Paralel Advisors LLC Takes Position in MarketAxess Holdings Inc. $MKTX

Paralel Advisors LLC purchased a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,039 shares of the financial services provider’s stock, valued at approximately $1,593,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MUFG Securities EMEA plc acquired a new position in MarketAxess in the 2nd quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased its stake in shares of MarketAxess by 200.0% in the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 80 shares during the last quarter. Activest Wealth Management acquired a new position in shares of MarketAxess in the fourth quarter worth $28,000. Pacer Advisors Inc. raised its holdings in shares of MarketAxess by 300.0% during the fourth quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 210 shares in the last quarter. Finally, Westpac Banking Corp purchased a new stake in shares of MarketAxess during the first quarter worth $56,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

MarketAxess Trading Up 0.1%

MarketAxess stock opened at $161.90 on Friday. MarketAxess Holdings Inc. has a one year low of $108.75 and a one year high of $195.96. The company’s fifty day moving average price is $131.19 and its two-hundred day moving average price is $150.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 2.02 and a beta of 0.83.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. The company had revenue of $218.41 million during the quarter, compared to analysts’ expectations of $216.70 million. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.00 earnings per share. On average, analysts forecast that MarketAxess Holdings Inc. will post 8.06 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a $0.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. MarketAxess’s dividend payout ratio (DPR) is presently 36.79%.

Wall Street Analyst Weigh In

MKTX has been the topic of several research reports. Rothschild & Co Redburn reaffirmed a “neutral” rating and issued a $134.00 target price (down from $189.00) on shares of MarketAxess in a research report on Thursday, June 11th. Barclays boosted their price target on MarketAxess from $132.00 to $167.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Weiss Ratings restated a “sell (d+)” rating on shares of MarketAxess in a report on Monday, August 3rd. Benchmark reaffirmed a “buy” rating on shares of MarketAxess in a research report on Wednesday, July 8th. Finally, Piper Sandler reduced their target price on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, MarketAxess currently has a consensus rating of “Hold” and a consensus price target of $156.10.

MarketAxess Profile

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.