Key Points
- MarketAxess General Counsel Scott Pintoff sold 100 shares on Wednesday, June 10 at an average price of $116.03, reducing his stake by 0.84% to 11,786 shares worth about $1.37 million.
- This was Pintoff’s latest in a series of small sales, following 100-share sales in April and May at higher prices of $171.96 and $146.99, respectively.
- MarketAxess recently reported solid quarterly results, with EPS of $2.25 beating estimates and revenue rising 11.9% year over year, while the company also paid a quarterly dividend of $0.78 per share.
MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) General Counsel Scott Pintoff sold 100 shares of the business's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $116.03, for a total value of $11,603.00. Following the transaction, the general counsel owned 11,786 shares of the company's stock, valued at approximately $1,367,529.58. The trade was a 0.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Scott Pintoff also recently made the following trade(s):
- On Monday, May 11th, Scott Pintoff sold 100 shares of MarketAxess stock. The shares were sold at an average price of $146.99, for a total value of $14,699.00.
- On Friday, April 10th, Scott Pintoff sold 100 shares of MarketAxess stock. The shares were sold at an average price of $171.96, for a total value of $17,196.00.
MarketAxess Price Performance
MKTX opened at $120.89 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $147.78 and a 200 day moving average of $165.33. The stock has a market cap of $4.30 billion, a P/E ratio of 14.29, a PEG ratio of 3.76 and a beta of 0.86. MarketAxess Holdings Inc. has a 52-week low of $113.29 and a 52-week high of $228.16.
MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its earnings results on Thursday, May 7th. The financial services provider reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.10. The business had revenue of $233.38 million during the quarter, compared to analyst estimates of $231.91 million. MarketAxess had a return on equity of 22.28% and a net margin of 35.53%.MarketAxess's revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.87 EPS. As a group, sell-side analysts anticipate that MarketAxess Holdings Inc. will post 8.02 EPS for the current year.
MarketAxess Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $3.12 dividend on an annualized basis and a yield of 2.6%. MarketAxess's payout ratio is 36.88%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. MUFG Securities EMEA plc bought a new position in shares of MarketAxess in the 2nd quarter worth $25,000. Geneos Wealth Management Inc. raised its position 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 bought a new position in shares of MarketAxess in the 4th quarter worth $28,000. Stance Capital LLC bought a new position in shares of MarketAxess in the 3rd quarter worth $42,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of MarketAxess in the 3rd quarter worth $43,000. 99.01% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on MKTX. Keefe, Bruyette & Woods began coverage on MarketAxess in a research report on Wednesday, April 8th. They set an "outperform" rating and a $195.00 target price for the company. Bank of America raised MarketAxess from an "underperform" rating to a "neutral" rating and set a $170.00 price target for the company in a research report on Friday. Weiss Ratings lowered MarketAxess from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, May 6th. Argus lowered MarketAxess from a "buy" rating to a "hold" rating in a research report on Tuesday, March 17th. Finally, UBS Group reduced their price target on MarketAxess from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $183.10.
Get Our Latest Analysis on MKTX
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
