MarketAxess (NASDAQ:MKTX) General Counsel Scott Pintoff Sells 100 Shares

Key Points

• MarketAxess General Counsel Scott Pintoff sold 100 shares on April 10 at an average price of $171.96 under a pre‑arranged Rule 10b5‑1 plan, netting $17,196 and reducing his stake to 11,986 shares (a 0.83% decrease).
• Company results and outlook: MarketAxess missed quarterly estimates (EPS $1.68 vs. $1.72; revenue $209.41M vs. $214.06M), raised its quarterly dividend to $0.78 (annualized $3.12, ~1.8% yield), and carries a consensus "Hold" rating with a $201.11 price target.

MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) General Counsel Scott Pintoff sold 100 shares of the business's stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $171.96, for a total transaction of $17,196.00. Following the transaction, the general counsel owned 11,986 shares of the company's stock, valued at approximately $2,061,112.56. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Scott Pintoff also recently made the following trade(s):

• On Monday, January 12th, Scott Pintoff sold 100 shares of MarketAxess stock. The shares were sold at an average price of $168.63, for a total value of $16,863.00.

MarketAxess Price Performance

Shares of MarketAxess stock traded down $0.83 during trading on Friday, reaching $171.94. 252,679 shares of the company's stock were exchanged, compared to its average volume of 546,581. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.80 and a current ratio of 2.80. MarketAxess Holdings Inc. has a 1-year low of $156.17 and a 1-year high of $232.84. The company has a market cap of $6.11 billion, a P/E ratio of 25.82, a PEG ratio of 2.56 and a beta of 1.01. The firm's 50-day moving average price is $175.86 and its 200 day moving average price is $173.25.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its quarterly earnings data on Friday, February 6th. The financial services provider reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). The business had revenue of $209.41 million during the quarter, compared to analyst estimates of $214.06 million. MarketAxess had a net margin of 29.14% and a return on equity of 20.88%. The business's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $1.73 earnings per share. As a group, research analysts anticipate that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, February 18th. This is a positive change from MarketAxess's previous quarterly dividend of $0.76. MarketAxess's payout ratio is currently 46.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MKTX. Argus cut MarketAxess from a "buy" rating to a "hold" rating in a research note on Tuesday, March 17th. Piper Sandler reduced their price objective on MarketAxess from $180.00 to $175.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 14th. Weiss Ratings raised MarketAxess from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, February 10th. UBS Group cut their price target on MarketAxess from $240.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, January 9th. Finally, Morgan Stanley reduced their price target on MarketAxess from $204.00 to $195.00 and set an "equal weight" rating on the stock in a report on Thursday, January 15th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $201.11.

Institutional Trading of MarketAxess

Institutional investors have recently modified their holdings of the business. MUFG Securities EMEA plc acquired a new position in MarketAxess during the 2nd quarter worth about $25,000. Geneos Wealth Management Inc. increased its stake in shares of MarketAxess by 200.0% in the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock valued at $26,000 after buying an additional 80 shares during the period. Activest Wealth Management bought a new position in shares of MarketAxess during the fourth quarter worth about $28,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of MarketAxess during the third quarter worth about $38,000. Finally, Stance Capital LLC acquired a new position in shares of MarketAxess in the third quarter worth approximately $42,000. Institutional investors own 99.01% of the company's stock.

About MarketAxess

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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