Russell Investments Group Ltd. grew its position in MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 6.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,696 shares of the financial services provider’s stock after acquiring an additional 2,703 shares during the quarter. Russell Investments Group Ltd. owned 0.12% of MarketAxess worth $8,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in MKTX. Great West Life Assurance Co. Can increased its position in shares of MarketAxess by 0.5% during the 2nd quarter. Great West Life Assurance Co. Can now owns 29,789 shares of the financial services provider’s stock valued at $5,985,000 after purchasing an additional 139 shares during the last quarter. World Asset Management Inc increased its position in shares of MarketAxess by 3.2% during the 2nd quarter. World Asset Management Inc now owns 2,722 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 85 shares during the last quarter. Sei Investments Co. increased its position in shares of MarketAxess by 35.9% during the 2nd quarter. Sei Investments Co. now owns 26,706 shares of the financial services provider’s stock valued at $5,370,000 after purchasing an additional 7,055 shares during the last quarter. Algert Global LLC bought a new position in shares of MarketAxess during the 2nd quarter valued at approximately $317,000. Finally, Cigna Investments Inc. New increased its position in shares of MarketAxess by 65.3% during the 2nd quarter. Cigna Investments Inc. New now owns 2,764 shares of the financial services provider’s stock valued at $556,000 after purchasing an additional 1,092 shares during the last quarter. 92.84% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Stephen P. Casper sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $195.84, for a total transaction of $391,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Themelis sold 4,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $176.40, for a total value of $705,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,225 shares of company stock valued at $8,955,630. 4.02% of the stock is owned by company insiders.
MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.90. MarketAxess had a return on equity of 30.12% and a net margin of 37.67%. The firm had revenue of $96.70 million for the quarter, compared to the consensus estimate of $96.35 million. During the same quarter in the previous year, the company posted $0.82 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. equities analysts anticipate that MarketAxess Holdings, Inc. will post 3.91 earnings per share for the current year.
MarketAxess declared that its board has initiated a share buyback plan on Wednesday, October 25th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, November 7th. MarketAxess’s payout ratio is currently 33.93%.
Several research firms have recently weighed in on MKTX. Zacks Investment Research raised MarketAxess from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub downgraded MarketAxess from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. MarketAxess presently has a consensus rating of “Buy” and an average price target of $192.40.
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MarketAxess Company 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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