Bank of America Corp DE reduced its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX – Get Rating) by 22.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 94,217 shares of the financial services provider's stock after selling 27,251 shares during the quarter. Bank of America Corp DE owned 0.25% of MarketAxess worth $32,053,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of MKTX. Standard Family Office LLC bought a new position in MarketAxess in the first quarter valued at about $27,000. Exane Derivatives raised its position in MarketAxess by 37.4% in the first quarter. Exane Derivatives now owns 202 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 55 shares during the last quarter. Riverview Trust Co raised its position in MarketAxess by 18.8% in the first quarter. Riverview Trust Co now owns 272 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 43 shares during the last quarter. Gladius Capital Management LP raised its position in MarketAxess by 37.5% in the first quarter. Gladius Capital Management LP now owns 286 shares of the financial services provider's stock valued at $98,000 after purchasing an additional 78 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in MarketAxess in the fourth quarter valued at about $119,000. 95.62% of the stock is currently owned by institutional investors.
Get MarketAxess alerts:MarketAxess Stock Performance
Shares of MarketAxess stock opened at $222.49 on Friday. MarketAxess Holdings Inc. has a 52 week low of $217.44 and a 52 week high of $434.14. The stock has a 50 day moving average price of $254.06 and a two-hundred day moving average price of $272.20. The stock has a market capitalization of $8.37 billion, a PE ratio of 34.87 and a beta of 0.61.
MarketAxess (NASDAQ:MKTX – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.07. MarketAxess had a return on equity of 23.55% and a net margin of 34.77%. The firm had revenue of $182.20 million during the quarter, compared to analysts' expectations of $185.24 million. During the same quarter last year, the firm posted $1.77 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts forecast that MarketAxess Holdings Inc. will post 6.62 EPS for the current year.MarketAxess Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 3rd were issued a $0.70 dividend. The ex-dividend date was Tuesday, August 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.26%. MarketAxess's dividend payout ratio is presently 43.89%.
Analyst Upgrades and Downgrades
Several research firms have commented on MKTX. Deutsche Bank Aktiengesellschaft increased their target price on MarketAxess from $286.00 to $292.00 and gave the company a "hold" rating in a research report on Friday, August 12th. Morgan Stanley decreased their price target on MarketAxess from $338.00 to $325.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 19th. Piper Sandler decreased their price target on MarketAxess from $300.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday, July 1st. Credit Suisse Group decreased their price target on MarketAxess from $305.00 to $288.00 and set a "neutral" rating for the company in a research note on Wednesday, September 7th. Finally, Atlantic Securities increased their price target on MarketAxess from $280.00 to $290.00 and gave the company a "neutral" rating in a research note on Friday, August 19th. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat, MarketAxess presently has an average rating of "Hold" and a consensus price target of $306.33.
MarketAxess Company Profile
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MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed income securities.
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