MarketAxess Holdings Inc. $MKTX Shares Newly Purchased by ProShare Advisors LLC

ProShare Advisors LLC purchased a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) in the third quarter, Holdings Channel.com reports. The fund purchased 89,772 shares of the financial services provider’s stock, valued at approximately $14,715,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vise Technologies Inc. purchased a new position in shares of MarketAxess in the 3rd quarter worth approximately $368,000. Parcion Private Wealth LLC purchased a new stake in shares of MarketAxess during the third quarter valued at approximately $279,000. Citizens Financial Group Inc. RI increased its position in shares of MarketAxess by 7.7% during the third quarter. Citizens Financial Group Inc. RI now owns 3,550 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 253 shares during the last quarter. MBL Wealth LLC purchased a new position in MarketAxess in the third quarter worth $260,000. Finally, Root Financial Partners LLC purchased a new position in MarketAxess in the third quarter worth $56,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MKTX shares. Barclays upped their price objective on MarketAxess from $132.00 to $167.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Morgan Stanley raised their target price on MarketAxess from $129.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. Piper Sandler dropped their price objective on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Keefe, Bruyette & Woods lowered shares of MarketAxess from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $150.00 to $167.00 in a research report on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of MarketAxess from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $159.44.

MarketAxess Trading Up 0.1%

Shares of MKTX stock opened at $165.48 on Tuesday. The company has a market capitalization of $5.82 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.80. MarketAxess Holdings Inc. has a 52-week low of $108.75 and a 52-week high of $195.96. The business’s fifty day moving average is $163.85 and its 200 day moving average is $155.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.85 and a current ratio of 1.85.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Friday, October 23rd. The financial services provider reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). The business had revenue of $210.41 million for the quarter, compared to analysts’ expectations of $218.98 million. MarketAxess had a return on equity of 23.15% and a net margin of 33.51%. MarketAxess’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 earnings per share. On average, equities research analysts anticipate that MarketAxess Holdings Inc. will post 8.02 EPS for the current fiscal year.

MarketAxess Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. MarketAxess’s dividend payout ratio (DPR) is 38.19%.

Insider Activity at MarketAxess

In related news, Director William Cruger, Jr. sold 6,164 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $163.20, for a total transaction of $1,005,964.80. Following the transaction, the director owned 4,033 shares of the company’s stock, valued at approximately $658,185.60. This trade represents a 60.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 6,464 shares of company stock worth $1,055,022. 0.72% of the stock is currently owned by company insiders.

About MarketAxess

MarketAxess Holdings Inc operates an electronic trading platform for fixed-income securities and related market data services. The company connects institutional investors, broker-dealers and other market participants, enabling them to trade corporate bonds, government bonds, emerging-market debt and other credit products through digital workflows.

Its offerings include electronic request-for-quote trading, all-to-all trading through its Open Trading marketplace, portfolio trading, and tools designed to support pricing, liquidity discovery and trade execution.