Granahan Investment Management Inc. MA lessened its holdings in shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,122 shares of the financial services provider’s stock after selling 1,303 shares during the period. Granahan Investment Management Inc. MA owned approximately 0.15% of MarketAxess worth $10,355,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in MarketAxess by 2.1% in the 2nd quarter. BlackRock Inc. now owns 3,063,588 shares of the financial services provider’s stock valued at $616,087,000 after acquiring an additional 62,914 shares in the last quarter. Vanguard Group Inc. lifted its stake in MarketAxess by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,894,267 shares of the financial services provider’s stock valued at $582,038,000 after acquiring an additional 38,702 shares in the last quarter. Baillie Gifford & Co. lifted its stake in MarketAxess by 5.1% in the 2nd quarter. Baillie Gifford & Co. now owns 2,752,949 shares of the financial services provider’s stock valued at $553,618,000 after acquiring an additional 134,588 shares in the last quarter. Wells Fargo & Company MN lifted its stake in MarketAxess by 10.3% in the 3rd quarter. Wells Fargo & Company MN now owns 1,232,534 shares of the financial services provider’s stock valued at $227,415,000 after acquiring an additional 115,038 shares in the last quarter. Finally, State Street Corp lifted its stake in MarketAxess by 0.4% in the 2nd quarter. State Street Corp now owns 984,978 shares of the financial services provider’s stock valued at $198,075,000 after acquiring an additional 4,168 shares in the last quarter. Institutional investors and hedge funds own 92.84% of the company’s stock.
In other news, CEO Richard M. Mcvey sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $178.29, for a total transaction of $6,240,150.00. Following the sale, the chief executive officer now owns 1,113,076 shares in the company, valued at approximately $198,450,320.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen P. Casper sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $195.84, for a total value of $391,680.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,225 shares of company stock worth $8,955,630. Company insiders own 4.02% of the company’s stock.
Several equities research analysts have commented on MKTX shares. BidaskClub cut MarketAxess from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded MarketAxess from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $192.40.
Shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) opened at $196.00 on Monday. MarketAxess Holdings, Inc. has a 12 month low of $145.10 and a 12 month high of $211.06. The stock has a market capitalization of $7,357.25, a P/E ratio of 50.39 and a beta of 0.69.
MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.90. MarketAxess had a return on equity of 27.05% and a net margin of 35.29%. The company had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $96.35 million. During the same quarter in the prior year, the business posted $0.82 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. equities analysts expect that MarketAxess Holdings, Inc. will post 3.91 earnings per share for the current year.
MarketAxess announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, November 7th. MarketAxess’s dividend payout ratio is currently 33.93%.
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MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.
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