Investors Sell MarketAxess Holdings Inc. (MKTX) on Strength (MKTX)
Investors sold shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) on strength during trading on Tuesday. $15.75 million flowed into the stock on the tick-up and $26.66 million flowed out of the stock on the tick-down, for a money net flow of $10.91 million out of the stock. Of all equities tracked, MarketAxess Holdings had the 0th highest net out-flow for the day. MarketAxess Holdings traded up $0.36 for the day and closed at $161.83
A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of MarketAxess Holdings in a research note on Saturday, April 9th. Credit Suisse Group AG reiterated a “sell” rating and set a $106.00 price target on shares of MarketAxess Holdings in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of MarketAxess Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th. Finally, Citigroup Inc. cut shares of MarketAxess Holdings to a “market perform” rating in a research report on Friday, July 15th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $136.25.
The stock has a market cap of $6.09 billion and a PE ratio of 55.80. The stock has a 50-day moving average of $148.33 and a 200 day moving average of $129.69.
MarketAxess Holdings (NASDAQ:MKTX) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.03. The company had revenue of $96.60 million for the quarter, compared to the consensus estimate of $93.98 million. The company’s revenue was up 27.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. On average, equities analysts forecast that MarketAxess Holdings Inc. will post $3.20 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.64%.
In related news, Director David G. Gomach sold 4,923 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $139.03, for a total transaction of $684,444.69. Following the completion of the transaction, the director now directly owns 486 shares in the company, valued at approximately $67,568.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard M. Mcvey sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $127.21, for a total value of $10,176,800.00. Following the transaction, the chief executive officer now owns 1,103,192 shares of the company’s stock, valued at $140,337,054.32. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently made changes to their positions in MKTX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of MarketAxess Holdings during the fourth quarter worth about $1,207,000. Employees Retirement System of Texas acquired a new position in MarketAxess Holdings during the fourth quarter worth approximately $1,339,000. US Bancorp DE boosted its position in MarketAxess Holdings by 7.8% in the fourth quarter. US Bancorp DE now owns 21,901 shares of the company’s stock worth $2,444,000 after buying an additional 1,577 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in MarketAxess Holdings during the fourth quarter worth approximately $2,794,000. Finally, KBC Group boosted its position in MarketAxess Holdings by 57.2% in the third quarter. KBC Group now owns 37,017 shares of the company’s stock worth $3,438,000 after buying an additional 13,462 shares in the last quarter.
MarketAxess Holdings Inc (MarketAxess) is an electronic trading platform. The Company operates as an electronic multi-party platform for the trading of fixed-income securities and provides related data, analytics, compliance tools and post-trade services. The Company’s multi-dealer trading platform allows its institutional investor clients to request bids or offers from its broker-dealer clients and execute trades with the broker-dealer of their choice from among those that choose to respond.
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