Key Points
- General Counsel Scott Pintoff sold 100 shares of MarketAxess on April 10 at an average price of $171.96 for $17,196, executed under a pre-arranged Rule 10b5-1 plan; he now owns 11,986 shares (a 0.83% decline in his stake, valued at about $2.06M).
- MarketAxess reported quarterly EPS of $1.68, missing estimates by $0.04 with revenue of $209.41M versus $214.06M expected, and recently raised its quarterly dividend to $0.78 (annualized $3.12) for roughly a 1.8% yield.
- Analysts have trimmed price targets and ratings on MKTX—most recently cuts from UBS, Piper Sandler, and Morgan Stanley—leaving the consensus at Hold with an average target price of $201.11.
MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) General Counsel Scott Pintoff sold 100 shares of the business's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $171.96, for a total value of $17,196.00. Following the transaction, the general counsel owned 11,986 shares in the company, valued at $2,061,112.56. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Scott Pintoff also recently made the following trade(s):
- On Monday, January 12th, Scott Pintoff sold 100 shares of MarketAxess stock. The shares were sold at an average price of $168.63, for a total value of $16,863.00.
MarketAxess Trading Down 0.5%
Shares of MKTX opened at $171.94 on Friday. MarketAxess Holdings Inc. has a 12-month low of $156.17 and a 12-month high of $232.84. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 2.49 and a beta of 1.01. The stock's 50-day moving average price is $175.91 and its 200 day moving average price is $173.21.
MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings results on Friday, February 6th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.04). MarketAxess had a net margin of 29.14% and a return on equity of 20.88%. The firm had revenue of $209.41 million for the quarter, compared to the consensus estimate of $214.06 million. During the same quarter in the prior year, the firm earned $1.73 earnings per share. The company's revenue was up 3.5% on a year-over-year basis. As a group, research analysts predict that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.
MarketAxess Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th were paid a $0.78 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $3.12 annualized dividend and a dividend yield of 1.8%. This is an increase from MarketAxess's previous quarterly dividend of $0.76. MarketAxess's dividend payout ratio is currently 46.85%.
Analysts Set New Price Targets
MKTX has been the topic of several analyst reports. UBS Group lowered their price objective on MarketAxess from $240.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, January 9th. Argus lowered MarketAxess from a "buy" rating to a "hold" rating in a research note on Tuesday, March 17th. Piper Sandler lowered their price objective on MarketAxess from $180.00 to $175.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 14th. Wall Street Zen upgraded MarketAxess from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Finally, Morgan Stanley lowered their price objective on MarketAxess from $204.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 15th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $201.11.
Get Our Latest Report on MKTX
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. MUFG Securities EMEA plc acquired a new position in shares of MarketAxess in the 2nd quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock worth $26,000 after acquiring an additional 80 shares in the last quarter. Activest Wealth Management acquired a new position in shares of MarketAxess in the 4th quarter worth approximately $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of MarketAxess in the 3rd quarter worth approximately $38,000. Finally, Stance Capital LLC acquired a new position in shares of MarketAxess in the 3rd quarter worth approximately $42,000. 99.01% of the stock is owned by institutional investors and hedge funds.
About MarketAxess
(
Get Free Report)
MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company's network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.
In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.
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