Resona Asset Management Co. Ltd. Sells 11,191 Shares of MarketAxess Holdings Inc. $MKTX

Key Points

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Resona Asset Management Co. Ltd. cut its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 97.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 306 shares of the financial services provider's stock after selling 11,191 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in MarketAxess were worth $66,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MKTX. MassMutual Private Wealth & Trust FSB grew its holdings 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 valued at $35,000 after buying 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 last quarter. Harbor Capital Advisors Inc. bought a new position in MarketAxess in the first quarter valued at about $56,000. Intact Investment Management Inc. bought a new position in MarketAxess in the first quarter valued at about $65,000. Finally, Signaturefd LLC increased its stake in shares of MarketAxess by 173.0% in 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 during the period. 99.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays decreased their target price on MarketAxess from $237.00 to $200.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. UBS Group reduced their price objective on MarketAxess from $295.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Wall Street Zen upgraded MarketAxess from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Jefferies Financial Group dropped their target price on MarketAxess from $217.00 to $208.00 and set a "hold" rating on the stock in a report on Monday, August 11th. Finally, Morgan Stanley dropped their price target on MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $229.70.

MarketAxess Stock Down 1.8%

Shares of MKTX stock opened at $186.61 on Tuesday. The business has a 50-day moving average price of $211.74 and a two-hundred day moving average price of $211.99. MarketAxess Holdings Inc. has a 12-month low of $182.99 and a 12-month high of $296.68. The firm has a market cap of $6.97 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 3.61 and a beta of 0.84.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.06. The company had revenue of $219.46 million during the quarter, compared to analyst estimates of $218.05 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%. MarketAxess's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.72 EPS. As a group, research analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

MarketAxess Dividend Announcement

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 given a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.04 dividend on an annualized basis and a yield of 1.6%. MarketAxess's dividend 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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