MarketAxess (NASDAQ:MKTX) General Counsel Sells $16,260.00 in Stock

Key Points

• MarketAxess General Counsel Scott Pintoff sold 100 shares at an average price of $162.60, generating $16,260 and reducing his holdings by 0.86% to 11,586 shares. He also sold 100 shares in each of the prior two months.
• MarketAxess reported quarterly earnings of $1.95 per share, beating estimates of $1.85, while revenue of $218.41 million slightly exceeded expectations but declined 0.5% year over year.
• The company declared a quarterly dividend of $0.78 per share, equivalent to a $3.12 annualized payout and a 1.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $163.36.

MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) General Counsel Scott Pintoff sold 100 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $162.60, for a total value of $16,260.00. Following the completion of the transaction, the general counsel owned 11,586 shares of the company's stock, valued at approximately $1,883,883.60. This trade represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, July 10th, Scott Pintoff sold 100 shares of MarketAxess stock. The shares were sold at an average price of $115.12, for a total transaction of $11,512.00.
• On Wednesday, June 10th, Scott Pintoff sold 100 shares of MarketAxess stock. The stock was sold at an average price of $116.03, for a total transaction of $11,603.00.

MarketAxess Stock Down 0.0%

Shares of MarketAxess stock traded down $0.03 during trading on Monday, hitting $162.50. The company's stock had a trading volume of 999,605 shares, compared to its average volume of 699,286. MarketAxess Holdings Inc. has a 52 week low of $108.75 and a 52 week high of $195.96. The company has a market capitalization of $5.78 billion, a PE ratio of 19.16, a P/E/G ratio of 4.12 and a beta of 0.83. The company has a fifty day simple moving average of $123.51 and a two-hundred day simple moving average of $151.27. 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 (NASDAQ:MKTX - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.10. MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. The business had revenue of $218.41 million for the quarter, compared to analysts' expectations of $216.70 million. During the same quarter in the prior year, the company earned $2.00 earnings per share. The business's revenue was down .5% compared to the same quarter last year. Equities research analysts predict that MarketAxess Holdings Inc. will post 8.04 earnings per share for the current year.

MarketAxess Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 19th. MarketAxess's dividend payout ratio is 36.79%.

Institutional Investors Weigh In On MarketAxess

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MUFG Securities EMEA plc bought a new stake in shares of MarketAxess in the second quarter worth $25,000. Geneos Wealth Management Inc. boosted its position in MarketAxess by 200.0% in the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock worth $26,000 after purchasing an additional 80 shares during the last quarter. Activest Wealth Management purchased a new position in MarketAxess in the fourth quarter worth about $28,000. Versant Capital Management Inc grew its stake in shares of MarketAxess by 215.3% during the 2nd quarter. Versant Capital Management Inc now owns 391 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 267 shares during the period. Finally, State of Wyoming bought a new stake in shares of MarketAxess during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 99.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MKTX. UBS Group cut shares of MarketAxess from a "buy" rating to a "neutral" rating and cut their price target for the company from $200.00 to $167.00 in a report on Friday, July 31st. Piper Sandler lowered their price objective on MarketAxess from $175.00 to $128.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings reiterated a "sell (d+)" rating on shares of MarketAxess in a research note on Monday, August 3rd. Bank of America upgraded MarketAxess from an "underperform" rating to a "neutral" rating and set a $170.00 price target for the company in a research note on Friday, June 12th. Finally, The Goldman Sachs Group lowered their price target on MarketAxess from $168.00 to $130.00 and set a "neutral" rating on the stock in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MarketAxess presently has a consensus rating of "Hold" and a consensus price target of $163.36.

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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