MarketAxess Holdings Inc. (NASDAQ:MKTX) Stake Raised by Larson Financial Group LLC

Larson Financial Group LLC grew its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 50.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,393 shares of the financial services provider’s stock after purchasing an additional 469 shares during the period. Larson Financial Group LLC’s holdings in MarketAxess were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC boosted its holdings in MarketAxess by 207.3% during the first quarter. Janus Henderson Group PLC now owns 14,140 shares of the financial services provider’s stock worth $3,100,000 after buying an additional 9,539 shares in the last quarter. Tidal Investments LLC lifted its position in shares of MarketAxess by 46.2% during the 1st quarter. Tidal Investments LLC now owns 7,949 shares of the financial services provider’s stock valued at $1,735,000 after acquiring an additional 2,513 shares during the last quarter. LBP AM SA boosted its stake in shares of MarketAxess by 88.3% during the 1st quarter. LBP AM SA now owns 3,885 shares of the financial services provider’s stock worth $852,000 after acquiring an additional 1,822 shares in the last quarter. iA Global Asset Management Inc. acquired a new position in shares of MarketAxess in the 1st quarter worth $229,000. Finally, Heartland Bank & Trust Co acquired a new stake in shares of MarketAxess during the first quarter worth $488,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MKTX shares. Barclays lifted their price target on MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Citigroup upped their price target on shares of MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Bank of America lowered their price objective on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley increased their target price on MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Piper Sandler reiterated a “neutral” rating and set a $265.00 price target on shares of MarketAxess in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, MarketAxess has an average rating of “Hold” and an average price target of $267.50.

MarketAxess Price Performance

Shares of NASDAQ MKTX opened at $261.02 on Wednesday. MarketAxess Holdings Inc. has a one year low of $192.42 and a one year high of $297.97. The business’s 50-day moving average price is $273.32 and its two-hundred day moving average price is $238.51. The company has a market capitalization of $9.84 billion, a P/E ratio of 35.37, a price-to-earnings-growth ratio of 11.69 and a beta of 1.05.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. The business had revenue of $206.70 million during the quarter, compared to analysts’ expectations of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 EPS. On average, equities analysts anticipate that MarketAxess Holdings Inc. will post 7.37 EPS for the current year.

MarketAxess Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Wednesday, November 20th. MarketAxess’s payout ratio is presently 40.11%.

MarketAxess announced that its board has authorized a stock buyback program on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other MarketAxess news, Chairman Richard M. Mcvey sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $267.67, for a total value of $2,676,700.00. Following the completion of the sale, the chairman now owns 562,029 shares of the company’s stock, valued at $150,438,302.43. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.66% of the stock is currently owned by corporate insiders.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.