MarketAxess Holdings Inc. (NASDAQ:MKTX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 6.1% during the third quarter, HoldingsChannel.com reports. The fund owned 2,825 shares of the financial services provider’s stock after selling 183 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in MarketAxess were worth $724,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MKTX. Accent Capital Management LLC acquired a new stake in MarketAxess in the third quarter valued at $25,000. Goodman Advisory Group LLC purchased a new stake in shares of MarketAxess in the 2nd quarter worth about $27,000. Blue Trust Inc. grew its stake in MarketAxess by 405.1% in the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 158 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in MarketAxess during the 3rd quarter valued at about $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in MarketAxess by 555.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 200 shares during the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MarketAxess

In other MarketAxess news, Chairman Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the completion of the sale, the chairman now directly owns 592,029 shares in the company, valued at $160,883,880.75. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Scott Pintoff sold 300 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $240.57, for a total transaction of $72,171.00. Following the completion of the transaction, the general counsel now directly owns 8,302 shares in the company, valued at approximately $1,997,212.14. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,300 shares of company stock worth $8,183,871. 2.66% of the stock is currently owned by company insiders.

MarketAxess Stock Performance

Shares of MKTX stock opened at $232.51 on Thursday. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 10.54 and a beta of 1.00. The company has a 50 day moving average price of $268.81 and a 200 day moving average price of $242.64. MarketAxess Holdings Inc. has a one year low of $192.42 and a one year high of $297.97.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.05. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The business had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.17 million. During the same period last year, the company posted $1.46 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, equities analysts forecast that MarketAxess Holdings Inc. will post 7.38 EPS for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Wednesday, November 20th. MarketAxess’s dividend payout ratio is currently 40.11%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MKTX shares. Piper Sandler reissued a “neutral” rating and set a $265.00 price objective on shares of MarketAxess in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised their price target on MarketAxess from $270.00 to $276.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Citigroup upped their target price on shares of MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Bank of America cut their price objective on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, MarketAxess has a consensus rating of “Hold” and a consensus target price of $266.70.

About MarketAxess

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.