Sivia Capital Partners LLC Takes $406,000 Position in MarketAxess Holdings Inc. $MKTX

Key Points

• Sivia Capital Partners LLC acquired 1,818 shares of MarketAxess Holdings Inc. (NASDAQ: MKTX), valued at approximately $406,000, as noted in their latest SEC filing.
• The company reported quarterly earnings of $2.00 per share, exceeding analyst expectations, with a revenue increase of 11.0% year-over-year.
• MarketAxess recently announced a quarterly dividend of $0.76, reflecting a 1.7% dividend yield and a payout ratio of 51.18%.

Sivia Capital Partners LLC bought a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,818 shares of the financial services provider's stock, valued at approximately $406,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Comerica Bank boosted its position in MarketAxess by 0.9% during the first quarter. Comerica Bank now owns 5,181 shares of the financial services provider's stock worth $1,121,000 after purchasing an additional 48 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in MarketAxess by 49.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider's stock worth $35,000 after purchasing an additional 54 shares during the period. State of Wyoming boosted its position in MarketAxess by 13.6% during the fourth quarter. State of Wyoming now owns 483 shares of the financial services provider's stock worth $109,000 after purchasing an additional 58 shares during the period. Federated Hermes Inc. boosted its position in MarketAxess by 13.0% during the first quarter. Federated Hermes Inc. now owns 522 shares of the financial services provider's stock worth $113,000 after purchasing an additional 60 shares during the period. Finally, RMR Wealth Builders boosted its position in MarketAxess by 3.5% during the second quarter. RMR Wealth Builders now owns 2,025 shares of the financial services provider's stock worth $452,000 after purchasing an additional 68 shares during the period. 99.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MKTX has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of MarketAxess from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Morgan Stanley cut their price objective on shares of MarketAxess from $283.00 to $274.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Argus upgraded shares of MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 price objective for the company in a research report on Monday, August 25th. Jefferies Financial Group cut their price objective on shares of MarketAxess from $217.00 to $208.00 and set a "hold" rating for the company in a research report on Monday, August 11th. Finally, Barclays cut their price objective on shares of MarketAxess from $237.00 to $200.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $228.09.

Insider Transactions at MarketAxess

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

MarketAxess Stock Down 0.8%

MKTX stock traded down $1.39 during midday trading on Friday, hitting $178.32. The company's stock had a trading volume of 9,702,710 shares, compared to its average volume of 658,671. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 3.45 and a beta of 0.88. The company has a 50 day moving average of $194.10 and a two-hundred day moving average of $209.93. MarketAxess Holdings Inc. has a 12 month low of $177.84 and a 12 month high of $296.68.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.06. The business had revenue of $219.46 million during the quarter, compared to the consensus estimate of $218.05 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $1.72 earnings per share. On average, analysts anticipate that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.7%. MarketAxess's payout ratio is 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.