Turner Investments LLC Invests $352,000 in MarketAxess Holdings, Inc. (MKTX)
Turner Investments LLC bought a new stake in MarketAxess Holdings, Inc. (NASDAQ:MKTX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,750 shares of the financial services provider’s stock, valued at approximately $352,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Chartwell Investment Partners LLC bought a new position in shares of MarketAxess Holdings during the second quarter valued at $438,000. First Personal Financial Services boosted its position 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 in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of MarketAxess Holdings by 57.2% in the second quarter. BNP Paribas Arbitrage SA now owns 15,688 shares of the financial services provider’s stock valued at $3,155,000 after buying an additional 5,711 shares in the last quarter. Comerica Bank boosted its position in shares of MarketAxess Holdings by 0.9% in the second quarter. Comerica Bank now owns 29,722 shares of the financial services provider’s stock valued at $5,848,000 after buying an additional 266 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of MarketAxess Holdings by 23.2% in the second quarter. Legal & General Group Plc now owns 29,697 shares of the financial services provider’s stock valued at $5,972,000 after buying an additional 5,602 shares in the last quarter. Institutional investors and hedge funds own 90.36% of the company’s stock.
MarketAxess Holdings, Inc. (NASDAQ:MKTX) opened at 188.71 on Monday. The firm has a market capitalization of $7.08 billion, a PE ratio of 49.63 and a beta of 0.69. 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 $197.59 and a 200-day moving average price of $192.63.
MarketAxess Holdings (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.08. MarketAxess Holdings had a net margin of 37.46% and a return on equity of 30.38%. The firm had revenue of $97.31 million for the quarter, compared to the consensus estimate of $96.42 million. During the same quarter in the previous year, the firm posted $0.88 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts predict that MarketAxess Holdings, Inc. will post $4.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, August 8th. MarketAxess Holdings’s dividend payout ratio (DPR) is 34.65%.
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Several research analysts have recently weighed in on the company. BidaskClub cut MarketAxess Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Raymond James Financial, Inc. boosted their target price on MarketAxess Holdings from $216.00 to $219.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Keefe, Bruyette & Woods restated a “buy” rating and set a $210.00 target price on shares of MarketAxess Holdings in a report on Friday, July 14th. Finally, Zacks Investment Research cut MarketAxess Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $197.17.
In related news, CEO Richard M. Mcvey sold 20,000 shares of MarketAxess Holdings stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $198.63, for a total transaction of $3,972,600.00. Following the sale, the chief executive officer now owns 1,108,142 shares of the company’s stock, valued at approximately $220,110,245.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Themelis sold 5,596 shares of MarketAxess Holdings stock in a transaction on Friday, June 9th. The stock was sold at an average price of $200.84, for a total transaction of $1,123,900.64. Following the sale, the insider now directly owns 67,763 shares in the company, valued at approximately $13,609,520.92. The disclosure for this sale can be found here. Insiders have sold a total of 34,882 shares of company stock worth $6,966,237 in the last ninety days. 4.51% of the stock is currently owned by insiders.
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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