Insider Selling: MarketAxess Holdings, Inc. (MKTX) Insider Sells 5,000 Shares of Stock
MarketAxess Holdings, Inc. (NASDAQ:MKTX) insider Kevin M. Mcpherson sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $176.61, for a total transaction of $883,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
MarketAxess Holdings, Inc. (MKTX) traded up $4.15 on Friday, reaching $180.40. 222,504 shares of the company were exchanged, compared to its average volume of 205,215. The firm has a market cap of $6,620.00, a P/E ratio of 44.72 and a beta of 0.66. MarketAxess Holdings, Inc. has a 12-month low of $145.10 and a 12-month high of $211.06.
MarketAxess Holdings (NASDAQ:MKTX) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.90. The firm had revenue of $96.70 million during the quarter, compared to the consensus estimate of $96.35 million. MarketAxess Holdings had a net margin of 37.67% and a return on equity of 30.12%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. equities analysts predict that MarketAxess Holdings, Inc. will post 3.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Tuesday, November 7th. MarketAxess Holdings’s dividend payout ratio (DPR) is presently 33.93%.
MarketAxess Holdings announced that its board has initiated a share buyback program on Wednesday, October 25th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
A number of research firms have recently commented on MKTX. Zacks Investment Research downgraded shares of MarketAxess Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. BidaskClub downgraded shares of MarketAxess Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Raymond James Financial, Inc. upped their price objective on shares of MarketAxess Holdings from $216.00 to $219.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $192.40.
Institutional investors and hedge funds have recently bought and sold shares of the stock. GQG Partners LLC acquired a new stake in MarketAxess Holdings during the 2nd quarter worth approximately $127,000. First Personal Financial Services increased its position in MarketAxess Holdings by 2.6% during the 2nd quarter. First Personal Financial Services now owns 631 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 16 shares in the last quarter. Traynor Capital Management Inc. acquired a new stake in MarketAxess Holdings during the 2nd quarter worth approximately $203,000. Sciencast Management LP increased its position in MarketAxess Holdings by 14.4% during the 2nd quarter. Sciencast Management LP now owns 1,226 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 154 shares in the last quarter. Finally, TrimTabs Asset Management LLC acquired a new stake in MarketAxess Holdings during the 2nd quarter worth approximately $260,000. 90.18% of the stock is owned by hedge funds and other institutional investors.
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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