MarketAxess Holdings Inc. (NASDAQ:MKTX) Increase in equity position by Redpoint Investment Management Pty Ltd
Redpoint Investment Management Pty Ltd increased its stake in shares of MarketAxess Holdings Inc. (NASDAQ: MKTX – Get Rating) by 41.7% in Q1, HoldingsChannel.com reports. The fund held 1,207 shares of the financial services provider after acquiring 355 additional shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in MarketAxess were worth $411,000 at the end of the last reporting period.
Several other institutional investors and hedge funds have also recently increased or reduced their stakes in MKTX. LPL Financial LLC increased its equity stake in MarketAxess by 276.6% during the third quarter. LPL Financial LLC now owns 4,018 shares of the financial services provider worth $1,690,000 after acquiring 2,951 additional shares last quarter. The Kentucky Retirement Systems Insurance Trust Fund bought a new equity stake in MarketAxess in the third quarter worth $427,000. Moors & Cabot Inc. increased its holdings of MarketAxess shares by 20.0% in the third quarter. Moors & Cabot Inc. now owns 600 shares of the financial services provider worth $252,000 after purchasing an additional 100 shares in the last quarter. Exchange Traded Concepts LLC bought a new equity stake in MarketAxess in the fourth quarter worth $3,048,000. Finally, Scout Investments Inc. increased its holdings of MarketAxess shares by 191.2% in the fourth quarter. Scout Investments Inc. now owns 83,336 shares of the financial services provider worth $34,274,000 after buying an additional 54,716 shares in the last quarter. 96.50% of the shares are held by institutional investors and hedge funds.
A number of research companies have recently published reports on MKTX. Morgan Stanley cut its target price on MarketAxess from $367.00 to $361.00 and set an “equal weight” rating for the company in a Thursday, April 21 report. Deutsche Bank Aktiengesellschaft reduced its target price on MarketAxess from $300.00 to $270.00 in a Thursday, May 19 report. Raymond James downgraded MarketAxess from an “outperforming” rating to a “market performing” rating in a Wednesday, April 6 report. Rosenblatt Securities raised its price target on MarketAxess from $383.00 to $395.00 and gave the stock a “buy” rating in a Thursday, April 21 report. Finally, Atlantic Securities cut its price target on MarketAxess from $340.00 to $306.00 and set a “neutral” rating for the company in a Friday, June 10 report. Eight equity research analysts gave the stock a hold rating and one gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $358.63.
In other MarketAxess news, Director Richard Leon Prager bought 1,000 shares in a trade dated Friday, April 22. The shares were purchased at an average cost of $271.25 per share, with a total value of $271,250.00. Following completion of the transaction, the administrator now owns 2,149 shares of the company, valued at approximately $582,916.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, insider Christophe Pierre Danie Roupie sold 1,740 shares of the company in a trade dated Tuesday, June 7. The shares were sold at an average price of $285.03, for a total value of $495,952.20. Following the completion of the sale, the insider now directly owns 5,318 shares of the company, valued at $1,515,789.54. The disclosure of this sale can be found here. 1.94% of the shares are held by insiders of the company.
The NASDAQ MKTX opened at $277.64 on Friday. MarketAxess Holdings Inc. has a fifty-two week low of $249.01 and a fifty-two week high of $498.97. The stock’s 50-day moving average is $270.27 and its two-hundred-day moving average is $330.02. The company has a market capitalization of $10.40 billion, a P/E ratio of 43.59 and a beta of 0.55.
MarketAxess (NASDAQ:MKTX – Get Rating) last released its results on Wednesday, April 20. The financial services provider reported earnings per share of $1.73 for the quarter, beating the consensus estimate of $1.70 by $0.03. MarketAxess had a return on equity of 23.46% and a net margin of 35.13%. The company posted revenue of $186.10 million for the quarter, versus analyst estimates of $186.34 million. During the same period last year, the company earned earnings per share of $2.11. The company’s revenue fell 4.8% from the same quarter last year. On average, analysts expect MarketAxess Holdings Inc. to post earnings per share of 7.02 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 18. Shareholders of record on Wednesday, May 4 received a dividend of $0.70 per share. The ex-dividend date was Tuesday, May 3. This represents an annualized dividend of $2.80 and a yield of 1.01%. MarketAxess’ dividend payout ratio (DPR) is currently 43.96%.
MarketAxess profile (Get a rating)
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investors and brokerage firms worldwide. It provides access to liquidity in investment-grade US bonds, US high-yield bonds and US Treasuries, as well as municipal bonds, emerging market debt, Eurobonds and other fixed-income securities. fixed income.
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