Richard M. Mcvey Sells 35,000 Shares of MarketAxess Holdings Inc. (MKTX) Stock

MarketAxess Holdings Inc. (NASDAQ:MKTX) CEO Richard M. Mcvey sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $190.61, for a total transaction of $6,671,350.00. Following the completion of the sale, the chief executive officer now owns 1,115,767 shares in the company, valued at approximately $212,676,347.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of MarketAxess Holdings Inc. (MKTX) traded up $0.14 during trading on Friday, hitting $189.16. 307,538 shares of the stock traded hands, compared to its average volume of 307,401. The stock has a market cap of $7,320.08, a PE ratio of 47.94 and a beta of 0.60. MarketAxess Holdings Inc. has a 1-year low of $171.45 and a 1-year high of $211.06.

The firm also recently declared a dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be paid a dividend of $0.42 per share. This represents a dividend yield of 0.00215097818293557%. The ex-dividend date is Tuesday, February 13th. This is a boost from MarketAxess’s previous dividend of $0.20. MarketAxess’s dividend payout ratio (DPR) is currently 33.93%.

MarketAxess declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 25th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Several institutional investors have recently modified their holdings of MKTX. AHL Partners LLP purchased a new position in shares of MarketAxess during the 2nd quarter valued at $338,000. State Street Corp lifted its stake in shares of MarketAxess 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 buying an additional 4,168 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of MarketAxess during the 3rd quarter valued at $594,000. Canada Pension Plan Investment Board lifted its stake in shares of MarketAxess by 20.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 11,900 shares of the financial services provider’s stock valued at $2,196,000 after buying an additional 2,000 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of MarketAxess by 39.3% during the 3rd quarter. Jane Street Group LLC now owns 3,292 shares of the financial services provider’s stock valued at $607,000 after buying an additional 929 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

MKTX has been the topic of several research reports. Zacks Investment Research upgraded shares of MarketAxess from a “hold” rating to a “strong-buy” rating and set a $238.00 target price on the stock in a report on Monday, January 8th. Rosenblatt Securities initiated coverage on shares of MarketAxess in a report on Thursday, December 14th. They issued a “neutral” rating and a $190.00 target price on the stock. UBS Group cut shares of MarketAxess from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Goldman Sachs Group cut shares of MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 target price on the stock. in a report on Monday, January 8th. Finally, BidaskClub cut shares of MarketAxess from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. MarketAxess has a consensus rating of “Hold” and a consensus target price of $214.40.

COPYRIGHT VIOLATION NOTICE: This piece was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://sportsperspectives.com/2018/02/09/richard-m-mcvey-sells-35000-shares-of-marketaxess-holdings-inc-mktx-stock.html.

About MarketAxess

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.

Insider Buying and Selling by Quarter for MarketAxess (NASDAQ:MKTX)

Receive News & Ratings for MarketAxess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MarketAxess and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply