7,931 Shares in MarketAxess Holdings Inc. $MKTX Bought by Twin Tree Management LP

Key Points

• Twin Tree Management LP acquired 7,931 shares of MarketAxess Holdings Inc., valued at approximately $1.716 million, indicating strong institutional interest in the company.
• MarketAxess reported a quarterly earnings per share of $2.00, exceeding analysts' expectations and showing an 11% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.76, set to be paid on September 3rd, with a dividend yield of 1.7%.

Twin Tree Management LP purchased a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,931 shares of the financial services provider's stock, valued at approximately $1,716,000.

Other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its position in MarketAxess by 49.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider's stock worth $35,000 after buying an additional 54 shares during the last quarter. UMB Bank n.a. grew 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 worth $48,000 after buying an additional 81 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in MarketAxess in the first quarter worth approximately $56,000. Intact Investment Management Inc. acquired a new position in MarketAxess in the first quarter worth approximately $65,000. Finally, Signaturefd LLC grew its position in MarketAxess by 173.0% in the first quarter. Signaturefd LLC now owns 333 shares of the financial services provider's stock worth $72,000 after buying an additional 211 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of MarketAxess from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup lifted their price objective on shares of MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Argus upgraded shares of MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 price objective on the stock in a research report on Monday, August 25th. Jefferies Financial Group lowered their price objective on shares of MarketAxess from $217.00 to $208.00 and set a "hold" rating on the stock in a research report on Monday, August 11th. Finally, Piper Sandler reiterated a "neutral" rating and set a $204.00 price objective (up from $202.00) on shares of MarketAxess in a research report on Tuesday, July 15th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $228.09.

MarketAxess Price Performance

Shares of MKTX stock traded down $1.46 on Thursday, hitting $180.13. The company's stock had a trading volume of 716,189 shares, compared to its average volume of 596,012. MarketAxess Holdings Inc. has a fifty-two week low of $178.20 and a fifty-two week high of $296.68. The firm's fifty day moving average price is $202.80 and its 200-day moving average price is $210.62. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 30.32, a P/E/G ratio of 3.56 and a beta of 0.88.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.06. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The business had revenue of $219.46 million during the quarter, compared to analyst estimates of $218.05 million. During the same quarter in the previous year, the business earned $1.72 EPS. MarketAxess's quarterly revenue was up 11.0% compared to the same quarter last year. Analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS 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 $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, August 20th. MarketAxess's dividend payout ratio (DPR) is 51.18%.

MarketAxess Company 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.