MarketAxess (NASDAQ:MKTX) CRO Kevin M. Mcpherson Sells 1,494 Shares

Key Points

• Kevin Mcpherson, the Chief Risk Officer of MarketAxess, sold 1,494 shares for a total of $276,868.08, reducing his stake in the company by 2.16%.
• MarketAxess's recent stock performance shows a price drop to $181.68, with a significant market cap of $6.79 billion and revenue growth of 11.0% year-over-year.
• The company announced a quarterly dividend of $0.76, showcasing a payout ratio of 51.18% with an annualized yield of 1.7%.

MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) CRO Kevin M. Mcpherson sold 1,494 shares of MarketAxess stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $185.32, for a total value of $276,868.08. Following the sale, the executive directly owned 67,681 shares of the company's stock, valued at approximately $12,542,642.92. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

MarketAxess Stock Performance

NASDAQ:MKTX traded down $1.39 during mid-day trading on Friday, hitting $178.32. 9,702,710 shares of the stock were exchanged, compared to its average volume of 658,671. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 3.48 and a beta of 0.88. The firm's 50-day simple moving average is $194.10 and its 200 day simple moving average is $209.83. MarketAxess Holdings Inc. has a fifty-two week low of $177.84 and a fifty-two week high of $296.68.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released 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 analysts' expectations of $218.05 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $1.72 EPS. On average, analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

MarketAxess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were issued a $0.76 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.04 annualized dividend and a yield of 1.7%. MarketAxess's payout ratio is currently 51.18%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $204.00 price objective (up from $202.00) on shares of MarketAxess in a report on Tuesday, July 15th. Argus raised MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 price objective for the company in a report on Monday, August 25th. Wall Street Zen raised MarketAxess from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Jefferies Financial Group dropped their price objective on MarketAxess from $217.00 to $208.00 and set a "hold" rating for the company in a report on Monday, August 11th. Finally, Barclays dropped their price objective on MarketAxess from $237.00 to $200.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $228.09.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its stake in shares of MarketAxess by 1.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,323,015 shares of the financial services provider's stock worth $502,585,000 after purchasing an additional 24,606 shares during the last quarter. State Street Corp raised its stake in shares of MarketAxess by 4.6% in 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 last quarter. Geode Capital Management LLC raised its stake in shares of MarketAxess by 0.6% in the second quarter. Geode Capital Management LLC now owns 1,141,198 shares of the financial services provider's stock worth $254,460,000 after purchasing an additional 6,448 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of MarketAxess by 485.6% in the second quarter. AQR Capital Management LLC now owns 758,462 shares of the financial services provider's stock worth $167,195,000 after purchasing an additional 628,954 shares during the last quarter. Finally, Findlay Park Partners LLP raised its stake in shares of MarketAxess by 1.4% in the first quarter. Findlay Park Partners LLP now owns 680,000 shares of the financial services provider's stock worth $147,118,000 after purchasing an additional 9,100 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

About MarketAxess

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.