Richard M. Mcvey Sells 10,000 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) Stock

MarketAxess Holdings Inc. (NASDAQ:MKTX) Chairman Richard M. Mcvey sold 10,000 shares of the business’s stock in a transaction on 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 transaction, the chairman now owns 562,029 shares of the company’s stock, valued at $150,438,302.43. This represents a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

MarketAxess Stock Down 0.8 %

NASDAQ:MKTX traded down $2.15 during midday trading on Thursday, hitting $264.98. The stock had a trading volume of 287,391 shares, compared to its average volume of 406,868. MarketAxess Holdings Inc. has a one year low of $192.42 and a one year high of $297.97. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 12.27 and a beta of 1.05. The stock has a 50-day moving average of $272.25 and a 200 day moving average of $234.92.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data 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. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The firm had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.17 million. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, sell-side analysts anticipate that MarketAxess Holdings Inc. will post 7.33 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.74 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.96 annualized dividend and a dividend yield of 1.12%. MarketAxess’s dividend payout ratio is presently 40.11%.

MarketAxess announced that its Board of Directors has approved a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

MKTX has been the subject of several recent analyst reports. Bank of America decreased their price target on MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a research note on Thursday, October 3rd. UBS Group lifted their price objective on MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a report on Monday. Barclays lifted their price objective on MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Piper Sandler reissued 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 issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, MarketAxess has an average rating of “Hold” and a consensus price target of $267.50.

Hedge Funds Weigh In On MarketAxess

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Retirement Planning Co of New England Inc. raised its stake in MarketAxess by 2.9% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 1,566 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 44 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in MarketAxess by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,431 shares of the financial services provider’s stock worth $3,953,000 after acquiring an additional 50 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in MarketAxess by 0.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,376 shares of the financial services provider’s stock worth $1,479,000 after acquiring an additional 52 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in MarketAxess by 1.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider’s stock worth $1,287,000 after acquiring an additional 52 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in MarketAxess by 4.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

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.