Richard M. Mcvey Sells 20,000 Shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) Stock
MarketAxess Holdings, Inc. (NASDAQ:MKTX) CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $198.63, for a total value of $3,972,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,108,142 shares of the company’s stock, valued at $220,110,245.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
MarketAxess Holdings, Inc. (MKTX) opened at 192.46 on Friday. The firm has a market capitalization of $7.22 billion, a P/E ratio of 50.62 and a beta of 0.69. MarketAxess Holdings, Inc. has a one year low of $145.10 and a one year high of $211.06. The firm has a 50-day moving average price of $198.90 and a 200-day moving average price of $192.04.
MarketAxess Holdings (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.08. The firm had revenue of $97.31 million during the quarter, compared to analysts’ expectations of $96.42 million. MarketAxess Holdings had a return on equity of 30.38% and a net margin of 37.46%. MarketAxess Holdings’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. Equities analysts anticipate that MarketAxess Holdings, Inc. will post $4.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 8th. This represents a $1.32 annualized dividend and a yield of 0.69%. MarketAxess Holdings’s dividend payout ratio is presently 34.65%.
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MKTX has been the subject of a number of analyst reports. BidaskClub downgraded MarketAxess Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Raymond James Financial, Inc. boosted their price target on MarketAxess Holdings from $216.00 to $219.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Zacks Investment Research raised MarketAxess Holdings from a “hold” rating to a “strong-buy” rating and set a $221.00 price target for the company in a report on Monday, May 1st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $205.00 price target on shares of MarketAxess Holdings in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $197.17.
A number of institutional investors have recently modified their holdings of MKTX. Cutler Group LP purchased a new position in shares of MarketAxess Holdings during the second quarter valued at about $110,000. First Personal Financial Services boosted its position in shares of MarketAxess Holdings by 2.6% in the second quarter. First Personal Financial Services now owns 631 shares of the financial services provider’s stock valued at $127,000 after buying an additional 16 shares in the last quarter. GQG Partners LLC purchased a new position in shares of MarketAxess Holdings during the second quarter valued at about $127,000. Traynor Capital Management Inc. purchased a new position in shares of MarketAxess Holdings during the second quarter valued at about $203,000. Finally, Puzo Michael J purchased a new position in shares of MarketAxess Holdings during the first quarter valued at about $212,000. 90.05% of the stock is owned by hedge funds and other institutional investors.
About MarketAxess Holdings
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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