Covea Finance raised its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX – Get Rating) by 34.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,000 shares of the financial services provider's stock after buying an additional 1,282 shares during the period. Covea Finance's holdings in MarketAxess were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of the business. Ieq Capital LLC increased its stake in shares of MarketAxess by 15.3% in the first quarter. Ieq Capital LLC now owns 669 shares of the financial services provider's stock valued at $228,000 after buying an additional 89 shares during the period. CWM LLC lifted its holdings in shares of MarketAxess by 44.4% in the 1st quarter. CWM LLC now owns 397 shares of the financial services provider's stock worth $135,000 after purchasing an additional 122 shares in the last quarter. Lakehouse Capital Pty Ltd lifted its stake in MarketAxess by 8.1% during the 4th quarter. Lakehouse Capital Pty Ltd now owns 32,326 shares of the financial services provider's stock valued at $13,295,000 after acquiring an additional 2,429 shares in the last quarter. Curi Wealth Management LLC lifted its stake in MarketAxess by 11.3% during the 1st quarter. Curi Wealth Management LLC now owns 472 shares of the financial services provider's stock valued at $160,000 after acquiring an additional 48 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of MarketAxess by 42.9% during the 1st quarter. MetLife Investment Management LLC now owns 12,003 shares of the financial services provider's stock valued at $4,083,000 after purchasing an additional 3,602 shares during the last quarter. Institutional investors own 95.62% of the company's stock.
Get MarketAxess alerts:MarketAxess Stock Performance
NASDAQ:MKTX traded down $2.11 during mid-day trading on Friday, reaching $222.49. The stock had a trading volume of 414,142 shares, compared to its average volume of 384,238. The firm 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 P/E ratio of 34.87 and a beta of 0.61. MarketAxess Holdings Inc. has a one year low of $217.44 and a one year high of $434.14.
MarketAxess (NASDAQ:MKTX – Get Rating) last released its earnings results on Wednesday, July 20th. The financial services provider reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.07. The company had revenue of $182.20 million during the quarter, compared to the consensus estimate of $185.24 million. MarketAxess had a return on equity of 23.55% and a net margin of 34.77%. MarketAxess's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 EPS. Research analysts forecast that MarketAxess Holdings Inc. will post 6.62 earnings per share for the current year.MarketAxess Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Shareholders of record on Wednesday, August 3rd were paid a $0.70 dividend. The ex-dividend date was Tuesday, August 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 1.26%. MarketAxess's dividend payout ratio (DPR) is currently 43.89%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on MKTX shares. Piper Sandler decreased their target price on MarketAxess from $300.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday, July 1st. Deutsche Bank Aktiengesellschaft raised their target price on MarketAxess from $286.00 to $292.00 and gave the stock a "hold" rating in a research note on Friday, August 12th. Jefferies Financial Group cut their target price on MarketAxess from $315.00 to $300.00 and set a "hold" rating for the company in a research note on Monday, June 27th. Rosenblatt Securities began coverage on MarketAxess in a research note on Wednesday, August 17th. They issued a "sell" rating and a $231.00 target price for the company. Finally, Credit Suisse Group dropped their price target on MarketAxess from $305.00 to $288.00 and set a "neutral" rating for the company in a research report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to MarketBeat.com, MarketAxess has a consensus rating of "Hold" and a consensus target price of $306.33.
About MarketAxess
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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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