Van Den Berg Management I Inc. Has $5.91 Million Holdings in MarketAxess Holdings Inc. $MKTX

Key Points

• Van Den Berg Management I increased its MarketAxess stake by 65.7% in the second quarter, bringing its holdings to 52,054 shares worth approximately $5.91 million. Institutional investors collectively own 99.01% of the company.
• MarketAxess reported quarterly EPS of $1.95, beating estimates of $1.85, while revenue of $218.41 million slightly exceeded forecasts but declined 0.5% year over year.
• Analyst sentiment remains cautious, with one Buy, eleven Hold and one Sell rating; the consensus rating is “Hold” with a target price of $156.10. The company also declared a quarterly dividend of $0.78 per share, implying a 1.9% yield.

Van Den Berg Management I Inc. increased its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 65.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,054 shares of the financial services provider's stock after buying an additional 20,631 shares during the period. Van Den Berg Management I Inc. owned 0.15% of MarketAxess worth $5,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in MarketAxess in the second quarter valued at $453,941,000. Primecap Management Co. CA acquired a new position in shares of MarketAxess during the 2nd quarter worth about $397,772,000. AQR Capital Management LLC raised its holdings in shares of MarketAxess by 169.0% in the 4th quarter. AQR Capital Management LLC now owns 2,558,097 shares of the financial services provider's stock valued at $463,655,000 after purchasing an additional 1,607,009 shares during the period. North Reef Capital Management LP lifted its stake in MarketAxess by 16.5% in the 1st quarter. North Reef Capital Management LP now owns 1,875,000 shares of the financial services provider's stock valued at $309,338,000 after purchasing an additional 265,670 shares during the last quarter. Finally, State Street Corp grew its holdings in MarketAxess by 4.6% during the second quarter. State Street Corp now owns 1,532,696 shares of the financial services provider's stock worth $342,312,000 after purchasing an additional 67,290 shares during the period. 99.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MKTX. Piper Sandler cut their price objective on MarketAxess from $175.00 to $128.00 and set a "neutral" rating for the company in a research report on Wednesday, July 15th. The Goldman Sachs Group dropped their price target on MarketAxess from $168.00 to $130.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. Morgan Stanley reduced their price objective on shares of MarketAxess from $195.00 to $129.00 and set an "equal weight" rating for the company in a research report on Friday, July 10th. William Blair cut shares of MarketAxess from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. Finally, Bank of America upgraded shares of MarketAxess from an "underperform" rating to a "neutral" rating and set a $170.00 price objective on the stock in a report on Friday, June 12th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $156.10.

MarketAxess Trading Up 0.2%

Shares of NASDAQ:MKTX opened at $162.72 on Friday. MarketAxess Holdings Inc. has a 12-month low of $108.75 and a 12-month high of $195.96. The stock has a market cap of $5.73 billion, a PE ratio of 19.19, a P/E/G ratio of 2.07 and a beta of 0.83. The business has a 50 day moving average of $136.14 and a 200-day moving average of $150.83. 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 posted its earnings results on Thursday, July 30th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.85 by $0.10. The company had revenue of $218.41 million for the quarter, compared to the consensus estimate of $216.70 million. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.The firm's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 earnings per share. As a group, equities research analysts forecast that MarketAxess Holdings Inc. will post 8.06 earnings per share for the current year.

MarketAxess Dividend Announcement

The company 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 dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. MarketAxess's dividend payout ratio (DPR) is currently 36.79%.

MarketAxess Profile

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.

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