Mitsubishi UFJ Trust & Banking Corp decreased its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,893 shares of the financial services provider’s stock after selling 11,309 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.26% of MarketAxess worth $48,339,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. NuWave Investment Management LLC bought a new stake in MarketAxess in the first quarter worth about $31,000. Regent Peak Wealth Advisors LLC purchased a new position in MarketAxess during the fourth quarter valued at approximately $41,000. Bessemer Group Inc. grew its stake in MarketAxess by 35.9% during the fourth quarter. Bessemer Group Inc. now owns 87 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 23 shares in the last quarter. TFO TDC LLC purchased a new position in MarketAxess during the first quarter valued at approximately $50,000. Finally, Meeder Asset Management Inc. grew its stake in MarketAxess by 85.7% during the fourth quarter. Meeder Asset Management Inc. now owns 91 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 42 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of MKTX opened at $432.89 on Friday. The company has a market cap of $16.44 billion, a price-to-earnings ratio of 54.11 and a beta of 0.38. MarketAxess Holdings Inc. has a fifty-two week low of $431.19 and a fifty-two week high of $606.45. The business has a 50 day simple moving average of $481.07.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 26th. Investors of record on Wednesday, May 12th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Tuesday, May 11th. This represents a $2.64 dividend on an annualized basis and a yield of 0.61%. MarketAxess’s dividend payout ratio is currently 33.63%.
Several equities analysts recently commented on MKTX shares. Morgan Stanley reduced their price objective on shares of MarketAxess from $538.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday. Rosenblatt Securities dropped their target price on shares of MarketAxess from $625.00 to $569.00 and set a “buy” rating for the company in a research report on Thursday, June 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of MarketAxess from $558.00 to $545.00 and set a “hold” rating for the company in a research report on Friday, April 23rd. Piper Sandler dropped their target price on shares of MarketAxess from $513.00 to $483.00 and set a “neutral” rating for the company in a research report on Thursday, June 3rd. Finally, Raymond James dropped their target price on shares of MarketAxess from $599.00 to $595.00 and set an “outperform” rating for the company in a research report on Tuesday, April 6th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $553.33.
In other MarketAxess news, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $518.80, for a total transaction of $10,376,000.00. Following the transaction, the chief executive officer now directly owns 785,583 shares of the company’s stock, valued at approximately $407,560,460.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Scott Pintoff sold 100 shares of the business’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $460.02, for a total transaction of $46,002.00. Following the transaction, the general counsel now directly owns 6,223 shares in the company, valued at $2,862,704.46. The disclosure for this sale can be found here. Insiders have sold a total of 35,070 shares of company stock valued at $17,198,059 over the last quarter. 3.05% of the stock is currently owned by company insiders.
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer firms worldwide. It offers the access to global liquidity in U.S. investment-grade bonds, U.S. high-yield bonds, U.S. Treasuries, municipal bonds, emerging market debt, Eurobonds, and other fixed income securities.
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