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

Key Points

• MarketAxess General Counsel Scott Pintoff sold 100 shares on July 10 at an average price of $115.12, totaling $11,512. After the sale, he still held 11,686 shares worth about $1.35 million.
• The sale comes amid recent insider selling, as Pintoff also sold 100 shares in both June and May, with those transactions priced at $116.03 and $146.99, respectively.
• MarketAxess reported solid quarterly results, posting EPS of $2.25 and revenue of $233.38 million, both above expectations; the company also pays a quarterly dividend of $0.78, yielding about 2.7% annually.

MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) General Counsel Scott Pintoff sold 100 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $115.12, for a total value of $11,512.00. Following the completion of the sale, the general counsel owned 11,686 shares in the company, valued at approximately $1,345,292.32. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, June 10th, Scott Pintoff sold 100 shares of MarketAxess stock. The shares were sold at an average price of $116.03, for a total transaction of $11,603.00.
• On Monday, May 11th, Scott Pintoff sold 100 shares of MarketAxess stock. The stock was sold at an average price of $146.99, for a total transaction of $14,699.00.

MarketAxess Stock Performance

Shares of MKTX stock traded down $0.12 during midday trading on Friday, hitting $113.86. 517,179 shares of the company were exchanged, compared to its average volume of 602,261. The firm has a market capitalization of $4.05 billion, a P/E ratio of 13.46, a PEG ratio of 3.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.17 and a current ratio of 2.17. MarketAxess Holdings Inc. has a 52 week low of $108.75 and a 52 week high of $219.18. The firm's 50 day moving average price is $127.81 and its two-hundred day moving average price is $158.12.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.10. The firm had revenue of $233.38 million during the quarter, compared to the consensus estimate of $231.91 million. MarketAxess had a net margin of 35.53% and a return on equity of 22.28%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $1.87 earnings per share. As a group, equities research analysts anticipate that MarketAxess Holdings Inc. will post 7.98 earnings per share for the current year.

MarketAxess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, May 20th. MarketAxess's dividend payout ratio is currently 36.88%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MKTX. Wealth Enhancement Advisory Services LLC raised its holdings in shares of MarketAxess by 305.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 46,537 shares of the financial services provider's stock worth $8,449,000 after buying an additional 35,056 shares in the last quarter. North Reef Capital Management LP lifted its position in shares of MarketAxess by 117.0% during the 3rd quarter. North Reef Capital Management LP now owns 911,358 shares of the financial services provider's stock worth $158,804,000 after buying an additional 491,358 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in MarketAxess by 163.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 12,579 shares of the financial services provider's stock valued at $2,280,000 after buying an additional 7,798 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in MarketAxess in the third quarter valued at about $2,435,000. Finally, Alpha Omega Wealth Management LLC bought a new position in MarketAxess in the fourth quarter valued at about $1,326,000. Institutional investors and hedge funds own 99.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MKTX. Barclays dropped their target price on MarketAxess from $170.00 to $132.00 and set an "equal weight" rating for the company in a report on Thursday. UBS Group decreased their price target on shares of MarketAxess from $215.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday. Bank of America raised shares of MarketAxess from an "underperform" rating to a "neutral" rating and set a $170.00 price target on the stock in a research report on Friday, June 12th. Argus cut shares of MarketAxess from a "buy" rating to a "hold" rating in a research note on Tuesday, March 17th. Finally, Weiss Ratings downgraded shares of MarketAxess from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, MarketAxess has an average rating of "Hold" and an average price target of $167.45.

MarketAxess Company 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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