Russell Investments Group Ltd. cut its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 30.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,188 shares of the financial services provider's stock after selling 7,668 shares during the period. Russell Investments Group Ltd.'s holdings in MarketAxess were worth $3,720,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Clear Creek Financial Management LLC purchased a new stake in shares of MarketAxess during the 1st quarter valued at $280,000. Praxis Investment Management Inc. purchased a new stake in shares of MarketAxess during the 1st quarter valued at $376,000. Wilson Asset Management International PTY Ltd. grew its stake in shares of MarketAxess by 26.6% during the 1st quarter. Wilson Asset Management International PTY Ltd. now owns 60,492 shares of the financial services provider's stock valued at $13,087,000 after buying an additional 12,697 shares during the period. Victory Capital Management Inc. grew its stake in shares of MarketAxess by 210.8% during the 1st quarter. Victory Capital Management Inc. now owns 17,400 shares of the financial services provider's stock valued at $3,764,000 after buying an additional 11,801 shares during the period. Finally, First Citizens Bank & Trust Co. grew its stake in shares of MarketAxess by 13.6% during the 1st quarter. First Citizens Bank & Trust Co. now owns 24,671 shares of the financial services provider's stock valued at $5,338,000 after buying an additional 2,947 shares during the period. 99.01% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
MKTX has been the topic of several recent research reports. Citigroup lifted their target price on shares of MarketAxess from $250.00 to $265.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Argus upgraded shares of MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 target price on the stock in a report on Monday. Piper Sandler restated a "neutral" rating and set a $204.00 target price (up previously from $202.00) on shares of MarketAxess in a report on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their target price on shares of MarketAxess from $223.00 to $226.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Finally, Barclays reduced their target price on shares of MarketAxess from $237.00 to $200.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $228.09.
Check Out Our Latest Stock Report on MarketAxess
MarketAxess Trading Down 0.2%
MKTX stock traded down $0.37 during trading on Tuesday, reaching $189.78. The stock had a trading volume of 551,699 shares, compared to its average volume of 592,633. MarketAxess Holdings Inc. has a 1-year low of $182.99 and a 1-year high of $296.68. The company has a market capitalization of $7.09 billion, a P/E ratio of 31.95, a PEG ratio of 3.66 and a beta of 0.84. The firm has a fifty day moving average price of $208.04 and a 200 day moving average price of $211.33.
MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.06. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The firm had revenue of $219.46 million for the quarter, compared to analyst estimates of $218.05 million. During the same quarter in the previous year, the business posted $1.72 EPS. The firm's revenue was up 11.0% compared to the same quarter last year. Sell-side analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.
MarketAxess Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be given 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 Profile
(
Free Report)
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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