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 firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were 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 directly owns 562,029 shares of the company’s stock, valued at $150,438,302.43. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

MarketAxess Stock Performance

MKTX stock opened at $261.65 on Friday. The company has a 50 day moving average price of $272.48 and a two-hundred day moving average price of $235.53. The stock has a market capitalization of $9.87 billion, a P/E ratio of 35.45, a PEG ratio of 12.06 and a beta of 1.05. MarketAxess Holdings Inc. has a one year low of $192.42 and a one year high of $297.97.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. The business had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. Research analysts forecast that MarketAxess Holdings Inc. will post 7.33 earnings per share for the current fiscal year.

MarketAxess announced that its board has initiated a stock buyback program on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

MarketAxess Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Wednesday, November 20th. MarketAxess’s dividend payout ratio is currently 40.11%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MKTX. StockNews.com upgraded MarketAxess from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Citigroup raised 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. UBS Group upped their price target on shares of MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised their price objective on shares of MarketAxess from $270.00 to $276.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 target price on shares of MarketAxess in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, MarketAxess has an average rating of “Hold” and a consensus price target of $267.50.

Institutional Investors Weigh In On MarketAxess

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC raised its stake in MarketAxess by 174.2% during the first quarter. SG Americas Securities LLC now owns 6,743 shares of the financial services provider’s stock worth $1,478,000 after purchasing an additional 4,284 shares during the period. ProShare Advisors LLC raised its position in shares of MarketAxess by 48.4% in the 1st quarter. ProShare Advisors LLC now owns 11,615 shares of the financial services provider’s stock worth $2,547,000 after buying an additional 3,787 shares during the period. Entropy Technologies LP acquired a new position in MarketAxess in the first quarter valued at $882,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in MarketAxess by 9.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 41,191 shares of the financial services provider’s stock valued at $9,031,000 after acquiring an additional 3,603 shares during the period. Finally, Kingsview Wealth Management LLC purchased a new stake in MarketAxess during the first quarter valued at about $7,866,000. 99.01% of the stock is owned by institutional investors and hedge funds.

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.