Sone Capital Management LLC purchased a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 155,522 shares of the financial services provider's stock, valued at approximately $17,650,000. Sone Capital Management LLC owned approximately 0.44% of MarketAxess at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of MKTX. Algert Global LLC grew its stake in shares of MarketAxess by 478.2% in the second quarter. Algert Global LLC now owns 112,400 shares of the financial services provider's stock worth $12,756,000 after acquiring an additional 92,960 shares during the last quarter. Cibc World Market Inc. acquired a new position in MarketAxess during the 2nd quarter valued at $8,885,000. Sanctuary Advisors LLC bought a new stake in MarketAxess in the 2nd quarter valued at $1,325,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in MarketAxess in the 2nd quarter valued at $21,184,000. Finally, Globeflex Capital L P acquired a new stake in MarketAxess in the 2nd quarter worth $156,000. 99.01% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
MKTX has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of MarketAxess from $132.00 to $167.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. Wall Street Zen cut MarketAxess from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Morgan Stanley reduced their price objective on MarketAxess from $195.00 to $129.00 and set an "equal weight" rating for the company in a research report on Friday, July 10th. UBS Group lowered MarketAxess from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $200.00 to $167.00 in a report on Friday, July 31st. Finally, Piper Sandler lowered their price objective on MarketAxess from $175.00 to $128.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, MarketAxess has an average rating of "Hold" and an average price target of $156.10.
Check Out Our Latest Stock Report on MarketAxess
MarketAxess Trading Up 0.2%
Shares of MKTX stock opened at $162.46 on Tuesday. MarketAxess Holdings Inc. has a 12-month low of $108.75 and a 12-month high of $195.96. The company has a market capitalization of $5.72 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.07 and a beta of 0.83. The firm has a 50-day moving average price of $132.84 and a 200 day moving average price of $150.74. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.09.
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, topping the consensus estimate of $1.85 by $0.10. The firm had revenue of $218.41 million for the quarter, compared to analysts' expectations of $216.70 million. MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.00 earnings per share. Research analysts forecast that MarketAxess Holdings Inc. will post 8.06 earnings per share for the current fiscal year.
MarketAxess Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 19th. MarketAxess's payout ratio is presently 36.79%.
MarketAxess Profile
(
Free Report)
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.
Further Reading
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