Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 901,549 shares of the financial services provider’s stock after purchasing an additional 61,023 shares during the period. MarketAxess Holdings makes up 1.5% of Kayne Anderson Rudnick Investment Management LLC’s portfolio, making the stock its 15th biggest position. Kayne Anderson Rudnick Investment Management LLC owned 2.40% of MarketAxess Holdings worth $166,345,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in MarketAxess Holdings by 2.1% during the 2nd quarter. BlackRock Inc. now owns 3,063,588 shares of the financial services provider’s stock valued at $616,087,000 after purchasing an additional 62,914 shares in the last quarter. Vanguard Group Inc. grew its holdings in MarketAxess Holdings by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,894,267 shares of the financial services provider’s stock valued at $582,038,000 after purchasing an additional 38,702 shares in the last quarter. Baillie Gifford & Co. grew its holdings in MarketAxess Holdings by 5.1% during the 2nd quarter. Baillie Gifford & Co. now owns 2,752,949 shares of the financial services provider’s stock valued at $553,618,000 after purchasing an additional 134,588 shares in the last quarter. State Street Corp grew its holdings in MarketAxess Holdings by 0.4% during the 2nd quarter. State Street Corp now owns 984,978 shares of the financial services provider’s stock valued at $198,075,000 after purchasing an additional 4,168 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in MarketAxess Holdings by 8.4% during the 2nd quarter. Franklin Resources Inc. now owns 869,065 shares of the financial services provider’s stock valued at $174,782,000 after purchasing an additional 67,254 shares in the last quarter. 90.18% of the stock is owned by institutional investors and hedge funds.
MarketAxess Holdings, Inc. (NASDAQ:MKTX) traded down $0.58 during midday trading on Wednesday, reaching $173.94. 148,500 shares of the company’s stock were exchanged, compared to its average volume of 204,855. MarketAxess Holdings, Inc. has a 12-month low of $145.10 and a 12-month high of $211.06. The company has a market cap of $6,550.95, a P/E ratio of 44.86 and a beta of 0.66.
MarketAxess Holdings (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.90. MarketAxess Holdings had a net margin of 37.67% and a return on equity of 30.12%. The firm had revenue of $96.70 million for the quarter, compared to the consensus estimate of $96.35 million. During the same period in the prior year, the firm posted $0.82 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. sell-side analysts expect that MarketAxess Holdings, Inc. will post 3.91 EPS for the current fiscal year.
MarketAxess Holdings declared that its board has initiated a share buyback program on Wednesday, October 25th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, November 7th. This represents a $1.32 dividend on an annualized basis and a yield of 0.76%. MarketAxess Holdings’s dividend payout ratio (DPR) is 33.93%.
In other news, CEO Richard M. Mcvey sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $178.29, for a total value of $6,240,150.00. Following the transaction, the chief executive officer now directly owns 1,113,076 shares in the company, valued at approximately $198,450,320.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Themelis sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $176.40, for a total transaction of $705,600.00. The disclosure for this sale can be found here. Corporate insiders own 4.02% of the company’s stock.
MKTX has been the topic of a number of research analyst reports. Raymond James Financial, Inc. increased their price objective on shares of MarketAxess Holdings from $216.00 to $219.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. BidaskClub upgraded shares of MarketAxess Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of MarketAxess Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $192.40.
MarketAxess Holdings Profile
MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.
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