Key Points
- MarketAxess General Counsel Scott Pintoff sold 100 shares at an average price of $162.60, reducing his holdings by 0.86% to 11,586 shares. The sale follows two similar 100-share transactions in June and July.
- MarketAxess exceeded quarterly earnings expectations, reporting $1.95 EPS versus the $1.85 consensus and $218.41 million in revenue, although revenue declined 0.5% year over year.
- The company declared a quarterly dividend of $0.78 per share, representing an annualized payout of $3.12 and a 1.9% yield. Analysts maintain an overall “Hold” rating, with an average price target of $158.90.
MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) General Counsel Scott Pintoff sold 100 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $162.60, for a total transaction of $16,260.00. Following the transaction, the general counsel owned 11,586 shares in the company, valued at $1,883,883.60. The trade was a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Scott Pintoff also recently made the following trade(s):
- On Friday, July 10th, Scott Pintoff sold 100 shares of MarketAxess stock. The stock was sold at an average price of $115.12, for a total value of $11,512.00.
- On Wednesday, June 10th, Scott Pintoff sold 100 shares of MarketAxess stock. The stock was sold at an average price of $116.03, for a total value of $11,603.00.
MarketAxess Price Performance
Shares of NASDAQ MKTX opened at $162.50 on Tuesday. MarketAxess Holdings Inc. has a 52 week low of $108.75 and a 52 week high of $195.96. The business's 50 day moving average price is $124.18 and its 200 day moving average price is $151.20. 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 firm has a market cap of $5.78 billion, a P/E ratio of 19.16, a P/E/G ratio of 4.12 and a beta of 0.83.
MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.10. The company had revenue of $218.41 million during the quarter, compared to analyst estimates of $216.70 million. MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. MarketAxess's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $2.00 EPS. On average, sell-side analysts expect that MarketAxess Holdings Inc. will post 8.04 earnings per share for the current year.
MarketAxess Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a dividend of $0.78 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.12 dividend on an annualized basis and a yield of 1.9%. MarketAxess's payout ratio is currently 36.79%.
Institutional Investors Weigh In On MarketAxess
Hedge funds have recently modified their holdings of the business. Ancora Advisors LLC boosted its position in MarketAxess by 1.9% during the 3rd quarter. Ancora Advisors LLC now owns 3,522 shares of the financial services provider's stock worth $614,000 after acquiring an additional 67 shares during the period. Orion Porfolio Solutions LLC raised its stake in shares of MarketAxess by 1.7% during the second quarter. Orion Porfolio Solutions LLC now owns 4,203 shares of the financial services provider's stock valued at $939,000 after purchasing an additional 69 shares in the last quarter. Krilogy Financial LLC lifted its holdings in MarketAxess by 1.0% in the first quarter. Krilogy Financial LLC now owns 7,884 shares of the financial services provider's stock worth $1,368,000 after purchasing an additional 77 shares during the period. Geneos Wealth Management Inc. grew its position in MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock valued at $26,000 after buying an additional 80 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in MarketAxess by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,181 shares of the financial services provider's stock valued at $1,302,000 after buying an additional 81 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. The Goldman Sachs Group reduced their price objective on MarketAxess from $168.00 to $130.00 and set a "neutral" rating for the company in a research note on Tuesday, June 30th. Rothschild & Co Redburn reiterated a "neutral" rating and set a $134.00 price target (down from $189.00) on shares of MarketAxess in a research report on Thursday, June 11th. Morgan Stanley lowered their price objective on MarketAxess from $195.00 to $129.00 and set an "equal weight" rating on the stock in a research report on Friday, July 10th. Bank of America raised shares of MarketAxess from an "underperform" rating to a "neutral" rating and set a $170.00 target price for the company in a report on Friday, June 12th. Finally, Barclays increased their price target on shares of MarketAxess from $132.00 to $167.00 and gave the stock an "equal weight" rating in a report on Monday. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $158.90.
View 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.
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