 4th quarter worth about $28,000. Pacer Advisors Inc. increased its position in shares of MarketAxess by 300.0% during the fourth quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider's stock worth $51,000 after acquiring an additional 210 shares during the period. Finally, Westpac Banking Corp purchased a new position in shares of MarketAxess during the first quarter worth approximately $56,000. Institutional investors own 99.01% of the company's stock.

MarketAxess Trading Up 0.0%

Shares of NASDAQ MKTX opened at $162.52 on Thursday. MarketAxess Holdings Inc. has a 1-year low of $108.75 and a 1-year high of $195.96. The business has a fifty day moving average price of $134.45 and a 200 day moving average price of $150.74. The stock has a market capitalization of $5.72 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83. 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 posted its earnings results on Thursday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. The company had revenue of $218.41 million for the quarter, compared to analyst estimates of $216.70 million. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.The firm's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.00 earnings per share. Equities research analysts expect that MarketAxess Holdings Inc. will post 8.06 EPS for the current fiscal year.

MarketAxess Dividend Announcement

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

Wall Street Analysts Forecast Growth

MKTX has been the topic of several research analyst reports. William Blair cut MarketAxess from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $167.00 target price (up from $150.00) on shares of MarketAxess in a report on Tuesday, August 11th. UBS Group lowered MarketAxess from a "buy" rating to a "neutral" rating and cut their price target for the company from $200.00 to $167.00 in a research note on Friday, July 31st. Wall Street Zen downgraded MarketAxess from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Finally, Benchmark reaffirmed a "buy" rating on shares of MarketAxess in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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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