MarketAxess (NASDAQ:MKTX) CRO Sells $276,868.08 in Stock

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 Mcpherson sold 1,494 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $185.32, for a total transaction of $276,868.08. Following the completion of the sale, the executive 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

MarketAxess Stock Performance

Shares of NASDAQ MKTX traded down $3.17 during mid-day trading on Monday, hitting $181.68. 737,078 shares of the stock were exchanged, compared to its average volume of 602,405. The company has a market cap of $6.79 billion, a P/E ratio of 30.59, a PEG ratio of 3.58 and a beta of 0.88. The stock's fifty day simple moving average is $197.83 and its two-hundred day simple moving average is $210.52. MarketAxess Holdings Inc. has a twelve month low of $178.20 and a twelve month high of $296.68.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings data 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. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The firm had revenue of $219.46 million during the quarter, compared to analysts' expectations of $218.05 million. During the same quarter in the previous year, the company posted $1.72 EPS. MarketAxess's revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts predict that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

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

Institutional Investors Weigh In On MarketAxess

Large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its holdings in shares of MarketAxess by 3.3% during the second quarter. Osaic Holdings Inc. now owns 5,307 shares of the financial services provider's stock valued at $1,184,000 after buying an additional 170 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in MarketAxess by 1.7% during the second quarter. Orion Porfolio Solutions LLC now owns 4,203 shares of the financial services provider's stock worth $939,000 after purchasing an additional 69 shares during the last quarter. State of Wyoming boosted its holdings in MarketAxess by 4,361.5% during the second quarter. State of Wyoming now owns 580 shares of the financial services provider's stock worth $130,000 after purchasing an additional 567 shares during the last quarter. Caxton Associates LLP purchased a new position in MarketAxess during the second quarter worth about $703,000. Finally, Rexford Capital Inc. purchased a new position in MarketAxess during the second quarter worth about $137,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley cut their price target on shares of MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Piper Sandler restated a "neutral" rating and set a $204.00 target price (up previously from $202.00) on shares of MarketAxess in a research report on Tuesday, July 15th. Jefferies Financial Group decreased their target price 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. UBS Group decreased their target price on shares of MarketAxess from $295.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of MarketAxess from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, MarketAxess has a consensus rating of "Hold" and a consensus target price of $228.09.

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.

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