Richard M. Mcvey Sells 20,000 Shares of MarketAxess Holdings, Inc. (MKTX) Stock
MarketAxess Holdings, Inc. (NASDAQ:MKTX) CEO Richard M. Mcvey sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $198.63, for a total value of $3,972,600.00. Following the sale, the chief executive officer now directly owns 1,108,142 shares of the company’s stock, valued at $220,110,245.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
MarketAxess Holdings, Inc. (NASDAQ:MKTX) traded down 1.83% during mid-day trading on Thursday, reaching $195.41. The company’s stock had a trading volume of 144,704 shares. MarketAxess Holdings, Inc. has a 12-month low of $145.10 and a 12-month high of $211.06. The company has a 50-day moving average price of $199.36 and a 200-day moving average price of $191.75. The firm has a market cap of $7.34 billion, a PE ratio of 51.40 and a beta of 0.69.
MarketAxess Holdings (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.92 by $0.08. The firm had revenue of $97.31 million during the quarter, compared to analyst estimates of $96.42 million. MarketAxess Holdings had a return on equity of 30.38% and a net margin of 37.46%. MarketAxess Holdings’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. On average, equities research analysts expect that MarketAxess Holdings, Inc. will post $4.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, August 8th. MarketAxess Holdings’s dividend payout ratio (DPR) is presently 34.65%.
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A number of analysts have issued reports on the company. Raymond James Financial, Inc. raised their target price on MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. BidaskClub raised MarketAxess Holdings from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded MarketAxess Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $210.00 target price on shares of MarketAxess Holdings in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. MarketAxess Holdings currently has an average rating of “Buy” and an average price target of $197.17.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cutler Group LP acquired a new position in shares of MarketAxess Holdings during the second quarter worth approximately $110,000. First Personal Financial Services increased its stake in shares of MarketAxess Holdings by 2.6% in the second quarter. First Personal Financial Services now owns 631 shares of the financial services provider’s stock valued at $127,000 after buying an additional 16 shares during the last quarter. Traynor Capital Management Inc. purchased a new stake in shares of MarketAxess Holdings during the second quarter valued at about $203,000. Puzo Michael J purchased a new stake in shares of MarketAxess Holdings during the first quarter valued at about $212,000. Finally, Gardiner Nancy B purchased a new stake in shares of MarketAxess Holdings during the first quarter valued at about $224,000. 90.05% of the stock is owned by institutional investors and hedge funds.
About MarketAxess Holdings
MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.
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